Higher platinum and iron ore prices were slightly offset by lower manganese and coal prices, but profit rose in the group’s half-year to December
Patrice Motsepe-chaired upped its interim dividend to end-December by a quarter, with higher platinum group metal and iron ore prices offsetting lower prices for coal and manganese.
Headline earnings in the group’s platinum division almost tripled to R489m, amid surging platinum group metal prices in 2019, notably palladium and rhodium. ARM Ferrous, which includes its iron ore, manganese and chrome divisions, saw a 13% fall in headline earnings to R1.8bn, with gains in iron ore offset by a fall in its manganese division.
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