African Rainbow Minerals
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|
Public (JSE: ARI) JSE Limited | |
| Industry | Mining |
| Headquarters | Sandton, Johannesburg, South Africa |
Number of locations | South Africa, DRC, Zambia |
Key people |
Patrice Motsepe (Chairman) |
| Products | PGMs, Ferrous Metals, Coal, Copper |
| Revenue |
 R11.02 Billion (FY 2010)[1]:122 |
|
R2.92 Billion (FY 2010)[1] | |
Number of employees | 12 373[2] |
| Website | www.arm.co.za |
African Rainbow Minerals (ARM) is a mining company based in South Africa. Patrice Motsepe is the executive chairman; Mike Schmidt is CEO.
ARM has interests in a wide range of mines, including platinum and platinum group metals (PGMs), iron, coal, copper, and gold.[3] ARM's Goedgevonden coalmine near Witbank is a flagship of their joint venture with Xstrata, and produces 6.7 million tons of coal per year.[4] Production is expanding at the Two Rivers platinum mine in Mpumalanga.[5] ARM owns 20% of Harmony Gold, the 12th largest gold mining company in the world with three mining operations in South Africa.[6]
Expansion outside South Africa
In August 2010, ARM entered a $380 million joint venture with Vale to build a copper mine in Zambia, which is expected to produce 100,000 tons of copper.[7][8] In 2009, ARM was reported to be planning $1.12 billion investments in mining in Zimbabwe.[9][10] ARM also has a 50% stake in Morobe Mining Joint Ventures (MMJV) of Papua New Guinea. MMJV has operations in Hidden Valley and Wafi-Golpu in Morobe Province approximately 50 kilometers south-west of Lae, Papua New Guinea.
History
ARM was founded by Patrice Motsepe[11] as South Africa's first black-owned mining company, although he is thought to have benefited from political connections when the ANC took power and enacted laws on black ownership of industries.[12] The South African government continues to exert pressure to increase black ownership of mining companies.[13]
In 2003 it entered a merger with Harmony Gold Mining and Anglovall, previously owned by Richard and Brian Menell, and became the largest group controlled by black entrepreneurs.[14]
In 2009, ARM joined the International Council on Mining and Metals.[15]
External links
References
- 1 2 Profiles's Stock Exchange Handbook: October 2010-January 2011. Johannesburg, South Africa: Sasfin. 2010. p. 400. ISSN 1680-0036.
- ↑ "FINANCIAL SUMMARY AND STATISTICS" (PDF). 2009-10-23. Retrieved 2010-09-13.
- ↑ "Corporate Summary" (PDF). 2009-10-23. Retrieved 2010-09-13.
- ↑ "Goedgevonden mine to supply Eskom's Majuba coal-fired plant". Gold Newswire. Retrieved 2010-09-13.
- ↑ "Two Rivers plant improvement on track". Mining Weekly. Retrieved 2010-09-13.
- ↑ ARM company website, retrieved 3 February 2011
- ↑ "allAfrica.com: South Africa: Arm in Copper Joint Venture in Zambia". 2010-09-13. Archived from the original on 1 September 2010. Retrieved 2010-09-13.
- ↑ "African Rainbow and Vale start construction on $380m Zambia mine". Retrieved 2010-09-13.
- ↑ "African Rainbow Minerals, Allocate R8 Billion Mining Investment In Zimbabwe - Mineral Exploration - Mining Exploration News". Archived from the original on 2010-06-17. Retrieved 2010-09-13.
- ↑ "ARM to invest ZAR 8 billion in Zimbabwe". Archived from the original on 2011-07-11. Retrieved 2010-09-13.
- ↑ "African Rainbow Minerals - The African Business Journal". Archived from the original on 14 September 2010. Retrieved 2010-09-13.
- ↑ Adams, Susan (2008-03-24). "The Prince of Mines - Forbes.com". Archived from the original on 31 August 2010. Retrieved 2010-09-13.
- ↑ "SA pushes mining firms for greater black ownership - Yahoo! News". Archived from the original on 18 September 2010. Retrieved 2010-09-13.
- ↑ H de Beer, Johan (1 January 2016). The History of Geophysics in Southern Africa. African Sun Media. pp. 459–460.
- ↑ "African Rainbow Minerals joins the International Council on Mining and Metals". ICMM. Retrieved 2010-09-13.