African Rainbow Minerals to Cut Capex, Jobs as Profit Slumps

Updated on
  • Earnings from ferrous unit plunge on global iron-ore glut
  • Dividend cut as commodity prices tumble on China weakness

African Rainbow Minerals Ltd. will cut jobs and capital expenditure and reduced its dividend after the South African mining company’s full-year profit fell 58 percent due to a slump in commodity prices.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.