 | |
| Company type | Public |
|---|---|
| JSE:ARI | |
| Industry | Mining |
| Headquarters | , |
Number of locations | South Africa,DRC,Zambia |
Key people | Patrice Motsepe (Chairman) Phillip Tobias (CEO) |
| Products | PGMs,Ferrous Metals,Coal,Copper |
| Revenue |  R9.6 Billion (FY 2017)[1]: 21 |
| R3.475 Billion (FY 2017)[1]: 21 | |
| R1.432 Billion (FY 2017)[1]: 21 | |
| Total assets |  R26.388 Billion (FY 2017)[1]: 20 |
| Total equity | 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, includingplatinum andplatinum group metals (PGMs),iron,coal,copper, andgold.[2] ARM's Goedgevonden coalmine nearWitbank is a flagship of their joint venture withXstrata, and produces 6.7 million tons of coal per year.[3] Production is expanding at the Two Rivers platinum mine inMpumalanga.[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]
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 theJohannesburg Stock Exchange (JSE) in 2002.[10]
In 2003 ARMGold entered a merger withHarmony Gold Mining andAnglovaal, previously owned by Richard andBrian 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 theInternational Council on Mining and Metals.[12] In 2009, ARM was reported to be planning $1.12 billion investments in mining inZimbabwe.[13][14] In August 2010, ARM entered a $380 million joint venture withVale to build a copper mine inZambia, 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) ofPapua New Guinea. MMJV has operations in Hidden Valley and Wafi-Golpu inMorobe Province approximately 50 kilometers south-west ofLae, Papua New Guinea.[citation needed]
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