ARM sales growth reduces impact of drop in iron ore prices

Announcing its interim results here, the company said the reduction in its earnings had resulted mainly from the 46% decline in the contribution by the ARM Ferrous division. This was largely due to iron ore prices received being 28% lower in dollar terms, partly offset by an 11% weakening of the Rand/US Dollar exchange rate. Manganese earnings reduced by 51% due to lower production volumes and higher costs.

Read the full article on www.miningreview.com.