African Rainbow Minerals has corrected parts of its segment reporting in its audited annual accounts, including a R2.044 billion reallocation of operating cash flow, while saying its other previously reported financial information is unchanged.
The JSE-listed mining group disclosed the adjustments on Monday, 26 October, as it released its annual reporting suite for the year ended 30 June 2026. The changes are measured against the condensed reviewed results issued on 4 September.
ARM said amounts in the corporate and IFRS-adjustment columns had inadvertently been grossed up. The correction changes the corporate segment’s operating cash figure from a R1.847 billion inflow to a R197 million outflow, with an equal opposite adjustment in the IFRS column.
The audited segment table reconciles to consolidated operating cash inflow of R6.181 billion. The reallocation is not a newly announced R2.044 billion loss of cash at group level.
What changed in the segment note
The company also moved R194 million of goodwill associated with Nkomati from the corporate segment to ARM Platinum. It adjusted the line covering raw materials, consumables and inventory movements to align the segment disclosure with the cost-of-sales note.
ARM’s annual accounts separate the business into platinum, ferrous metals, coal and corporate divisions. The platinum division includes Nkomati, Two Rivers, Modikwa and Bokoni; the corporate division includes Machadodorp Works, corporate activities and gold investments.
That breakdown lets readers distinguish the performance and assets of the divisions from the consolidated group. The financial statements explain that the IFRS-adjustment column includes joint-arrangement accounting for ARM Ferrous and other consolidation adjustments.
The published accounts carry an unmodified audit opinion from KPMG. ARM said the revisions are confined to the segment information and its related subtotals and totals, rather than changes to the rest of the figures previously released.
The group has scheduled its annual general meeting for 4 December at 1pm SAST, with physical and electronic participation. Shareholders must be recorded in the register on 27 November to vote, with 24 November the last trading day for that purpose.
