[mine results] Manganese Mine owned by Assmang, South Africa: revenue growth 64 per cent year on year is expected to be strong in the future

SMM10 18: recently, South Africa Assmang released its 2018 financial report, which shows that the company's total revenue of 710 million rand, compared with the 2017 fiscal year 740 million rand, down 5% from the same period last year, of which its manganese mine revenue, an increase of 64% over the same period last year; Iron ore revenues fell 23 per cent from a year earlier.

Income contribution of various varieties:

The company's revenue was 710 million rand, of which manganese products accounted for 54%, up 23% from 31% in 2017, and iron ore accounted for 47%, down from 59% last year.

As for the future market prospects, the company believes that the current US economy is strong, but the economic situation in emerging markets is under great pressure, and the potential "trade war" has a certain impact that is difficult to quantify. In China, increased government spending on infrastructure will balance the weakness of the property market, the positive impact of environmental protection is expected to continue, and demand for quality raw materials is expected to remain strong. In South Africa, the 2018 draft mining charter is under discussion and the company is actively looking for appropriate opportunities for asset growth.

Production and sales:

Increase or decrease in product sales and prices from 2017 to 2018:

Compared with 2017, the company's iron ore market price fell 1% in 2018, but sales increased by 3%; manganese ore, the market price increased by 19%, sales increased by 7%; Manganese alloys saw a 22% increase in market prices and a 25% increase in sales, while chromium ore saw a 28% drop in market prices and a 22% increase in sales.

Appendix: price trend chart of iron ore and manganese ore in the past two years:

Iron ore price (62%Fe CFR China)

Manganese ore price (44%Mn CIF China)

Manganese alloy price (HCFeMn)