ARM, through its wholly owned subsidiary, African Rainbow Minerals Platinum, acquired Bokoni Platinum Mines in September 2022. Bokoni is a large, high-grade, long-life UG2-led asset with a brownfield foundation located on the north-eastern limb of the Bushveld Complex in Limpopo, South Africa.
African Rainbow Minerals’ (ARM) board has approved the massive R15,2 billion development of Bokoni Mine over 7 years to increase capacity to 180,000 tons per month (KTPM).
ARM's directors said Thursday their long-term platinum group metals (PGM) market outlook remains constructive, notwithstanding the anticipated impact of battery electric vehicles on the market.
ARM’s share price, however, did not appear constructive, with the price falling 6,63% to R159,73 on Thursday morning on the JSE. A year before, the price was R201,35.
This view is supported by anticipated resilience in PGM industrial demand and the enduring role of PGMs across automotive applications.
