African Rainbow Minerals (ARM) has announced strong results for the year ended June 30th thanks in part to record platinum group metal (pgm) sales.

Headline earnings at the company increased by 161 per cent compared to the previous year, reaching a record R1.2 billion, the firm revealed.

In a statement posted to the JSE, company Chairperson Patrice Motsepe said: "ARM has achieved exceptional results, is paying its first dividend and is delivering on its growth strategy."

He added that the continued growth was in line with the firm's aim to double 2005 production levels by the end of the decade, Mining Weekly reports.

The positive results have been boosted by the impact of the increased investment in ARM's Two Rivers Platinum Mine, the company added.

Sources:

Arm lifts headline earnings 161% on increased output, higher prices, 3/09/07
http://www.miningweekly.co.za/article.php?a_id=116018

Trading Update, 27/08/07
http://www.arm.co.za/content/webdata/press_releases/2007/Aug2007/TRADINGUPDATE27082007.pdf

Ÿ Adfero Ltd