For over 10 years, the company has navigated the demands of mining in Africa with a fair degree of skill, experience and agility. Operating in Zimbabwe, in particular, has been challenging at times, especially when hyperinflation, currency instability and issues with indigenisation laws caused uncertainty. In more recent years, with the adoption of the US$, a degree of normalisation has prevailed.
The company underwent a significant change in executive direction in 2015, following an EGM initiated by shareholders over corporate governance. Since then, a new board of directors has been appointed and a root and branch reform across the group and at its operations has occured.
The process of re-structuring the group’s operations continues, as the business is set on a long-term sustainable growth path once again and the Group is now emerging from one of its most challenging periods with cautious optimism.
Major events in the company’s history as of December 2016.
Mr Yat Hoi Ning steps down as Executive Chairman to become Group Chief Executive.
Mr David Murangari appointed as non-Executive Chairman of the Group.
Plans announced to start a mine operation in Zani Kodo (DRC).
Pre-feasibility underway for BNC’s refinery.
Change of name to Asa Resource Group plc.
New management and board of directors appointed.
BNC Smelter recommissioning initiated.
Freda Rebecca tailings retreatment pilot plant commissioned.
BNC mill and concentrator commissioned.
Mining resumed at Trojan.
Operations restarted at Freda Rebecca Gold Mine.
Sale of direct interest in Konongo (gold in Ghana).
Bindura Nickel Corporation placed on care and maintenance.
Acquisition of SouthernEra Diamonds (diamonds in DRC, Angola, Botswana and South Africa).
Freda Rebecca Gold Mine placed on care and maintenance.
Acquisition of a 20% stake in Société Minière de Bakwanga, MIBA (diamonds in DRC)
Mwana Africa PLC was formed through a reverse takeover of African Gold plc, the AIM-listed African gold explorer and miner, by Mwana Africa Holdings (Proprietary) Ltd.
Mwana Africa Holdings (Proprietary) Limited, a private South African company, was established in 2003 and completed three major mining acquisitions, including the Bindura nickel mine in 2003, the Anmercosa base metal and gold prospects in the Katanga copper belt in 2004, and the Freda Rebecca gold mine in 2005.