DIVERSIFIED mining company African Rainbow Minerals (ARM) has reiterated its commitment to transitioning from coal to renewable energy, with its executive chairperson Patrice Motsepe describing the global commitment to the green economy as being not only important but crucial.
Motsepe was speaking against the background of coal contributing an increased R351-million to ARM headline earnings of R3.7-billion in the six months ended December 31, well up on the R222-million headline loss in the corresponding period of 2021 and representing 8% of earnings before interest, taxation, depreciation and amortisation (Ebitda). Significant combined contributions from platinum-group metals (PGMs) and iron-ore made up 88% of ARM’s Ebitda in the half-year.
“Coal has done reasonably well, but we are also committed to the transition from coal to renewables,” Motsepe said during ARM’s presentation of half-year financial results covered by Mining Weekly.
“What we’ve said globally, and I have been part of discussions at the highest levels in the world, is that the commitment to the green economy is
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
