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African Rainbow Minerals Ltd (ARIJ.J)

ARIJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

African Rainbow drops KPMG South Africa as internal auditor
Monday, 23 Oct 2017 06:04am EDT 

Oct 23 (Reuters) - African Rainbow Minerals Ltd :TERMINATES INTERNAL AUDIT AND OTHER SERVICES WITH KPMG SOUTH AFRICA (KPMG) ‍​.AFRICAN RAINBOW - NOTED THE QUESTIONS RAISED ABOUT KPMG’S GOVERNANCE AND ETHICS COMPLIANCE AS WELL AS ALLEGATIONS REGARDING THE LAWFULNESS.  Full Article

African Rainbow Minerals ‍FY HEPS at 1,684 cents vs 494 cents yr ago​
Thursday, 7 Sep 2017 01:06am EDT 

Sept 7 (Reuters) - African Rainbow Minerals Ltd ::‍FY HEADLINE EARNINGS INCREASED BY 204% TO R3 196 MILLION (F2016: R1 051 MILLION)​.‍FY HEADLINE EARNINGS PER SHARE WERE 1,684 CENTS COMPARED TO 494 CENTS IN PREVIOUS CORRESPONDING FINANCIAL YEAR​.‍DIVIDEND DECLARED INCREASED BY 189% TO 650 CENTS PER SHARE (F2016: 225 CENTS PER SHARE)​.‍AT 30 JUNE 2017 ARM WAS IN A NET DEBT POSITION OF R1 271 MILLION COMPARED TO NET DEBT OF R4 235 MILLION AT 30 JUNE 2016​.AFRICAN RAINBOW MINERALS - CO, GLENCORE OPERATIONS SOUTH AFRICA ARE IN DISCUSSIONS CONCERNING RESTRUCTURING OF ARM COAL PARTNER LOANS.  Full Article

African Rainbow Minerals sees 2017 HEPS between 1625-1702 cents
Monday, 21 Aug 2017 10:30am EDT 

Aug 21 (Reuters) - AFRICAN RAINBOW MINERALS LTD ::2017 HEPS EXPECTED TO INCREASE BY BETWEEN 229%-245% COMPARED TO 2016 TO BETWEEN 1625 AND 1702 CENTS.2017 BASIC EARNINGS PER SHARE ARE THEREFORE EXPECTED TO INCREASE TO A BASIC EARNINGS PER SHARE OF BETWEEN 695-745 CENTS.  Full Article

African Rainbow Minerals announces disposal of indirect interest in Lubambe copper mine
Tuesday, 15 Aug 2017 10:44am EDT 

Aug 15 (Reuters) - AFRICAN RAINBOW MINERALS LTD ::‍DISPOSAL OF ARM'S INDIRECT INTEREST IN LUBAMBE COPPER MINE​.‍ARM AND VALE CONCLUDED AGREEMENT TO SELL 80% INDIRECT INTEREST IN ZAMBIA'S LUBAMBE MINE TO EMR CAPITAL BIDCO.‍PURCHASE CONSIDERATION FOR DISPOSAL IS US$97.10 MILLION AND WILL BE SETTLED IN CASH​.  Full Article

African Rainbow Minerals lays out FD succession plan
Monday, 12 Jun 2017 10:20am EDT 

June 12 (Reuters) - African Rainbow Minerals Ltd ::‍Mike Arnold will be retiring as financial director of arm on Dec. 10, 2017.‍Arnold will work with new financial director for a period of six months as part of handover process.‍Arnold will remain on arm board as a non-executive director with effect from retirement date and provide consulting services.‍Decision to appoint Abigail Mukhuba, current chief financial officer of ARM, as financial director with effect from Dec. 11, 2017.  Full Article

African Rainbow Minerals sees H1 2017 HEPS to increase by between 272 pct and 288 pct
Tuesday, 7 Mar 2017 08:00am EST 

African Rainbow Minerals Ltd :Says headline earnings per share for 1H F2017 are expected to increase by between 272% and 288% compared to 1H F2016 to between 867 cents and 903 cents.  Full Article

African Rainbow Minerals sees FY HEPS down 36-41 pct
Friday, 19 Aug 2016 09:00am EDT 

African Rainbow Minerals Ltd : Trading statement in respect of the year ended June 30 2016 . HEPS for F2016 are expected to decrease by between 36 pct and 41 pct compared to F2015 to between 475 cents and 510 cents (F2015: 803 cents) .Headline earnings for FY 2016 negatively affected by decline in average U.S. dollar commodity prices for all commodities which ARM produces.  Full Article

African Rainbow Minerals Ltd Minerals cuts jobs as H1 profits halve - Reuters News
Thursday, 10 Mar 2016 08:46pm EST 

African Rainbow Minerals Ltd:Diversified mining group African Rainbow Minerals (ARM) said on Friday its first-half profit halved due to sharply softer commodity prices, prompting layoffs and costs cuts to stay afloat - RTRS.Headline earnings per share, a measure that strips off certain one off items, in the six months to December reached 233 cents from 473 cents a year earlier.ARM, which has interests in platinum, iron ore, coal, copper, and gold saw lower prices in all of its commodities except for chrome."ARM has responded proactively to the commodity price downturn and has implemented operating and capital cost reduction initiatives at all its operations," the company said in a statement.The company operates joint ventures with Anglo American Platinum, Assore, Impala Platinum, Glencore and Vale.ARM cut planned spending for the first half of 2016 by 15 percent to 1.4 billion rand ($92 million) mainly from curtailments in the ferrous metals Black Rock Project, which is its most capital intensive venture.The company said it would cut jobs at its platinum mines Modikwa and Nkomati, Beeshoek iron ore mine and Khumani chrome mines but did not say how many positions were on the line.  Full Article

BRIEF-African Rainbow drops KPMG South Africa as internal auditor

* TERMINATES INTERNAL AUDIT AND OTHER SERVICES WITH KPMG SOUTH AFRICA (KPMG) ‍​