African Rainbow Minerals shares slide after $1 billion mine investments

Shares in African Rainbow Minerals (ARM), the diversified mining group founded and chaired by billionaire Patrice Motsepe , fell to their lowest level in more than a year after the board approved nearly $1 billion in new investments across two South African mines. Investment Plans African Rainbow Minerals announced on Thursday that it will: Spend R15.2 billion over seven years to expand the Bokoni platinum-group metals (PGM) mine . Allocate R753 million to restart operations at the Nkomati nicke