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ARI
ARIM
ARI - African Rainbow Minerals - Trading update in respect of the twelve month
period ended 30 June 2007
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or the "Company")
Trading update in respect of the twelve month period ended 30 June 2007
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited
("the JSE") a listed company is required to publish a trading statement as soon
as it is satisfied that a reasonable degree of certainty exists that the
financial results for the period to be reported on next will differ by at least
20% from those of the previous corresponding period.
The ARM results for the 12 months to June 2007 have been positively impacted by
volume increases relating to platinum group metals (PGMs), manganese and iron
ore as well as chrome ore sales from Nkomati Mine. The results have also been
impacted by strong increases in PGM, nickel and ferrous metal prices, the
depreciation of the Rand / US Dollar exchange rate and the contribution of Two
Rivers Platinum Mine to earnings.
These positive impacts have been offset by lower nickel production as lower
grades resulted from the main sulphide ore body being mined out at Nkomati Mine,
increased investment into ARM exploration and increased finance costs due to the
additional investments into ARM Coal and Two Rivers Platinum Mine.
In light of the above, ARM announces that it expects headline and basic earnings
per share to increase for the 12 months ended 30 June 2007 to between 550 and
600 cents per share (headline and basic earnings for June 2006 were respectively
225 and 293 cents per share).
This trading statement has not been reviewed or reported on by the external
auditors of ARM.
The Company`s full year results will be released on Monday 3 September 2007.
For all investor relations queries, please contact:
Pieter Rorich
Executive Director: Investor Relations and New Business Development
Office: +27 11 779 1300
Mobile: +27(0)82 570 5064
E-mail: pieter.rorich@arm.co.za
Monique Swartz
Corporate Development
Office: +27 11 779 1507
Mobile: +27(0)83 411 2881
E-mail: monique.swartz@arm.co.za
Johannesburg
27 August 2007
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 27/08/2007 15:29:08 Produced by the JSE SENS Department.
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