ARI - African Rainbow Minerals - Trading statement in respect of the
ARI
ARIM
ARI - African Rainbow Minerals - Trading statement in respect of the
six month period ended 31 December 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 statement in respect of the six month period ended 31 December 2007
The ARM results for the six months ended 31 December 2007 have been positively
impacted by sales volume increases relating to manganese ore and ferromanganese
alloy, iron ore and chrome ore. The results have also been impacted by strong
increases in US dollar platinum group metals ("PGM"), thermal coal and ferrous
metal prices.
These positive impacts have been offset by planned lower nickel production from
the Nkomati Mine as it moves from an underground to opencast operation. Results
have also been impacted by lower nickel prices, lower than planned production at
the platinum mines and increased exploration expenditure in Africa through TEAL.
In light of the above, ARM announces that it expects headline earnings per share
to increase for the six months ended 31 December 2007 to between 330 and 370
cents per share (headline earnings for the comparable period in 2006 were 264
cents per share).
Basic earnings have been further impacted by the R135 million gain on the
receipt of the final tranche payment on the sale of 50% of Nkomati Nickel to
Norilsk Nickel. Basic earnings are expected to increase to between 400 and 430
cents per share (previously 264 cents per share).
This trading statement has not been reviewed or reported on by the external
auditors of ARM.
The Company`s interim results will be released on Wednesday 20 February 2008.
For all investor relations queries please contact:
Monique Swartz
Manager: Investor Relations and New Business Development
Office +27 11 779 1507
Mobile: +27(0) 83 411 2881
E-mail: monique.swartz@arm.co.za
Sandton
12 February 2008
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 12/02/2008 15:01:01 Produced by the JSE SENS Department.
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