ARM’s quality diversified portfolio enabled the company to remain resilient in a volatile and challenging F2023, delivering strong full-year earnings and maintaining a robust financial position.
Key features of F2023 illustrate the effectiveness of our strategy and actions in managing short-term impacts while preserving longer-term value.
Headline earnings decreased by 21% to R9.0 billion (F2022: R11.3 billion)
Total dividend decreased to R26 per share (F2022: R32 per share)
Robust net cash of R9.8 billion
One fatality at Two Rivers Mine
Lost-time injury frequency (LTIFR) rate improved to 0.27 per 200 000 man-hours (F2022: 0.31)
Total recordable injury frequency (TRIFR) rate improved to 0.62 (F2022: 0.69)
Black Rock Mine achieved 11 million fatality-free shifts over 14 years
Khumani Mine achieved 5 million fatality-free shifts over eight years
Iron ore, manganese ore and thermal coal volumes continued to be impacted by logistical challenges
Unit production costs remained under pressure, mainly due to logistics challenges, lower production volumes and above-inflation increases in the costs of diesel, explosives, electricity and consumables
Scope 1 and 2 emissions were reduced by 4% to 1.80Mt CO2e (F2022: 1.88Mt CO2e) through emission-reduction initiatives emissions (100% basis)
Progress was made on developing decarbonisation pathways
Operational water withdrawn increased by 9% to 18.29 million m3 (F2022:16.80 million m3)
ARM, as a member of the International Council of Mining and Metals (ICMM), published its progress towards conformance with the Global Industry Standard on Tailing Management (GISTM) on 5 August 2023
In April 2023, signed purchase agreements to build a 100MW solar plant to power ARM’s platinum operations
R124 million (F2022: R151 million) invested in corporate social responsibility
ARM Mining Consortium declared a R102 million (F2022: R255 million) dividend to communities with an effective 8.5% shareholding in Modikwa Mine
R371 million (F2022: R198 million) invested in skills development and training
Continuing positive relationships with communities neighbouring our mines
Diversified portfolio of commodities
Quality, long-life assets and orebodies
Robust financial position to create and sustain value
Continuing positive relationships with communities neighbouring our mines
Pipeline of quality growth projects
Focused on capital allocation to deliver competitive shareholder returns and ensure sustainability of the business
Integrated environmental, social and governance (ESG) strategy
High standards of governance and transparent reporting of operational, financial and sustainability performance
ARM is a constituent of the FTSE4Good Index Series
