African Rainbow Minerals (ARM) has announced an increase in its headline earnings per share for the six months to December.

South Africa's largest black-owned mining company stated that the increase during the second half of 2005 was largely down to the spiralling price of platinum over the period.

A statement from the company explained: "The significant increase in platinum group metal (pgm) prices during the reporting period has impacted positively on the ARM operating results."

ARM added that its headline earnings per share would see considerable growth, rising from nine cents per share to between 60 and 68 cents per share.

In June last year, ARM agreed a deal with Implats to work together on the Two Rivers Platinum on the Eastern Limb of the Bushveld Complex in a joint venture designed to boost ARM's position in the production of platinum in South Africa.


Ÿ Adfero Ltd