AFRICAN RAINBOW MINERALS LTD

AFRICAN RAINBOW MINERALS LTD Organogram

African Rainbow Minerals Ltd (ARM) is the holding company for a diversified mining and minerals holding group. The current operational focus is on precious metals, ferrous metals, and alloys, including platinum group metals (PGMs), nickel, iron ore, manganese ore, chrome ore, ferromanganese, ferrochrome alloys and thermal coal. ARM also has an investment in the gold industry through its shareholding in JSE-listed Harmony Gold.

The group operates principally in South Africa, with additional operations in Malaysia.

PGM interests include:
• Modikwa (50%) - Underground platinum mine produced 282,000 6E PGM ounces, has 5,089 employees, and a Life of Mine (LOM) of less than 19 years.
• Two Rivers (54%) - Underground platinum mechanised mine produced 288,000 6E PGM ounces, has 4,321 employees, and a LOM of 21 years.
• Nkomati Mine (50%) - Open pit nickel mine (by-products including PGM, chrome, copper, and cobalt) with 287 employees and has been under care and maintenance since March 2021.
• Bokoni (100%) - Combined mineral resources mine produced 46,000 6E PGM ounces and has 2.068 employees.

Ferrous operations include:
• Khumani (50%) - Open pit merchandised iron ore mine produced 12.3mt iron ore, has 3,873 employees, and a LOM of 20 years.
• Beeshoek (50%) - Open pit iron ore mine, nickel, PGMs and chrome produced 2.3mt iron ore and has 1,172 employees. Under care and maintenance.
• Black Rock Mine (Nchwaning and Gloria) (50%) and Gloria (50%) (collectively Black Rock) - Underground manganese ore mine produced 3.8mt manganese ore, has 4,111 employees, and a LOM of more than 30 years.

Ferromanganese operations include:
• Cato Ridge Alloys (25%) - Alloys produced 48,000 tons of medium-carbon manganese alloy.
• Machadorp (100%) - Smelter that is currently being used to develop energy-efficient smelting and has 72 employees.
• Sakura (27%) - Ferroalloys Smelter processed 222,000 tonnes of ferromanganese.

Thermal Coal mining operations:
• Goedgevonden - Open-pit mechanised mine operation (51%) - unincorporated joint venture with Glencore Operations South Africa (Pty) Ltd produces 6.7mt saleable thermal coal with a LOM of less than 25 years.
• Participative Coal Business (51%) - Open-pit mechanised mine (the Impunzi and Tweefontein operations) (20.2%) - managed by Glencore produces 19.2mt saleable thermal coal with a LOM of 12 years.

ARM Technical Services division provides specialised technical support, engineering, and operational guidance.