JOHANNESBURG (miningweekly.com) – Let’s make South Africa the best possible place. The future looks very, very bright, African Rainbow Minerals (ARM) founder Dr Patrice Motsepe said on Friday at the close of ARM reporting a good set of half-year financial results.
Motsepe, who has ceased being executive chairperson of the Johannesburg Stock Exchange-listed diversified mining company but will continue in a non-executive capacity, pledged that ARM would continue to play its role in building a future for black, white, coloured and Indian South Africans.
Following ARM reporting 10%-higher half-year headline earnings of R1.6-billion plus an interim dividend of R5 a share, Motsepe committed ARM to continue its practice of making donations to all political parties.
It would maintain the historic relationships across the board, “because we’re all South Africans and I think good political parties always listen to the voters of other political parties, and there’s always something to them”.
Building a future for all South Africans – “black South Africans, white South Africans, coloured South Africans, Indian South Africans” – would be ongoing, he promised as the presentation, covered by Mining Weekly, drew to a close.
“We must continue to be positive and optimistic. This country has got such incredible, incredible people, and I’ve never been more confident, and I’ll tell you partly why.
“It’s because we grew up in societies where your existence, your credibility, was amongst the poor, was amongst the marginalised, the unemployed.
“We’ve educated more than 5 000 students through the Family Foundation and many other things over many years, because we always understood, stay with the people on the ground. The joy we derive is in these relationships with vulnerable people,” he told the audience, which included his wife Dr Precious Moloi-Motsepe and their sons.
“This company has to remain a world-class company, and we have to make sure of that for all shareholders, whether in South Africa or worldwide.
“They don’t have to buy the shares of African Rainbow Minerals. They can buy the shares of other companies. We have to give them a reason that they should have confidence in ARM and keep buying ARM shares because we give them competitive and, in some respects, superior returns.
“Over the years, we’ve employed the smartest and the brightest, black, white, coloured and Indian South Africans, and will continue to do so.
“As a company, we have a huge obligation to all stakeholders, the communities where we live and the country as a whole,” Motsepe added.
ARM ended the half-year with net cash of R8 464-million compared with R6 609-million in the same period last year.
Basic earnings increased by 69% to R2 353-million, or R12.20 a share, and revenue was up 32% to R8 399-million.
Two Rivers platinum mine achieved three-million fatality-free shifts and the ARM Ferrous division reached more than one-million fatality-free shifts.
