{"id":8388,"date":"2012-02-27T14:39:38","date_gmt":"2012-02-27T12:39:38","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-1-african-rainbow-h1-earnings-lifted-by-sales\/"},"modified":"2012-02-27T14:39:38","modified_gmt":"2012-02-27T12:39:38","slug":"update-1-african-rainbow-h1-earnings-lifted-by-sales","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-african-rainbow-h1-earnings-lifted-by-sales\/","title":{"rendered":"UPDATE 1-African Rainbow H1 earnings lifted by sales"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details, background, quote)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, FEB 27 &#8211; African Rainbow Minerals<br \/>\n, a South African diversified mining group, said on<br \/>\nMonday its earnings increased by 24 percent as sales volumes for<br \/>\nall of its key commodities rose.<\/p>\n<p><span><\/span><\/p>\n<p>Sales were 30 percent higher at 8.72 billion rand with<br \/>\nvolume increases in iron ore, manganese ore, manganese alloys,<br \/>\nplatinum group metals, nickel, chrome concentrate and thermal<br \/>\ncoal, which is sold to power utility Eskom.<\/p>\n<p><span><\/span><\/p>\n<p>The company is targeting growth through the development of<br \/>\nits four major projects in iron ore, nickel, coal and copper.<br \/>\nKey among these is the ramp up of production of iron ore to 16<br \/>\nmillion tonnes per annum at the Khumani Mine in South Africa.<\/p>\n<p><span><\/span><\/p>\n<p>Nickel production at Nkomati is being increased to 20,500<br \/>\ntonnes per annum and the Goedgevonden Mine is moving towards 7.0<br \/>\nmillion tonnes per annum.<\/p>\n<p><span><\/span><\/p>\n<p>Copper output at the Konkola North Copper project in<br \/>\nDemocratic Republic of Congo is forecast to be 45,000 tonnes per<br \/>\nannum at full production.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are making substantial progress with our growth<br \/>\nprojects and are excited about government&#8217;s stated commitment to<br \/>\nallocate huge resources to upgrade rail, port and electricity<br \/>\ninfrastructure,&#8221; said ARM Executive Chairman Patrice Motsepe.<\/p>\n<p><span><\/span><\/p>\n<p>ARM warned of above inflation increases particularly in<br \/>\nlabour, electricity and diesel but it believes that commodity<br \/>\nprices will remain robust over the medium to long term.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings per share were 912 cents for the six<br \/>\nmonths to end December from 734 cents a year ago.<\/p>\n<p><span><\/span><\/p>\n<p>Headline earnings are the main profit gauge in South Africa<br \/>\nand strip out certain one time items.<\/p>\n<p><span><\/span><\/p>\n<p>ARM&#8217;s share price is up around 11 percent in the year to<br \/>\ndate, outpasing a 7.3 percent rise in the Johannesburg bourse&#8217;s<br \/>\nbenchmark Top-40 index.\t<\/p>\n<p> (Reporting by Sherilee Lakmidas. editing by Ed Stoddard)<\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details, background, quote) JOHANNESBURG, FEB 27 &#8211; African Rainbow Minerals , a South African diversified mining group, said on Monday its earnings increased by 24 percent as sales volumes for all of its key commodities rose. Sales were 30 percent higher at 8.72 billion rand with volume increases in iron ore, manganese ore, manganese [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8388","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8388"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8388\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}