African Rainbow Minerals Limited provided earnings guidance for the financial year ended June 30, 2018. For the year, headline earnings per share are expected to increase by between 41% and 54% to between 2,370 and 2,590 cents compared to 1,684 cents reported for the financial year ended 30 June 2017 (F2017). Basic earnings per share are expected to increase by between 221% and 239% to between 2,320 and 2,450 cents (F2017: 723 cents). Fiscal year 2017 basic earnings included attributable impairments of the Nkomati Mine and Modikwa Mine assets of ZAR 711 million and ZAR 734 million after tax and non-controlling interest, respectively. Both basic and headline earnings for fiscal year 2018 were positively affected by an increase in average realised US Dollar prices for most commodities (partially offset by a stronger Rand/US Dollar exchange rate) and a net group fair value gain of ZAR 977 million (or 513 cents per share) as a result of the ARM Coal debt restructuring. This fair value gain is included in headline earnings.