Assore raises dividend on record performances in several minerals
ASSORE, a diversified and tightly held mining company, increased its dividend payment after posting record annual performances in a range of minerals it produces.Assore, which has as its key asset a 50% stake in mining company Assmang, which it shares with African Rainbow Minerals, reported a final dividend of 500c per share for the year to end-June, compared with 300c last year, bringing the total return to shareholders to 700c versus 600c before.Iron ore output was 5% higher at 17-million tonnes and chrome ore increased 7% to 1.15-million tonnes. Manganese ore production climbed 11% to 3-million tonnes, while manganese alloy output slumped 22% to 175,000 tonnes.READ THIS: EDITORIAL: Sustainable growth in doubtThe results from Assore give some insight into ARM’s results, due out on Thursday.Assore’s shares have gained 141% in the year to date, compared with a 108% fall in those of its partner, which has platinum, copper and coal assets in its portfolio.Assore’s revenue fell to R2....
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