Base metals miner and marketer Assore’s R450m investment in July 2016 in taking 100% of the Dwarsrivier Chrome Mine has paid for itself in less than a year as the mine generated more than R900m in cash after capex, it said on Wednesday. Assore has a 50% interest in, and joint control of, Assmang, with African Rainbow Minerals. It bought Assmang’s 50% stake in Dwarsrivier. Assore said average prices of 44% chrome content ore had risen to $300/tonne in the year to June 2017, from $150 in the last year, reflecting strong growth in the stainless steel sector and a supply deficit.
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