South African mining group ARM says H1 earnings hit by weak prices

South African mining group African Rainbow Minerals Ltd (ARM) said on Monday its first-half headline earnings fell by more than 50 percent due to lower prices for its commodities such as iron ore and platinum. The diversified company said in a statement that headline earnings per share fell 56 percent to 473 cents a share from 1,084 cents in the previous year. Mining companies sell their commodities in dollars while paying most costs in rand. Headline earnings, the main measure of profit in Sout