African Rainbow Minerals

African Rainbow Minerals (ARM)
Public (JSE: ARI)
JSE Limited
Industry Mining
Headquarters Sandton, Johannesburg, South Africa
Number of locations
 South Africa, DRC, Zambia
Key people

Patrice Motsepe (Chairman)
Mike Schmidt (CEO)
Mike Arnold (CFO)

Thando Mkatshana (CE)
Products PGMs, Ferrous Metals, Coal, Copper
Revenue Increase R11.02 Billion (FY 2010)[1]:122
Increase R2.92 Billion (FY 2010)[1]
Number of employees
 12 373[2]
Website www.arm.co.za
Manganite crystals from N'Chwaning

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 2009, ARM joined the International Council on Mining and Metals.[14]

External links

References

  1. 1 2 Profiles's Stock Exchange Handbook: October 2010-January 2011. Johannesburg, South Africa: Sasfin. 2010. p. 400. ISSN 1680-0036.
  2. ↑ "FINANCIAL SUMMARY AND STATISTICS" (PDF). 2009-10-23. Retrieved 2010-09-13.
  3. ↑ "Corporate Summary" (PDF). 2009-10-23. Retrieved 2010-09-13.
  4. ↑ "Goedgevonden mine to supply Eskom’s Majuba coal-fired plant". Gold Newswire. Retrieved 2010-09-13.
  5. ↑ "Two Rivers plant improvement on track". Mining Weekly. Retrieved 2010-09-13.
  6. ↑ ARM company website, retrieved 3 February 2011
  7. ↑ "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.
  8. ↑ "African Rainbow and Vale start construction on $380m Zambia mine". Retrieved 2010-09-13.
  9. ↑ "African Rainbow Minerals, Allocate R8 Billion Mining Investment In Zimbabwe - Mineral Exploration - Mining Exploration News". Retrieved 2010-09-13.
  10. ↑ "ARM to invest ZAR 8 billion in Zimbabwe". Retrieved 2010-09-13.
  11. ↑ "African Rainbow Minerals - The African Business Journal". Archived from the original on 14 September 2010. Retrieved 2010-09-13.
  12. ↑ Adams, Susan (2008-03-24). "The Prince of Mines - Forbes.com". Archived from the original on 31 August 2010. Retrieved 2010-09-13.
  13. ↑ "SA pushes mining firms for greater black ownership - Yahoo! News". Archived from the original on 18 September 2010. Retrieved 2010-09-13.
  14. ↑ "African Rainbow Minerals joins the International Council on Mining and Metals". ICMM. Retrieved 2010-09-13.
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