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ARM takes medicine after tough two years at Bokoni Platinum
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ARM takes medicine after tough two years at Bokoni Platinum
AFRICAN Rainbow Mineral’s (ARM’s) attempt to breathe fresh life into Bokoni Platinum, a mine in South Africa’s Limpopo province, cost it dear in the 12 months ended June. Reporting its full year results on Friday, ARM said it had written down Bokoni for R2.2bn. The write-down took the group’s platinum group metal (PGM) division into an overall R1.3bn loss which follows R1.74bn in group impairments last year – mainly in its PGM assets. Commenting…
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