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Company
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- Company Overview
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- History
History
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Company milestones |
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1975
- Founding consortium, including Anthony Simon Malone, acquires Rand London Mines
(Metmin) and begins operating as Metorex (Pty) Ltd
- Metorex acquires Alumina Mining Company
- Metorex acquires Gopane, Bophutaswana
1976
- Metorex acquires Dump & Dune Drillers
1982
- Metorex acquires Oamites, Namibia
- Metorex acquires Sterkfontein Dolomite Quarry
1983
- Charles Needham joins Metorex as financial manager of Rand London (Metmin)
1984
- Metorex acquires Klein Aub, Namibia
- Metorex acquires Tintan, Namibia
1987
- Acquisition and listing of Cengold Holdings on the JSE
- Metorex acquires Primrose Gold Mine
- Metorex acquires Kaapsehoop Asbestos
- Metorex acquires Nestor (Lily Mine)
1989
- Acquires Maranda Mining Co. Erection of infrastructure commences (copper/zinc/silver)
- Acquires Letaba Copper-Zinc Mine
1994
- Acquires Rooiberg Tin acquired
1995
- Acquires Leeuwfontein Colliery (coal)
- Acquires Bankfontein Colliery (coal)
1996
- Metorex acquires Side Minerals (coal marketing)
- Metorex acquires Lakeside Colliery (coal)
- Metorex Agreement to manage Rovic Diamonds
1997
- Consolidated Murchison acquired, includes management of Antimony Products
- Chibuluma Mines, Kalulushi, Zambia acquired (copper/cobalt)
1999
- Aacquires Perkoa Zinc, Burkina Faso
- Acquires Vergenoeg Mining Co. (flourspar)
- Acquires O'kiep Copper Co. (copper)
December
- Metorex Limited lists on the JSE Securities Exchange and the London Stock Exchange
by means of a reverse listing through Consolidated Murchison Limited
- Consolidated Murchison becomes a division of Metorex Limited
2001
- Keith Spencer appointed to the Board of Metorex Limited
- Umnotho weSizwe Investment Holdings acquires 8% shareholding in Wakefield Investments
2002
- Vergenoeg achieves ISO 9001:2000 accreditation
2003
- Barberton Mines acquired (previously Anglovall ET Cons) gold.
- Concludes agreement with Shanduka Investments for their 26% stake in Barberton Mines
- ADR Programme established by the Bank of New York on behalf of Metorex Ltd.
2004
May
-
Metorex announces agreement with the Government of the DRC, La Générale Des Carriers et Des Mines ["Gecamines"], and Sentinelle Global Investments (Pty) Ltd ["Sentinelle"] to mine and treat the high grade copper/cobalt orebody at Ruashi, and the Ruashi and Etoile stockpiles situated in the Katanga Province of the DRC
August
- Middelburg Townlands commences operating (Wakefield Investments)
- Chibuluma South mine commences operating
- O'okeip Copper Mine ceases operations
2005
February
- Mr AEG Trollip retires his Chairmanship after serving 30 years on the Board of Metorex.
Metorex acquires the Sable Zinc plant in Kabwe, Zambia
- Edward Legg appointed to the Board of Metorex Limited
March
- Metorex receives JSE approval for the Circular to Shareholders regarding the issue of 83,3 million Metorex Limited shares at 300 cents per share with respect to Phase 1 of the Ruashi Project in DRC
- Metorex commences trading through the Crest Electronic Trading and Settlement System on the London Stock Exchange effective Monday 25 April 2005
April
- Metorex effects a depositary interest arrangement with CREST whereby CREST members will
be able to hold and transfer interest in the company’s shares on the London Stock Exchange
May
- Metorex reaches a market cap of R100 billion
- Umnotho weSizwe Investment Holdings acquire a further 16.5% interest in
Wakefield Investments
June
- Sinking of the Chibuluma South Mine decline shaft intersects the underground workings
July
- Charles Needham appointed CEO of Metorex Limited; Simon Malone as Executive Chairman
- MOU signed between Metorex / Grailton Investments (Umnotho weSizwe Investments) for the disposed of Wakefield Investments to Shanduka Coal
October
- Metorex increases its stake in Ruashi to 67%
- Metorex announces that the board of Directors of Gecamines has approved the allocation of four additional copper and cobalt exploration areas to Ruashi Mining, which are envisaged to contain both copper and cobalt typical in the Copperbelt region of the Katanga Province of the DRC, being:
- Musonoi East (in the Kolwezi Area) – Part of PE 525
- Sokoroshe I – PE 523
- Sokoroshe II – PE 538
- Kileba
November
- The first in a series of heavy loads of the dismantled and refurbished O’kiep Copper Mine concentrator leaves O’kiep by road to the Ruashi mine site in the DRC where it will be re-erected after additional sections of the plant are refurbished by contractor companies in Johannesburg
December
- Mechanical erection at the Ruashi complex
2006
May
- Metorex increases its stake in Ruashi Holdings from 68% to 76%
June
- First ore fed into the plant at Ruashi mine
July
- Wet commissioning of Ruashi plant
August
- Construction at Ruashi is completed in under 12-months
- First copper/cobalt concentrate despatched from Ruashi to Sable processing facility in Zambia
September
- Metorex increases its investment in Barberton Mines to 74% by acquiring the 20% interest held by Crew Gold Corporation
- Metorex commences feasibility study on the erection of a zinc solvent extraction and electrowinning plant to treat the zinc tailings dump at Sable Processing Complex site in Zambia
2007
January
- Civil contractor appointed to commence earthworks and concrete foundations for Phase II
of Ruashi project
February
- Metorex acquires the 35% interest held by The Industrial Development Corporation of South Africa Limited in Chibuluma South Mine which is settled by way of an issue of new ordinary shares in Metorex, giving Metorex an effective 90% stake in Chibuluma
March
- Metorex increases its stake in the Ruashi Project to 80%
May
- Metorex shares commence trading on the SETSmm electronic trading platform of the London Stock Exchange, under the code MTX
June
- Metorex receives Competition Tribunal approval received for disposal of Coal interests and concludes sale to Shanduka Coal
- Metorex receives National Treasure approval received for reverse acquisition of Pan African Resources, resulting in Metorex owning 55% of that company. This provided Metorex with a controlling interest in the AIM listed gold company
July
- Metorex announces its acquisition of 38.7% of DRC company Copper Resources Corporation [CRC] which is quoted on AIM, and 5% of Miniére de Musoshi et Kinsenda sarl [MMK] also of
the DRC
- CRC copper interests comprise 75% in MMK, a 20% free carried interest in the Hinoba-an copper project in the Philippines contingent upon the establishment of a Joint Venture with Glencore and a Chinese partner, and a 60% earn-in interest in the Haib copper project in Namibia
- MMK owns the Kinsenda, Musoshi and Lubembe copper deposits as well as various exploration permits totalling 572 km2 situated in the southern portion of the Katanga Province of the DRC
- Shareholders approve increase in Metorex authorised share capital from 350,000,000 to 500,000,000 ordinary shares of 10 cents each
November
-
Metorex releases Pre-conditional officer Document to purchase all remaining shares of CRC of 73 Metorex shares for every 100 CRC shares with cash alternative
December
- Metorex announces its acquisition of Phoenix Platinum Limited
- Metorex announces the terms of an offer to acquire the entire issued and to be issued share capital of CRC.
2008
January
- Metorex further extends its offer to Minority Shareholders of CRC to acquire the entire issued and to be issued share capital of CRC (as set out in the Offer Document) to Friday, 18 January 2008.
- Metorex unconditionally contracts to acquire 5,590,000 CRC shares, representing approximately 6.6 per cent of the current issued share capital of CRC.
February
- Metorex publishes its interim results for the six month period ended 31 December 2007
June
- Metorex management meets with and provides a presentation to investors and analysts in the United States from 2 to 6 June 2008.
- Metorex announces that a fire broke out at the Ruashi Concentrator at 20h40 on 30 June which was extinguished by 21h05 on the same day with little damage to infrastructure and no injury to employees. Normal operations commence on 3 July.
August
- Metorex publishes its preliminary results for the financial year ended 30 June 2008.
November
- Metorex publishes a Cautionary Announcement.
- Metorex publishes details with respect to a R3 billion capital and debt restructuring programme, a specific issue of shares for cash, a declaration in terms of a renounceable claw back offer, and a withdrawal of the cautionary announcement.
December
- Metorex announces implementation of the Claw Back offer on in which Metorex intends to raise R258 923 194, before expenses, through the issue of 129 461 597 new Metorex shares (“Claw Back Shares”), at a price of 200 cents per share in the ratio of 34.94 Claw Back Shares for every 100 Metorex shares currently in issue.
- 23 December : Metorex holds a General Meeting when the requisite majority of Shareholders approved the special resolution, and all the ordinary proposed resolutions relating to the issue of shares for cash raising R485 million, as detailed in the circular to shareholders dated 1 December 2008
2009
January
- 20 January : Metorex holds its Annual General Meeting for the financial year ended 30 June 2008 and announces the results.
- 26 January : Metorex advises that the results of the Claw Back Offer of 129 461 597 Metorex ordinary shares ("Claw Back Offer Shares") to Metorex shareholders, which closed on Friday, 23 January 2009, was under subscribed by 26%.
February
- 6 February : Metorex concludes negotiations with the DRC authorities with respect to the title review process of its DRC subsidiary companies.
- 10 February : Metorex elects to participate in the Copper Resources Corporation Offer for Subscription on a pro-rata basis, through the conversion of approximately US$25 million of its loan to CRC.
March
- 3 March : Metorex publishes its interim results for the six month period ended 31 December 2008.
April
3
- April : Metorex announces its acquisition of a further 246 579 089 shares in Copper Resources Corporation.
- 30 April : Metorex has commences legal proceedings against CAMEC for breach of the Articles in the amount of £86.3 million.
May
- 21 May : Metorex announces the sale of Phoenix Platinum Mining to Pan African Resources Plc (“PAR”) for an overall cash consideration to the amount of R71,3 million.
June
- 25 June : Metorex announces the disposal of its interest in Pan African Resources, which owns and operates Barberton Mines. The gross proceeds of this disposal amount to R386 million.
July
- 29 July : Metorex enters into a sale of shares agreement for 37 500 ordinary shares in Vergenoeg Mining Company (Pty) Ltd to Medu Capital, a consortium of Black Economic Empowerment controlled entities for a cash consideration of R 108 750 000.
September
- 9 September : Metorex publishes its Preliminary Results for the financial year ended 30 June 2009.
- 23 September : Metorex announces the disposal of its entire shareholding, comprising 137 500 ordinary shares constituting 55% of the issued ordinary share capital of Vergenoeg Mining Company (Pty) Ltd to Minerales Y Productos Derivados S.A., a 30% shareholder in Vergenoeg, for a cash consideration of US$60 million – subject to shareholder approval.
December
- 7 December : Metorex holds its Annual General Meeting and announces the results.
- 21 December : Metorex holds a General Meeting wherein the Shareholders approve of the disposal by Metorex of its entire shareholding in Vergenoeg Mining Company (Pty) Ltd.
2010
January
- 29 January : Metorex announces a US$ 100 million (with a Rand equivalent of approximately R750 million) capital raising programme and the simultaneous implementation of a US$ 100 million Ruashi revised debt package.
March
- 1 March : Metorex releases a maiden SAMREC Code compliant mineral resource estimate for the Dilala East deposit located on the Musonoi Est prospect area immediately north of Kolwezi in Katanga Province, Democratic Republic of the Congo.
- 2 March : Metorex releases its Interim Results for the six month period ended 31 December 2009.
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