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 12.13% shareholding in JSE-listed Harmony Gold.\r\n\r\nThe group operates principally in South Africa, with additional operations in Malaysia.\r\n\r\nPGM interests include:\r\n• Modikwa (41.5%) - Underground platinum mine produced 290,000 6E PGM ounces, has 5,362 employees, and a Life of Mine (LOM) of less than 21 years\r\n• Two Rivers (54%) - Underground platinum mechanised mine produced 291,000 6E PGM ounces, has 6,005 employees, and a LOM of 17 years\r\n• Nkomati Mine (50%) - Open pit nickel mine (by-products including PGM, chrome, copper, and cobalt) with 125 employees and is currently under care and maintenance since March 2021\r\n• Bokoni (100%) - Combined mineral resources mine produced 28,199 6E PGM ounces, has 2,284 employees, and a LOM of less than 20 years\r\n\r\nFerrous operations include:\r\n• Khumani (50%) - Open pit merchandised iron ore mine produced 11.9Mt iron ore, has 3,655 employees, and a LOM of 20 years\r\n• Beeshoek (50%) - Open pit iron ore mine, nickel, PGMs and chrome produced 2.5Mt iron ore, has 1,226 employees, and a LOM of 6 years\r\n• Nchwaning (50%) and Gloria (50%) (collectively Black Rock) - Underground manganese ore mine produced 4.3Mt manganese ore, has 3,794 employees, and a LOM of more than 30 years\r\n• Cato Ridge Works (50%) - Smelter, processed 101,000t high-carbon ferromanganese and has 555 employees\r\n\r\nFerromanganese operations include:\r\n• Cato Ridge Alloys (25%) - Alloys produced 51,000 tons of medium-carbon manganese alloy\r\n• Machadorp (100%) - Smelter that is currently being used to develop energy-efficient smelting and has 97 employees\r\n• Sakura (27%) - Ferroalloys Smelter processed 253,000 tons of ferromanganese\r\n\r\nThermal Coal mining operations:\r\n• Goedgevonden - Open-pit mechanised mine operation (51%) - unincorporated joint venture with Glencore Operations South Africa (Pty) Ltd produces 7.3Mt saleable thermal coal with a LOM of less than 20 years\r\n• Participative Coal Business (PCB) (51%) - Open-pit mechanised mine (the Impunzi and Tweefontein operations) (20.2%) - managed by Glencore produces 10.2t saleable thermal coal with a LOM of 12 years\r\n\r\nTamboti Platinum Mine (100%) - following the acquisition of Tamboti Platinum (Pty) Ltd, holder of a mining right over the Kalkfontein Remaining Extent (RE) adjacent to Two Rivers Mine. An agreement has been reached with Implats and approvals are awaited to transfer this property into the Two Rivers Mine mining right