(Reuters) -South Africa’s African Rainbow Minerals (ARM) said on Friday its full-year profit fell 47%, mainly due to lower iron ore and coal prices.
ARM posted headline earnings of 2.695 billion rand ($153.45 million) in the year ended June 30, compared to 5.08 billion rand last year.
The diversified miner said lower thermal coal and iron ore prices as well as a stronger rand against the U.S. dollar had offset the impact of marginal increases in manganese ore and alloy prices.
ARM declared a final dividend of 6 rand per share, lower than the 9 rand per share payout last year.
($1 = 17.5632 rand)
(Reporting by Nelson Banya; Editing by Jacqueline Wong and Jamie Freed)
