Sep 06, 2021 / 12:00PM GMT
Operator
(technical difficulty)
particularly, well, on both, whether that's the coal or the iron and manganese lines. And we're putting a lot of effort to address it, but it's not going that well at this stage. In line with our capital allocation, so we've obviously declared the (inaudible) dividend, which is -- was 150% higher than last year. So about -- it is a payout of 112% of the dividends that we did receive from our underlying operation with (inaudible) 12% dividend yield. So the headline earnings were undoubtedly underpinned by extremely high commodity prices, particularly iron and PGMs.
The costs were impacted, obviously, due to a lot of inflation issues. But we did have low volumes, primarily due to logistical constraints. And then, obviously, all of this was and continues to a lesser degree, be exacerbated by COVID challenges. The iron and PGM prices have come down from the highs that we did experience in '21 (sic) ['20.] But all of our operations still have reasonable margins and the fundamentals and outlook for the metals we mine remain pretty bullish.
We continue to assess
Full Year 2021 African Rainbow Minerals Ltd Earnings Call Transcript
Feb 12, 2024
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