Cape Town – African Rainbow Minerals (ARM), the South African mining group chaired by billionaire Patrice Motsepe, reported a 19% increase in annual headline earnings to R3.201 billion for the financial year ended 30 June 2026, up from R2.695 billion a year earlier.
The main driver was a strong recovery in platinum-group metals (PGMs). PGM prices rose by more than 50% year on year, allowing ARM’s PGM operations to swing from a R1.288 billion loss in the previous year to a R1.345 billion profit, Reuters reported.
However, the gains were partly offset by weaker performance in ARM’s other businesses:
- Ferrous operations — iron ore and manganese — saw headline earnings fall 42% to R2.028 billion. The decline was partly linked to a 75% drop in sales at the mothballed Beeshoek mine and the stronger rand’s impact on Khumani mine earnings.
- Coal operations swung to a R428 million loss, compared with a profit in the previous year, as coal prices weakened.
ARM also increased its final dividend to R7 per share, from R6 previously, according to MarketScreener.
Looking ahead, the company is investing heavily in its growth projects. It has approved a R15.2 billion phased upgrade of the Bokoni platinum mine, with peak production targeted at 350,000–400,000 ounces a year by 2032. ARM is also restarting nickel mining and concentrate production at Nkomati, with expected annual output of about 56,065 tonnes under an offtake agreement with Sweden’s Boliden.
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Compiled by Glaan Sibuyi
