https://www.miningweekly.com

Platinum, iron-ore, manganese boost ARM’s earnings

PATRICE MOTSEPE
African Rainbow Minerals’ results highlights the benefit of being a company with such a diverse asset portfolio

PATRICE MOTSEPE African Rainbow Minerals’ results highlights the benefit of being a company with such a diverse asset portfolio

Photo by Duane Daws

12th September 2014

By: Chantelle Kotze

  

Font size: - +

The headline earnings of black-controlled JSE-listed African Rainbow Minerals (ARM) increased 10% to R4.11-billion for the year ended June 30, the diversified mining company reported last week.

This increase was primarily due to a significant improve-ment in ARM Platinum and ARM Ferrous, the company’s iron-ore and manganese arm, which has a 50% stake in mining company Assmang, with Assore holding the balance.

ARM Platinum’s contribution to headline earnings was up by 68% to R883-million owing to excellent performance from the Nkomati and Two Rivers mines, in Mpumalanga, which increased headline earnings by 91% and 88% respectively, as a result of improved sales volumes and a weaker rand:dollar exchange rate.

ARM Ferrous contributed R3.74-billion to the company’s headline earnings in the 2014 financial year, an increase of 17% from the R3.19-billion recorded in the previous year. This was attributed to higher dollar prices for the business’s lumpy iron-ore and high-grade manganese ore.

Speaking at the company’s provisional results presentation last week, ARM executive chairperson Patrice Motsepe said headline earnings per share were R19, up on the R17.35 a share in the previous year.

ARM declared a record annual dividend of R6 a share in the 2014 financial year, up from the dividend of R5.10 a share in the previous year.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Latest Multimedia

Latest News

ASM CEO and MD Rowena Smith
ASM secures another financing letter of intent from Canadian agency
Updated 2 hours 26 minutes ago By: Marleny Arnoldi

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.135 0.171s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: