African Rainbow Minerals
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Public (JSE: ARI) JSE Limited |
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| Industry | Mining |
| Headquarters | Sandton, Johannesburg, South Africa |
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Number of locations
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South Africa, DRC, Zambia |
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Key people
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Patrice Motsepe (Chairman) |
| Products | PGMs, Ferrous Metals, Coal, Copper |
| Revenue |
 R9.6 Billion (FY 2016)
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R1.09 Billion (FY 2016)
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R(757 Million) (FY 2016)
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| Total assets | R35.13 Billion (FY 2016) |
| Total equity | R24.58 Billion (FY 2016) |
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Number of employees
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13 793 |
| Website | www.arm.co.za |
Patrice Motsepe (Chairman)
Mike Schmidt (CEO)
Mike Arnold (CFO)
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. 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. Production is expanding at the Two Rivers platinum mine in Mpumalanga. ARM owns 20% of Harmony Gold, the 12th largest gold mining company in the world with three mining operations in 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. In 2009, ARM was reported to be planning $1.12 billion investments in mining in Zimbabwe. 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.
ARM was founded by Patrice Motsepe 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. The South African government continues to exert pressure to increase black ownership of mining companies.
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Wikipedia