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ARI
ARIM
ARI - African Rainbow Minerals Limited - Trading statement in respect of
the 12 months ended 30 June 2010
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 12 months ended 30 June 2010
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE
Limited 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.
Notwithstanding achieving increased sales volumes across most
commodities and good cost control results, ARM`s provisional
headline earnings for the 12 months to 30 June 2010 (in comparison
to the corresponding 12 months to 30 June 2009) have been
negatively impacted by:
- lower average US Dollar commodity prices received especially for
iron ore and manganese; and
- a 16% strengthening of the Rand against the US Dollar.
The provisional basic earnings for ARM are, in addition, lower than that
of the previous year owing to the non-recurrence of the R557
million exceptional gain on the restructuring of TEAL Exploration &
Mining Incorporated ("TEAL") in the previous financial year.
Accordingly, ARM announces that it expects headline earnings per share
for the 12 months ended 30 June 2010 to decrease to between 785 and
825 cents per share (F2009: 1 094 cents per share). Basic earnings
per share for the 12 months ended 30 June 2010 are expected to
decrease to between 830 and 875 cents per share(F2009:1 355 cents
per share).
The financial information on which this trading statement is based has
not been reviewed or reported on by the external auditors of ARM.
The company`s full year results will be released on Monday 30 August
2010.
ENDS
For all investor relations queries please contact:
Jongisa Klaas
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Mobile: +27(0)82 562 5288
E-mail: jongisa.klaas@arm.co.za
Corne Dippenaar
Corporate Development
Office: +27 11 779 1300
Mobile: +27(0)83 380 6614
E-mail: corne.dippenaar@arm.co.za
Johannesburg
23 August 2010
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 23/08/2010 16:33:04 Produced by the JSE SENS Department.
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