JOHANNESBURG (miningweekly.com) – A fall in realised iron-ore prices, coupled with above-inflation unit cost increases at some operations have resulted in African Rainbow Minerals’ (ARM) expecting its earnings a share for the six months ended December 2012, to be lower at between 630c and 675c.
This was down from earnings a share of 937c for the six months ended December 31, 2011.
Basic earnings per share were expected to be in the same range of between 630c and 675c.
The decrease was partially offset by improved performances at the Nkomati nickel mine, ARM Coal and increased sales volumes for nickel, iron-ore, Eskom thermal coal, export thermal coal and platinum-group metals.
The weaker rand/dollar exchange rate had a positive impact on the interim results for the period.
The company’s interim results would be released on February 26.