African Rainbow Minerals reports lower earnings in FY23, cuts dividend

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 78%

Deutschland Nachrichten Nachrichten

Deutschland Neuesten Nachrichten,Deutschland Schlagzeilen

A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.

- South African diversified miner African Rainbow Minerals said yesterday that its headline earnings in FY23 decreased by 21% to R8,981 million compared to FY22.

The company explained that the decline in FY23 headline earnings was mainly due to lower commodity prices, lower production and sales volumes largely due to logistics challenges, resulting in unit costs increasing by more than already elevated cost inflation. “Iron ore, manganese ore and thermal coal volumes were negatively impacted by logistics challenges,” the company said in a press release.

ARM added that unit production costs “remained under pressure” due to lower production volumes and above-inflation increases in the costs of explosives, diesel, electricity, consumables, and maintenance costs.African Rainbow Minerals 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 , nickel and coal and also has a strategic investment in gold through Harmony Gold Mining.

 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 13. in DE

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Nigeria to set up solid minerals corporation to attract investmentNigeria plans to set up the Nigerian Solid Minerals Corporation, a State-backed company to help attract investments into the extraction of gold, coal, iron-ore, bitumen, lead, limestone and baryte, a minister said on Sunday. 'The proposed corporation will seek and secure partnership investment agreements with big multinational companies worldwide to leverage on the attractive investment-friendly regime operating in the country to secure massive foreign direct investment for the mining sector,' Solid Minerals Minister Dele Alake said in a statement.
Herkunft: MiningWeeklyCA - 🏆 48. / 63 Weiterlesen »