African Rainbow Minerals' iron ore division booked a 41% drop in headline earnings for the year to June 2026, hit by weak prices and the cost of shutting Beeshoek, even as group profit recovered to nearly R4bn.
African Rainbow Minerals will spend R15.2bn over seven years redeveloping Bokoni in Limpopo, which it placed on care and maintenance in 2025, and will restart the Nkomati nickel mine for R753m.
African Rainbow Minerals has joined a consortium of manganese producers bidding to build and run a new 16Mtpa export terminal at Ngqura, replacing the ageing Port Elizabeth facility.
