African Rainbow Minerals not convinced nickel price sustainable.
earlier this year, Schmidt had said ARM could consider resuming operations at Nkomati, a 16,000 tonne per year mine nearing the end of its life.
“The nickel price today is elevated, but if you look at the long-term outlook or consensus, it’s not there yet,” Schmidt said, adding ARM and Nornickel would continue to assess the situation before deciding whether to close or restart the mine. The company’s headline earnings per share – the most common profit measure in South Africa – fell to 57.87 rand for the year ended June 30, from 66.88 rand last year.
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