Patrice Motsepe’s ARM Suspends Bokoni Mine After Heavy Losses

Patrice Motsepe’s ARM Suspends Bokoni Mine After Heavy Losses

African Rainbow Minerals (ARM), the mining group controlled by South African billionaire Patrice Motsepe, has halted operations at its Bokoni platinum mine in Limpopo following steep losses and mounting costs.The company, which reported a sharp 47% decline in headline earnings to R2.7 billion ($154 million) for the year ended June 30, 2025, said the shutdown will allow it to redesign a viable mining plan. Basic earnings also tumbled, falling to …

Patrice Motsepe’s ARM halts operations at Bokoni mine

African Rainbow Minerals (ARM), the diversified mining company owned by Africa's first Black billionaire Patrice Motsepe, has suspended operations at its struggling Bokoni platinum mine after posting a sharp drop in annual earnings. The company said Friday the shutdown will allow it to work on a revised mining plan for the Limpopo-based mine, after mounting losses and rising costs. ARM booked a R2.2 billion ($125 million) impairment at Bokoni, c…