Coal|Contractor|Engineering|Explosives|Financial|Gas|Iron Ore|Logistics|Mining|Platinum|PROJECT|Safety|Maintenance|Environmental
Coal|Contractor|Engineering|Explosives|Financial|Gas|Iron Ore|Logistics|Mining|Platinum|PROJECT|Safety|Maintenance|Environmental

ARM declares final dividend in financial year of R6.6bn dividend payout

African Rainbow Minerals Executive Chairperson Dr Patrice Motsepe.

African Rainbow Minerals Executive Chairperson Dr Patrice Motsepe.

4th September 2023

By: Martin Creamer

Creamer Media Editor


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JOHANNESBURG ( – Diversified mining company African Rainbow Minerals (ARM) has declared a R2.6-billion final dividend in a financial year of R6.6-billion worth of dividends being allocated to its shareholders.

Net cash of the Johannesburg Stock Exchange-listed company, headed by executive chairperson Dr Patrice Motsepe, stood at R9 779-million as at June 30, amid a headline earnings decrease of 21% to R8 981-million.

On the operational front, iron-ore, manganese ore and thermal coal volumes were negatively impacted by logistics challenges and unit production costs remained under pressure owing to lower production volumes and above-inflation increases in the costs of explosives, diesel, electricity, consumables, and maintenance costs.

The definitive feasibility study (DFS) for the Bokoni platinum acquisition has been advanced, with the project expected to be attractive in terms of industry cost competitiveness. The DFS will now advance to bankable feasibility and then be presented to the board for approval.

On the environmental front, progress has been made towards developing decarbonisation pathways to meet the long-term target to achieve net-zero Scope 1 and 2 greenhouse gas emissions from mining by 2050. As a member of the International Council on Mining and Metals, ARM has published its progress towards conformance with the global industry standard on tailings management.

The improved safety performance reflected in an advanced lost-time injury frequency rate of 0.27 was marred by a fatality at Two Rivers mine when engineering assistant contractor employee Seutlwadi Ramathesela succumbed to injuries.

Net cash outflow from investing activities of R7 511-million included the net cash payment of R3 441-million for the acquisition of Bokoni.

Borrowings of R251-million were repaid during the period, resulting in gross debt of R242-million at June 30, well down on last year’s R484-million.

Group net asset value per share increased by 7% to R219.04 a share.

Edited by Creamer Media Reporter



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