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Johannesburg - Mining group African Rainbow Minerals (ARM) [JSE:ARI] said it could cut jobs and investments after weak metal prices led to a 56% decline in first-half earnings, weakening its shares.
The diversified mining firm said on Monday it could cut jobs at its Black Rock Manganese Mine as part of its plan to save cash to cope with weaker iron ore and platinum prices.
"This will include redeployment of employees and possible reduction of the workforce," ARM's chief executive Mike Schmidt told analysts and investors at a results briefing.
