According to the company's website, it is the first African-owned and African-managed business to be listed in the Resources sector of the London Stock Exchange's Alternative Investment Market.
ASA founded in 2003 by a consortium of businesspeople, including Kalaa Katema Mpinga, David Fish, Tim Wadeson, Oliver Mandishona Chidawu and Douglas Tawanda Munetsi.
[6] In 2014, Mwana Africa fired chairperson Mark Wellesley-Wood "amid suspicion he was an agent for a hostile takeover" by Centar Mining.
[8] ASA between 2015 and April 2017 was accused of mismanagement due to the dominance of its shareholder China International Group Corporation.
[9] In Zimbabwe, there were disputes between Freda Rebecca Gold Mine employees and Asa Resources over salary drops and management changes, with workers giving notice of intention to strike.
[11] In July 2017 as well, ASA's shares on the London exchange were suspended, after alleged improper accounting of assets among subsidiaries.
[14] It was reported that Asa was facing a hostile takeover by Rich Pro, a Chinese firm allegedly connected to the two missing executives.
[13] In February 2018, 10 firms under ASA Resources Group were "seeking to be placed under provisional judicial management citing viability challenges," including Freda Rebecca Holdings, Hunter’s Road Nickel Mine, Trojan Nickel Mine, BSR Limited, Greenline Enterprises, ASA Services Zimbabwe, Bindura Estates and Mwana Properties.
[12] In 2018, a number of its mines were struggling with debt, with Freda Rebecca partly attributing the issue to mismanagement by ASA Resource Group.