African Rainbow Minerals Limited (ARM) is a leading, niche diversified mining and minerals company, based in Johannesburg, South Africa, with excellent long-life low-cost assets in key commodities. The company owns and operates most of its assets. ARMs We do it better management style is supported by experience and a focus on entrepreneurship, which adds significant value to its business. An integral part of ARMs business is the forging of partnerships with key players in the commodity sectors to ensure that ARM is at the forefront of technological development and global practices and has access to key markets and to value-generating growth opportunities.
ARM in its current form was formed in May 2004, to explore, develop, operate and hold significant interests in the South African and African mining industry. The company has interests in:
|*||Assets held through the ARM Mining Consortium, effective interest at 41.5%,the balance held by the local communities|
|**||Assets held through a 50% shareholding in Assmang Limited|
|•||Konkola North is subject to a buy-in right up to 20% (5% carried) by state-owned ZCCM Investment Holdings plc|
ARMs history goes back much further, to 1933 when the Anglo-Transvaal Consolidated Investment Company Limited was incorporated as a mining, finance and industrial holding company. That group was unbundled in 1998, allowing Anglovaal Limited to focus on its core mining operations through Anglovaal Mining Limited (Avmin).
In 1994, ARM Executive Chairman Patrice Motsepe started Future Mining, a contract mining company which, following a series of acquisitions of gold interests from Anglo American Corporation of South Africa Limited, led to the formation of ARMgold. ARMgold Limited was listed in May 2002. The platinum assets acquired in African Rainbow Minerals and
Exploration Investments (Pty) Ltd (ARMI) were bolstered with the development of Modikwa Platinum Mine in a joint venture with Anglo Platinum Limited in 2001.
In May 2003, ARMgold merged with Harmony to create the worlds sixth largest gold company and, in May 2004, a range of indivisible transactions involving certain interests of Avmin, ARMgold and Harmony resulted in the formation of two entities, Harmony in its current form and ARM.
In November 2005, ARM listed TEAL on the Toronto Stock Exchange and later on the JSE Limited, into which ARMs non-South African exploration portfolio was injected. This exploration portfolio includes copper projects in Zambia, a copper-cobalt project in the Democratic Republic of Congo (DRC) and a gold project in Namibia.
The formation of ARM Coal, the companys new coal investment, was announced in February 2006.ARM Coal holds a 20 percent interest in the existing coal operations of XCSA, and a 51 percent interest in an unincorporated joint venture which holds the Goedgevonden Coal Project. ARM has a direct 10% interest in the existing coal operations of XCSA.
© 2007 African Rainbow Minerals Limited