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flag African Rainbow Minerals halts Bokoni platinum mine operations amid significant earnings drop.

flag African Rainbow Minerals (ARM) has halted operations at its unprofitable Bokoni platinum mine in South Africa to revise its mining plan. flag The company’s annual earnings dropped significantly, with basic earnings falling to 330 million rand, down from 3.1 billion rand the previous year. flag ARM attributes the decline to lower coal and iron ore prices and a stronger rand. flag The company has also written down the Bokoni mine by 2.2 billion rand, citing delays and changes in mining methods. flag A feasibility study for a smaller-scale operation is in progress.

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