The History of Abagold

Timeline

1984

  • Dr Pierre Hugo, then a veterinarian in Hermanus, starts researching the secrets of breeding abalone in captivity

1989

  • Based in the Old Harbour in Hermanus, experiments are undertaken to breed abalone

1991

  • A pilot hatchery is set up in the Old Harbour in Hermanus

1993

  • Permit received to cultivate, harvest and sell abalone
  • 500,000 abalone larvae released into the Old Harbour for re-seeding

1995

  • The business is incorporated into Hermanus Abalone (Pty) Ltd

1998

  • Sea View abalone farm with 60 tonne per annum capacity established in the New Harbour
  • Cultivation of the first abalone pearls

1999

  • First 100kg of live farmed abalone is exported to the Far East

2002

  • R35m is raised through a share issue and bank loans to finance the purchase and construction of Bergsig abalone farm in Hermanus

2003

  • The first of 1000 tanks is placed on Bergsig
  • Hermanus Abalone (Pty) Ltd changes its name to Abagold (Pty) Ltd

2004

  • The staff complement grows to 120 employees

2005

  • The Bergsig development is completed

2006

  • Abamax Abalone Farm (Pty) Ltd sets up in the New Harbour, Hermanus, as a joint venture with an empowerment partner
  • Abagold’s world-class processing facility is commissioned
  • First dried abalone exported

2007

  • Abagold develops the “Pure Gold Abalone” brand and sells its first dried product under this brand
  • Abagold becomes the sole owner of Abamax Abalone Farm (Pty) Ltd (the farm Amaza)
  • The Company secures the lease for a 6.4 ha site in Hermanus in partnership with the Overstrand Municipality and local communities for the development of an integrated aquaculture project

2008

  • Abagold is converted to a public company and starts an “over-the-counter” market for its shares
  • The staff complement grows to 240 employees

2010

  • Abagold purchases a 7 ha site adjacent to Bergsig farm to develop an integrated aquaculture facility, named Sulamanzi
  • Abagold concludes a BEE deal by issuing 25% plus 1 share for cash

2011

  • Amaza farm is fully developed with a capacity of 7 500 baskets
  • Construction of the ambitious Sulamanzi project is started including a new water treatment dam and secondary pump house
  • Abagold’s processing facility is awarded the prestigious HACCP certification