African Rainbow Minerals to close loss-making Cato Ridge manganese plant, cutting hundreds of jobs by August 2025.
Assmang sells assets worth R453 million 26 million and divests Malaysian stake to boost ARMs liquidity amid mining sector pressures.
ARMs headline earnings drop 49 as commodity prices fall company pivots strategy amid environmental and market challenges.
African Rainbow Minerals ARM, the diversified mining company owned by Africa's first Black billionaire Patrice Motsepe, announced plans to slash jobs as it prepares to permanently close its loss-making Cato Ridge Works CRW plant.
The decision underscores ongoing challenges in South Africas manganese mining sector and broader commodity price pressures.
Cato Ridge closure signals shift in mining strategyThe Cato Ridge Works plant, operational since 1956 and crucial for beneficiating manganese ore from Northern Cape mines, has been a financial drain on ARMs joint venture Assmang. Assmang, equally owned by ARM and Assore, is one of the worlds top ten producers of ferromanganese.
The company confirmed the permanent shutdown of CRW, which currently employs 358 permanent staff and 193 contractors. While it has not disclosed the exact number of job cuts, all affected employees are set to be retrenched by Aug. 31, 2025.
Assmang plans to remediate the CRW site and transform it into a commercial and logistics hub, signaling a strategic pivot from manganese beneficiation to property redevelopment.