Group timeline

Gloucester Manganese Mines (Postmasburg) Limited established by Guido Sacco

1928

Formation of Ore & Metal Company Limited (Ore & Metal)

1930

Formation of African Mining and Trust Company Limited (AMT)

1931

AMT partnered with Anglo Transvaal Consolidated Investment Company Limited (Anglovaal), now African Rainbow Minerals (ARM)

1935

1936

Acquisition of the Wonderstone Mine

Various prospecting activities and mining manganese deposit on farm Gloucester and adjoining farms

1937

1939

Export of manganese through Durban

The listing of Assore on the JSE as The Associated Ore & Metal Corporation Limited

1950

1940

Obtaining of mining lease at Black Rock where initial manganese mining operation commenced

1957

Alloy producer, Ferroalloys Limited, incorporated by Assmang

1959

First production of ferromanganese at the Cato Ridge Works by Assmang

1960

First mining of iron ore by Assmang at Beeshoek, and exported through Durban

1961

Agency relationship established with Sumitomo Corporation of Japan

1973

Commissioning of the Nchwaning Manganese Ore Mine

1979

Gloria Manganese Ore Mine commissioned

1981

Nchwaning II Mine came into production

Mining of chrome deposit by Assmang at Dwarsrivier

1999

First mining of manganese ore from Nchwaning III

2002

2004

Assmang’s Khumani Iron Ore Mine established, following issue of new-order mining rights, and increase of production to 10 million sales tons

Acquisition of minorities in, and delisting of, Assmang and finalisation of 50/50 joint-venture agreement with African Rainbow Minerals Limited

2006

1997

Beeshoek South Mine expansion commissioned

1996

Cato Ridge Alloys (CRA), a joint venture incorporated to produce refined ferromanganese for export at Cato Ridge, between Assmang’s Ferroalloys Limited and Japanese partners

2010

5-for-1 subdivision of ordinary shares. Conclusion of second empowerment transaction, whereby a further effective 11,05% of Assore’s shares were acquired by the Boleng Trust

2009

Approval of the Khumani Expansion Project to increase design capacity of iron ore output to 14 million tons per annum

2014

First distributions made by empowerment trusts (R7,2 million) and to employees by employee trust (R13,2 million). Construction of Sakura Ferroalloys commences

2012

Conclusion of third empowerment transaction (subsequent to the first empowerment transaction concluded in 2005), whereby 11,79% of Assore shares were bought back from Shanduka Resources and disposed of to its broad-based empowerment trusts being the Fricker Road Trust and Assore Employee Trust (refer “Black economic empowerment status report”)

2016

Conclusion of the acquisition of the remaining 50% of Dwarsrivier from ARM. Commissioning of first ferromanganese furnace at Sakura Ferroalloys

2017

First full year of 100% inclusion of Dwarsrivier in the group. Successful commissioning of second furnace at Sakura Ferroalloys by Assmang, within budget.