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African Rainbow Minerals Limited
Company type Public
JSE: ARI
IndustryMining
Headquarters
Sandton, Johannesburg
,
South Africa
Number of locations
South Africa, DRC, Zambia
Key people
 Patrice Motsepe ( Chairman)

Phillip Tobias ( CEO)
Tsundzukani Mhlanga ( CFO)

Thando Mkatshana ( CE)
Products PGMs, Ferrous Metals, Coal, Copper
RevenueIncrease R9.6 Billion (FY 2017) [1]: 21 
Increase R3.475 Billion (FY 2017) [1]: 21 
Increase R1.432 Billion (FY 2017) [1]: 21 
Total assetsDecrease R26.388 Billion (FY 2017) [1]: 20 
Total equityDecrease R24.04 Billion (FY 2017) [1]: 20 
Number of employees
24,016 (includes contractors) [1]
Website www.arm.co.za

African Rainbow Minerals Limited is a mining company based in South Africa. ARM has interests in a wide range of mines, including platinum and platinum group metals (PGMs), iron, coal, copper, and gold. [2] 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. [3] Production is expanding at the Two Rivers platinum mine in Mpumalanga. [4] ARM owns 20% of Harmony Gold, the 12th largest gold mining company in the world with three mining operations in South Africa. [5] Patrice Motsepe is the executive chairman; Phillip Tobias is CEO. [6]

History

Manganite crystals from N'Chwaning

ARM was founded by Patrice Motsepe [7] as South Africa's first black-owned mining company. [8] [9] Motsepe founded ARMGold in 1997, which went on to list on the Johannesburg Stock Exchange (JSE) in 2002. [10]

In 2003 ARMGold entered a merger with Harmony Gold Mining and Anglovaal, previously owned by Richard and Brian Menell, and became the largest group controlled by black entrepreneurs. [11] The 2003 ARMGold merger with Harmony Gold Mining formed the world’s 5th largest gold producer. [10] The ARMGold merger with Anglovaal Mining (Avmin) came after.[ citation needed]

In 2009, ARM joined the International Council on Mining and Metals. [12] In 2009, ARM was reported to be planning $1.12 billion investments in mining in Zimbabwe. [13] [14] In August 2010, ARM entered a $380 million joint venture with Vale to build a copper mine in Zambia, which was expected to produce 100,000 tons of copper. [15] [16] In February 2016, ARM put a further $148 million bail out in place to preserve their broad-based black economic empowerment (B-BBEE) status. [17] In March 2016, ARM reported that profits had been halved due to lower commodity prices. [18] ARM also has had 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.[ citation needed]

See also

References

  1. ^ a b c d e f "African Rainbow Minerals Integrated Annual Report 2017" (PDF). African Rainbow Minerals (published 30 June 2017). 24 April 2018.
  2. ^ "Corporate Summary" (PDF). 2009-10-23. Retrieved 2010-09-13.
  3. ^ "Goedgevonden mine to supply Eskom's Majuba coal-fired plant". Gold Newswire. Archived from the original on 2011-07-23. Retrieved 2010-09-13.
  4. ^ "Two Rivers plant improvement on track". Mining Weekly. Retrieved 2010-09-13.
  5. ^ ARM company website, retrieved 3 February 2011
  6. ^ "${Instrument_CompanyName} ${Instrument_Ric} People | Reuters.com". Reuters. Retrieved 2017-01-08.
  7. ^ "African Rainbow Minerals - The African Business Journal". Archived from the original on 14 September 2010. Retrieved 2010-09-13.
  8. ^ Adams, Susan (2008-03-24). "The Prince of Mines - Forbes.com". Archived from the original on 31 August 2010. Retrieved 2010-09-13.
  9. ^ "SA pushes mining firms for greater black ownership - Yahoo! News". Archived from the original on 18 September 2010. Retrieved 2010-09-13.
  10. ^ a b Creamer, Terence. "Harmony-ARMGold to merge to form world's fifth biggest gold producer". Mining Weekly. Retrieved 2017-01-08.
  11. ^ H de Beer, Johan (1 January 2016). The History of Geophysics in Southern Africa. African Sun Media. pp. 459–460.
  12. ^ "African Rainbow Minerals joins the International Council on Mining and Metals". ICMM. Archived from the original on 2010-01-07. Retrieved 2010-09-13.
  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.
  14. ^ "ARM to invest ZAR 8 billion in Zimbabwe". Archived from the original on 2011-07-11. Retrieved 2010-09-13.
  15. ^ "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.
  16. ^ "African Rainbow and Vale start construction on $380m Zambia mine". Retrieved 2010-09-13.
  17. ^ "Business Day". www.bdlive.co.za. Retrieved 2017-01-08.
  18. ^ "African Rainbow Minerals to cut jobs as profits halve". Fin24. Retrieved 2017-01-08.

External links

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