Lower PGM prices take a toll on African Rainbow Minerals
Despite boost from weaker rand, miner expects interim headline earnings to fall as much as 50%
28 February 2024 - 15:07
African Rainbow Minerals (ARM) expects a decrease in earnings for the half-year to end-December as a result of the decline in platinum group metals (PGMs) and thermal coal prices.
The diversified miner expects its interim headline earnings to fall by 40%-50% year on year to between R2.586bn and R3.103bn. Headline earnings per share (HEPS) are expected to come in at R13.19-R15.83, compared with R26.39. The precious metals and mining index was off 1.58%. ..
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