ARM pleased with the acquisition of the Bokoni Platinum Mine

African Rainbow Minerals reports that its ARM Platinum headline earnings decreased by 34% to R3 066 million (F2021: R4 666 million), largely due to a negative mark-to-market adjustment as a portion of the ARM Platinum receivables as at 30 June 2021 was subsequently realised at lower prices following the decline in rhodium and palladium prices.

African Rainbow Minerals reports that its acquisition of Bokoni Platinum Mine was completed on 12 August 2022. The purchase consideration of R3 500 million was fully settled in September 2022.

The company said it was pleased to have concluded the acquisition of the Bokoni Platinum Mine from Anglo American Platinum and Atlatsa Resources Corporation.