About
ARM

F2021 in review

The ARM operations have navigated the challenges in F2021 well, responding in an agile and responsible manner. Higher commodity prices underpinned financial performance in F2021.

As the world adjusts to living with the Covid-19 pandemic, the key features of our review period illustrate the effectiveness of navigating short-term impacts while maintaining governance standards and preserving longer-term value.


  • Financial
  • Headline earnings up 136% to R13.1 billion
  • Total dividend of R30 per share
  • Robust net cash of R8.2 billion, positioning ARM well to optimise existing assets and capitalise on opportunities
  • Health and safety
  • Health protocols to prevent the spread of Covid-19 in place across our operations and corporate offices
  • ARM is supporting the national Covid-19 vaccine roll-out and has established vaccine sites at five of its operations
  • Regrettably 34 of our colleagues succumbed to Covid-19
  • Two fatalities at Modikwa Mine in the first half of F2021
  • Black Rock Mine completed 12 consecutive years fatality-free
  • Beeshoek Mine completed 13 consecutive years fatality-free
  • Cato Ridge Works completed a full year without a lost-time injury
  • Khumani Mine recorded its lowest LTIFR of 0.04 per 200 000 man-hours and completed 6.5 consecutive years fatality-free
  • Two Rivers Mine recorded 1 million fatality-free shifts
  • Group LTIFR rate decreased to 0.41 per 200 000 man-hours (F2020: 0.45)
  • Operational
  • Sales and production volumes recovered well from Covid-19 lockdown restrictions
  • Unit production costs were under pressure, increasing above inflation mainly due to operational challenges, exacerbated by Covid-19-related challenges
  • Environmental
  • ARM aims to achieve zero greenhouse gas mining by the year 2050
  • Reduced scope 1 and 2 emissions by 1.83% relative to F2018 through emission-reduction initiatives
  • Water withdrawn down 1% to 20.0 million m3
  • Water reuse efficiency improved to 78% from 72% last year
  • Global industry standards on tailings management being implemented
  • Social
  • R170 million invested in community social responsibility
  • Stable relationships with communities neighbouring our mines
  • R240 million invested in skills development and training
  • Risks
  • Suboptimal performance from Transnet
  • Compromised water supply in the Northern Cape
  • Covid-19-related impact on the operations and projects
  • Delayed project execution
  • Heightened social unrest
  • Opportunities
  • Robust financial position which allows ARM to pursue value-enhancing growth
  • Strong growth in near-term project pipeline
  • Strengthening relationships by supporting host communities in their response to Covid-19