African Rainbow Minerals (ARM)
African Rainbow Minerals Limited (ARM) is a diversified, South African-based mining company, listed on the Johannesburg Stock Exchange (JSE). ARM has a market capitalization of approximately $3 billion and provides an investment opportunity in a unique combination of platinum, coal, nickel, copper and ferrous mining. ARM's strategy focuses on ensuring that it has a high-quality growth portfolio, with low-cost operations. Furthermore, the company is positioned as an owner operator, encourages an entrepreneurial culture and has an experienced management team. The company has three main operating divisions, namely ARM Ferrous, ARM Coal and ARM Platinum. Each division has a growth project and each operation has a different world-class mining partner associated with it. ARM also has an exploration division, which is focused on copper exploration in Africa. Given the challenges posed by the global recession, ARM has implemented many initiatives across divisions to ensure the company conserves cash, delays capital expenditure and optimizes operations. ARM is in a good position to weather the storm given the strength of the balance sheet.