Patrice Motsepe’s ARM rides high on iron ore prices
The performance was driven by the Ferrous business, which flourished as average iron ore prices increased 34%
Any company mining iron ore is sitting pretty of late thanks to high metal price, and Patrice Motsepe’s African Rainbow Minerals (ARM) is no exception.
Record iron ore earnings for the year ended June 2019 helped the diversified miner’s headline earnings increase 9% to R5.2bn. A final dividend of R9 a share was declared, bringing the total dividend for the past financial year to R13 a share, a 30% increase on the previous year.