Assore is not the highest dividend-yielding share on the JSE, or even in the top 10. But thanks to the owners’ large share in the business, it is a generally reliable dividend payer, which should attract investors who know little about its core steelmaking commodities of iron, chrome and manganese ore.
Assore is in a 50:50 mining and processing joint venture called Assmang with African Rainbow Minerals (ARM) in iron ore and manganese. It also owns 100% of the Dwarsrivier chrome mine after buying out ARM’s stake last year, just as chrome ore prices took off. After iron ore, Assore’s most profitable business last year was the marketing and shipping of Assmang products through Ore & Metal Company.