AFRICAN Rainbow Minerals dropped into a full-year loss, with the prices for its range of minerals coming under pressure, forcing the company to review a number of its assets.ARM, which is chaired by billionaire Patrice Motsepe, reported a R757m loss for the year to end-June compared with a profit of R73m a year earlier. Headline earnings fell 40% to R1.1bn.Despite the difficulties, ARM declared a dividend of 225c, which was lower than the 350c a year earlier.The Modikwa platinum mine, the Nkomati nickel mine and the coal division all reported headline losses based primarily on lower dollar prices for the products they delivered during the year.READ THIS: Council joins platinum deficit chorusOne of the worst performances in the year came from the ARM copper division, which posted a 29% deepening of its headline loss to R555m because of weak copper prices and ongoing operational difficulties at its Lubambe mine in Zambia, needing ARM and its partner Vale to pump cash into it.ARM has ...
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