Lower commodity prices almost wipe out profits for African Rainbow Minerals
Even after lower commodity prices wiped out the profits of African Rainbow Minerals in its half-year to end-December, the Patrice Motsepe-backed investment holding company expects the depressed global investor sentiment and lower commodity to persist through this year. This has prompted it to move to preserve cash, even as it is more confident about its longer-term prospects.South Africans need to be in the know if we want to create a prosperous future.
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