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Patrice Motsepe, the founder of African Rainbow Minerals (ARM) and Africa’s first Black billionaire, experienced a significant drop of $200 million in net worth in the first week of August, reversing the gains he had made in July. Forbes, the renowned business magazine, reported that Motsepe’s net worth declined from $2.6 billion on August 1 to $2.4 billion on August 6.
The recent decrease in Motsepe’s wealth followed an impressive $200 million increase between July 12 and 26, during which his net worth reached a record high of $2.6 billion. However, the market value of his 39.7% stake in ARM, a groundbreaking Black-owned mining company with extensive assets in various metals, experienced a downturn, leading to a decline in his net worth.
ARM, based in Johannesburg, has faced challenges as its share price dropped by 5.6%, resulting in a loss of more than $1.1 billion in market value since the beginning of the year. The decline in market capitalization reflects the challenging market conditions for ARM and other mining companies on the Johannesburg Stock Exchange.
Motsepe’s current net worth stands at $2.4 billion, highlighting the volatility of the global market, particularly in the mining sector. Analysts are closely observing market developments and their potential impact on the fortunes of influential individuals like Motsepe.
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Pindula News

Motsepe's Net Worth Drop By $200 Million

Patrice Motsepe’s African Rainbow Minerals (ARM) has exceeded the R5.1 billion ($280 million) mark in earnings for the first half of its 2023 fiscal year.
ARM holds strategic positions in iron, coal, copper, gold, platinum, and other precious metal mining projects.
It was founded by Motsepe in 1997 as South Africa’s first Black-owned mining company.
According to its half-year financial statements, its headline earnings increased from R3.69 billion ($203.1 million) in the first half of its fiscal year in 2022 to R5.17 billion ($284 million) at the end of the first six months of its fiscal year in 2023.
The rise in revenue, from R7.7 billion ($423.8 million) to R9.37 billion ($515.7 million), can be attributable to increased coal prices.
The top miner, in whom Motsepe owns a 40% stake, said that its coal sector had a strong boost in headline earnings of 30%, <a href="https://billionaires.africa/2023/03/06/south-african-billionaire-patrice-motsepes-arm-surpasses-expectations-with-280-million-h1-2023-profit/">Billionaires Africa</a> reported.
Higher thermal coal prices, which lessened the effect of subpar rail performance on export quantities, caused the increase.
While this was happening, ARM’s iron ore division saw a 12% reduction in headline earnings as a result of weaker pricing and a 15% decline in export sales, which the company blamed on problems with rail logistics.
The group has declared a gross dividend of R14 ($0.77) per share for the six months ending December 31, 2022. The dividend will be payable on Monday, April 3, 2023, to shareholders recorded in the company’s books at the close of business on Friday, March 31, 2023.
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Motsepe's ARM Exceeds R5.1 Billion Mark In 1st Half Of 2023

A Tanzanian company is demanding $195 million in damages from African Rainbow Minerals (ARM) founded in 1997 by South African billionaire Patrice Motsepe.
 Tanzania’s Pula Graphite Partners and its parent company, Pula Group allege that ARM breached non-disclosure and non-compete agreements.
ARM, a mining and minerals company with strategic positions in iron, coal, copper, gold, platinum, and other precious metal mining projects was founded as South Africa’s first black-owned mining company.
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The suit, which is being heard at the Commercial Division of the High Court of Tanzania, is scheduled for a pre-trial hearing on January 10, 2023, according to <a href="https://billionaires.africa/billionaire-patrice-motsepes-arm-faces-195-million-lawsuit-from-tanzanias-pula/">Billionaires Africa</a>. 
The case relates to a July 2019 agreement in which the two firms agreed to share confidential information and not enter into agreements with potential competitors for a period of two years.
Pula claims that during this time, ARM invested in an Australian company called Evolution that also explores graphite in Ruangwa, Lindi Region in Tanzania, where Pula’s own graphite project is located.
Pula Group President Mary Mildred Stith says that they have sufficient evidence to prove their case against ARM.
Motsepe currently owns a 39.7per cent stake in ARM, which is worth more than $1.1 billion and accounts for the majority of his wealth.
In October 2020, <a href="https://zero.pindula.co.zw/motsepe-now-richest-black-person-in-southern-africa-as-masiyiwa-loses-over-half-a-billion-usds/">Motsepe received $103 million</a> in final dividends from his stake in ARM, less than four months after earning $69.6 million in interim payments.
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Tanzanian Company Demand $195 million In Damages From Patrice Motsepe's ARM

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