African Rainbow Minerals half-year profit up 10% on firmer platinum prices

March 6 (Reuters) - African Rainbow Minerals (ARM) ARIJ.J reported on Friday an increase of 10% in half-year profit, as higher platinum group metal (PGM) prices helped offset lower income from its iron ore, manganese and coal divisions.

The South African diversified miner's headline earnings came in at 1.67 billion rand ($100.59 million) in the six months to December 31, from 1.52 billion rand previously.

Headline earnings at the company's Two Rivers and Modikwa platinum mines increased more than 200% each, driven by higher metal prices, which gained 44% and 47%, respectively.

The platinum division's performance helped the company overcome a 34% decline in earnings from its iron ore and manganese divisions, as well as a loss from coal operations.

ARM declared an interim dividend of 5 rand per share, an increase from 4.50 rand previously.

($1=16.6028 rand)