South African diversified miner African Rainbow Minerals has reported a 19% increase in annual headline earnings to $200.3 million for the year ended June 30, as stronger platinum group metal prices offset weaker results from its coal, iron ore, and manganese businesses. The company’s platinum group metal operations returned to profit as metal prices jumped more than 50%. Conversely, its ferrous metals unit saw earnings drop sharply due to lower manganese prices, a stronger rand, and the mothballing of the Beeshoek iron ore mine, which suffered a 75% collapse in sales volumes. The coal division also posted a loss after facing weaker prices. ARM is investing roughly $951 million to expand its Bokoni platinum operations, which are expected to reach peak output in 2032. It is also restarting nickel production at its idled Nkomati mine.