Palabora Mining Company Limited, established in 1956, is a publicly traded mining company which operates underground and open-pit mines. PMC’s mines produce copper and byproducts, including precious metals from sulfuric acid; nickel sulfate; anode slimes; vermiculite and magnetite. In fact, their open cast mine is the widest man-made hole in Africa, at nearly 2 000 meters in width.
Over and above the companies mining efforts, Palabora maintains subsidiaries in Singapore, the United Kingdom and the United States for marketing vermiculite.
The JSE listed company is headquartered in Phalaborwa, Limpopo, South Africa and is the countries sole producer of refined copper. 57% of the companies stock is owned by the Rio Tinto Group (international mining conglomerates); while 17% is owned by Anglo American PLC and the remaining 26% is a public float.