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Last 6,100
Change Today +300.00 / 5.17%
Volume 1.2M
ARI On Other Exchanges
As of 11:00 AM 10/7/15 All times are local (Market data is delayed by at least 15 minutes).

african rainbow minerals ltd (ARI) Snapshot

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Day High
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52 Week High
10/17/14 - $15,290
52 Week Low
09/30/15 - $5,014
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Average Volume 10 Days
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african rainbow minerals ltd (ARI) Details

African Rainbow Minerals Limited, through its subsidiaries, operates as a diversified mining and minerals company in South Africa. The company explores for iron ore, manganese ore and alloys, chrome ore and alloys, platinum group metals, copper, nickel and coal, as well as gold. Its gold assets include 10 underground mines, 1 open pit operation, and various surface sources in South Africa. African Rainbow Minerals Limited is based in Sandton, South Africa.

african rainbow minerals ltd (ARI) Top Compensated Officers

Chief Executive Officer, Director, Chairman o...
Total Annual Compensation: R9.6M
Executive Chairman and Chairman of Executive ...
Total Annual Compensation: R10.8M
Financial Director, Executive Director, Chair...
Total Annual Compensation: R6.5M
Chief Executive of Strategic Services & Explo...
Total Annual Compensation: R8.6M
Chief Executive of Platinum
Total Annual Compensation: R5.3M
Compensation as of Fiscal Year 2014.

african rainbow minerals ltd (ARI) Key Developments

African Rainbow Minerals Limited Declares Gross Annual Dividend for the Year Ended June 30, 2015, Payable on October 5, 2015; Reports Provisional Group Earnings Results for the Year Ended June 30, 2015; Provides Capital Expenditure Guidance for Fiscal 2016

The Board of African Rainbow Minerals Limited has approved and declared a gross annual dividend of 350 cents per share in respect of the year ended June 30, 2015 (2014: 600 cents per share). The last day to trade ordinary shares cum dividend is September 25, 2015. Ordinary shares trade ex-dividend from September 28, 2015. The record date is October 2, 2015 whilst the payment date is October 5, 2015. The company reported provisional group earnings results for the year ended June 30, 2015. Headline earnings per share were 803 cents against 1,900 cents last year. Headline earnings decreased by 58% to ZAR 1,744 million against ZAR 4,108 million last year. The reduction in headline earnings was largely as a result of a decline in average realized US Dollar prices for iron ore, manganese ore, platinum, nickel, export thermal coal and copper. Profit attributable to equity holders was ZAR 104 million against ZAR 3,289 million last year and was negatively impacted by special items of ZAR 1,640 million after tax against ZAR 819 million loss after tax last year. The special items relate to (i) the unrealized mark-to-market loss of ZAR 534 million after tax on the Harmony investment made through the income statement. This accounting adjustment is made using the closing share price of Harmony at June 30, 2015. Additional special items comprise (ii) smelter, plant and feasibility study impairments in ARM Ferrous of ZAR 292 million after tax as well as (iii) an attributable impairment of the Lubambe copper mine assets of ZAR 784 million. Sales for the year decreased by 7% to ZAR 9.26 billion against ZAR 10.00 billion last year. Earnings were positively impacted by the weakening of the Rand against the US Dollar. Earnings before interest, tax, depreciation and amortization (EBITDA) excluding special items and income from associates and joint ventures were ZAR 2,087 million against ZAR 2,620 million last year. The net cash/(debt) position at June 30, 2015 amounts to net debt of ZAR 1,625 million and is slightly higher in comparison to the net debt position of ZAR 1,352 million at June 30, 2014. Cash spent on capital expenditure was ZAR 1,276 million against ZAR 1,133 million last year. Revenue was ZAR 10.2 billion against ZAR 10.9 billion last year. Profit from operations before special items was ZAR 1.0 billion against ZAR 1.7 billion last year. Profit before taxation and special items was ZAR 2.1 billion against ZAR 4.7 billion last year. Profit before taxation was ZAR 426 million against ZAR 4,090 million last year. Diluted headline earnings per share were 799 cents against 1,886 cents last year. Diluted basic earnings per share were 48 cents against 1,510 cents last year. Net cash inflow from operating activities was ZAR 2,055 million against ZAR 2,077 million last year. The attributable capital expenditure (including ARM Ferrous) at ZAR 3,326 million was approximately ZAR 400 million higher than fiscal 2014, mainly as a result of increased waste stripping costs at Nkomati Mine and expenditure on upgrading infrastructure at the Black Rock and Modikwa operations. All planned capital expenditure has been extensively reviewed in order to reduce or defer capital expenditure without compromising the long-term sustainability of operations. Attributable capital expenditure guidance for fiscal 2016 (including ARM Ferrous), which was previously ZAR 2,900 million, has been reduced by ZAR 500 million to ZAR 2,400 million. The lower guidance for fiscal 2016 is approximately ZAR 1 billion lower than the expenditure in fiscal 2015 in response to the lower commodity price environment.

African Rainbow Minerals Limited, 2015 Earnings Call, Sep 04, 2015

African Rainbow Minerals Limited, 2015 Earnings Call, Sep 04, 2015

African Rainbow Minerals Limited Provides Earnings Guidance for the Financial Year Ended June 30, 2015

African Rainbow Minerals Limited (ARM) reported that headline earnings and basic earnings to be reported on for the financial year ended June 30, 2015 would be at least 45% and 55% lower, respectively, than those of the previous financial year. The company and its directors are satisfied that a reasonable degree of certainty exists to provide shareholders with an update of the likely range by which the company's headline earnings per share and basic earnings per share are expected to decrease. ARM's headline earnings were negatively affected by a decline in US Dollar commodity prices for most of the commodities which ARM produces. The lower US Dollar prices were partially offset by a weaker average Rand/US Dollar exchange rate. Most of the operations achieved good unit cost control. Accordingly, ARM announced that headline earnings per share for 2015 are expected to decrease by between 56% and 60% to between 765 cents and 835 cents. ARM's basic earnings were largely impacted by the following special items: an unrealised mark-to-market loss on the Harmony Gold Mining Company Limited (Harmony) investment of ZAR 543 million after tax due to the decline in Harmony's share price below the level at June 30, 2014. The basic earnings per share are therefore expected to decline by between 96% and 97% to between 46 cents and 53 cents.


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