African Rainbow Minerals Profit Rises 19 Percent
African Rainbow Minerals reported a 19 percent increase in annual headline earnings as soaring platinum prices offset steep declines in its coal and iron ore divisions. The South African miner announced a higher final dividend.
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AFRICAN RAINBOW MINERALS LTD posted a 19% increase in annual headline earnings to 3.201 billion rand ($200.3 million) for the year ended June 30, driven by surging platinum group metal prices. The diversified South Africa miner's profit expansion offset weaker income across its coal, iron ore, and manganese divisions. The company will pay a final dividend of 7 rand per share, up from 6 rand per share in the previous financial year.
