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

Export of manganese
through Durban

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

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

First production of
ferromanganese at
the Cato Ridge Works
by Assmang

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

Agency relationship
established with
Sumitomo Corporation
of Japan

Commissioning of the
Nchwaning Manganese
Ore Mine

Nchwaning II Mine came
into production

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

Beeshoek South Mine
expansion commissioned

Mining of chrome deposit
by Assmang at Dwarsrivier

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

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

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

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”)

First distributions made
by empowerment trusts
(R7,2 million) and to
employees by employee
trust (R13,2 million)