ARM’s quality diversified portfolio supported its resilience in a volatile and challenging period, maintaining a robust financial position.
Key features of F2024 illustrate the effectiveness of our strategy and actions in managing short-term impacts while preserving longer-term value.
Ensuring that our operations are globally competitive and profitable.
Maintaining a robust balance sheet.
Aligning production capacity to logistics and infrastructure constraints.
Exploring value-enhancing growth opportunities.
Headline earnings decreased by 43% to R5.1 billion (F2023: R9.0 billion)
Total dividend decreased to R15 per share (F2023: R26 per share)
Robust net cash of R7.2 billion
One fatality at Bokoni Platinum Mine
Lost-time injury frequency rate (LTIFR) improved to 0.22 per 200 000 man-hours (F2023: 0.27)
Total recordable injury frequency rate (TRIFR) improved to 0.50 (F2023: 0.62)
Black Rock Mine achieved 12 million fatality-free shifts over 15 years
Modikwa Mine achieved 3 million fatality-free shifts over two years
Decline in average US dollar 6E PGM basket price and lower thermal coal prices
Unit production costs remained under pressure, lower production volumes, above-inflation increases in electricity costs, and higher waste-stripping expenses at iron ore operations
Scope 1 and 2 emissions were reduced by 5% to 1.69Mt CO2e (F2023: 1.78Mt CO2e) through focused initiatives (100% basis)
Progress on developing decarbonisation pathways includes building a 100MW solar plant to power ARM’s platinum operations by August 2025. Definitive feasibility study on renewable energy for ARM ferrous operations to be completed by December 2024
Operational water withdrawn1 was 23.25 million m3 (F2023: 18.16 million m3)
R189 million (F2023: R124 million) invested in corporate social responsibility
R399 million (F2023: R371 million) invested in skills development and training
Continuing positive relationships with communities neighbouring our mines
| 1 | Operational water withdrawn includes Bokoni Platinum Mine. Excluding Bokoni Platinum Mine, total operational water withdrawn would be 17.46 million m3. |
Diversified portfolio of commodities
Quality, long-life assets and orebodies
Robust financial position to create and sustain value
Continuing positive relationships with communities neighbouring our mines, and broader stakeholder groups
Focused capital allocation to deliver competitive shareholder returns and ensure business sustainability
Embedding environmental, social and governance (ESG) practices to enable integrated decision making
High standards of corporate governance and transparent disclosure
ARM is a constituent of the FTSE4Good Index Series
