By: Creamer media

“We maintained a robust financial position, with net cash of R6 073-million,” ARM stated in a stock exchange news service announcement.

Headline earnings for the six months decreased by 49% to R1 520-million or R7.75 a share.

Iron-ore production volumes were lower than the corresponding period of FY2024 owing mainly to reduced offtake from steelmaker ArcelorMittal South Africa.

Unit costs remained under pressure due to lower production volumes and above-inflation increases in costs at the iron-ore and coal operations.

Platinum group metal (PGM) production volumes rose marginally on an increase in ounces at Bokoni platinum mine amid the higher mining development costs of Bokoni being in ramp-up phase.

The lower average realised export iron-ore prices and stronger rand:dollar exchange rate were partially offset by higher manganese ore and alloy prices.

Construction of ARM Platinum’s 100 MW solar PV facility is progressing on schedule, with the first power delivery expected in August.

With the definitive feasibility study for renewable energy at ARM Ferrous completed in December, various funding models and energy mix options are being reviewed.

Meanwhile, a water supply deficit from Vaal Central Water Board poses a risk to the Khumani mine operations, ARM stated in a release to Mining Weekly.

ARM, headed by executive chairperson Dr Patrice Motsepe, mines and beneficiates iron-ore, manganese ore, chrome ore, PGMs, nickel and coal and also has a strategic investment in gold through Harmony Gold Mining Company.