Increased production of platinum has helped African Rainbow Minerals report a jump in profits during the second half of 2006.

Headline earnings increased at the firm by 318 per cent, to R548 million and the company stated: "The significant earnings increase can be attributed to a much higher contribution from the platinum operations."

This growth included a jump in production at the group's Modikwa mine, as well as the inclusion of results from its new Two Rivers Platinum Mine.

However, the firm also revealed that the recent strike at the Modikwa mine, which came to an end on Monday after three weeks, has cost the firm a significant amount in production losses.

According to African Rainbow Minerals, production losses caused by the strike are currently estimated at 180,000 tonnes, with predictions of around 10,500 ounces of platinum lost.

Ÿ Adfero Ltd