The earnings of black-owned diversified mining company African Rainbow Minerals ARM were buoyed in the six months to December 31 by soaring platinum earnings, which helped to offset lower manganese metals and thermal coal prices. ARM Platinum’s half-year headline earnings rocketed 193% to R489-million and along with higher iron-ore prices shielded the JSE-listed ARM group from the decline in the prices of manganese ore, manganese alloy and coal. The company, headed by executive chairperson Patrice Motsepe, generated R140-million more operational cash to R92-million, despite a R1 280-million increase in working capital requirements.
