By: Reuters

African Rainbow Minerals (ARM) (ARIJ.J), ​reported on Friday an increase ‌of 10% in half-year profit, as higher platinum group metal (PGM) prices helped offset ​lower income from its iron ​ore, manganese and coal divisions.

The South ⁠African diversified miner's headline earnings ​came in at 1.67 billion rand ($100.59 ​million) in the six months to December 31, from 1.52 billion rand previously.

Headline earnings ​at the company's Two Rivers ​and Modikwa platinum mines increased more than ‌200% ⁠each, driven by higher metal prices, which gained 44% and 47%, respectively.

The platinum division's performance helped the ​company overcome ​a ⁠34% decline in earnings from its iron ore and ​manganese divisions, as well as ​a ⁠loss from coal operations.

ARM declared an interim dividend of 5 rand ⁠per ​share, an increase from ​4.50 rand previously.
($1=16.6028 rand)