African Rainbow Minerals (ARM) is a leading South African diversified mining and minerals company with operations in South Africa and Malaysia. ARM mines and beneficiates iron ore, manganese ore, chrome ore, platinum group metals (PGMs), nickel and coal. It also produces manganese alloys and has a strategic investment in gold through Harmony Gold Mining Company Limited (Harmony Gold).
The benefits of ARM’s quality, diversified portfolio enabled the company to maintain a robust financial position, despite lower commodity prices and challenges with logistics, power and above-inflation costs.
Dr Patrice Motsepe
Executive chairman
The value created by our activities is distributed to a range of stakeholders. In F2023, we distributed R21.2 billion of financial value on a segmental basis, as illustrated below.
ARM is committed to responsible and sustainable mining and beneficiation, with zero tolerance for harm to employees, contractors, host communities and the environment.
The commodities produced by ARM operations are essential inputs for a range of products that contribute to many aspects of modern life. They also play important roles in emerging solutions that support a lower-carbon future and contribute to aspirations articulated in the United Nations Sustainable Development Goals (SDGs).
In another challenging year, our operations further improved their safety performance, reducing the group LTIFR by 13%. The total recordable injury frequency rate improved by 10%. Regrettably, this performance was marred by the loss of a contractor employee in the first half of the financial year.
Phillip Tobias
Chief executice officer (CEO)
Our headline earnings for F2024 decreased by 43%, largely attributed to the decline in the average US dollar 6E PGM basket price and lower thermal coal prices.
Tsundzukani Mhlanga
Finance director
Decline in average realised US dollar PGM prices
162% decrease in headline earnings
Two Rivers Mine Merensky project placed on care and maintenance
World-class safety performance
Robust free cash flow generation
Completion of the Black Rock and Gloria projects
Extracting optimal value from the Mineral Resources and Mineral Reserves in our portfolio is fully aligned to ARM’s purpose of delivering competitive returns and creating sustainable value for all our shareholders through its strategic pillars
A holistic assessment of ARM’s ability to create sustainable value, with relevant extracts from the 2024 suite of reports.
The audited annual financial statements have been prepared according to International Financial Reporting Standards (IFRS Accounting Standards).
A detailed review of our performance on key environmental, social and governance matters. The ESG report includes the full remuneration report and should be read in conjunction with the GRI Index.
A detailed review of our performance on key climatechange and water matters, in line with the Task Force on Climate-related Financial Disclosures (TCFD) and IFRS S2 Climate-related financial disclosure.
A summary of how ARM implements the principles and practices in King IV to achieve the governance outcomes envisaged.
In line with JSE Listings Requirements, ARM prepares Mineral Resources and Mineral Reserves statements for all its mining operations as per SAMREC guidelines and definitions (2016).
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