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Assore reports record earnings as well as good safety figures

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Headline earnings increase by 41% due to high iron ore and manganese prices and a weak rand

Assore, a tightly held mineral resources company, has reported record earnings for the third consecutive year.

Assore’s primary investment is a 50% holding in Assmang, which it controls jointly with Patrice Motsepe’s African Rainbow Minerals . The attributable profit for Assore’s Dwarsrivier chrome operations, however, declined by 41% to R516m due to lower prices for chrome ore and increased operating costs. The reduced profit was compounded by a labour strike at the mine in March this year.

 

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