Sept 1 (Reuters) - South Africa's African Rainbow Minerals posted a 13% drop in its full-year profit on Thursday, pulled down by lower iron ore and platinum group metal prices amid higher mining costs.

The company's headline earnings per share (HEPS) - the most common profit measure in South Africa - were 57.87 rand ($3.37)for the year ended June 30, compared with 66.88 rand last year.

($1 = 17.1703 rand) (Reporting by Nelson Banya; Editing by Sherry Jacob-Phillips)