The mining company’s impressive growth was spurred on by an uptick in global commodity prices, a well managed cost containment programme and “excellent results” from the group’s Ferrous division as well as its Two Rivers platinum mine, ARM announced on Thursday.

Headline earnings for the six months ending 31 December 2016 rose to R1,6 billion from R507 million during the same period in 2015.

Headline earnings per share skyrocketed by 283% to R8,93 – up from R2,33 in the previous year.

“There was an improvement on headline earnings in both the ARM coal and the Nkomati Nickel Mine from losses incurred in the previous period. Headline loss for ARM Copper improved from R275 million to R178 million,” the company said.

READ MORE: Motsepe’s ARC bets big on black-owned stock brokering company

Meanwhile, Motsepe’s investment firm African Rainbow Capital (ARC) this week launched a real estate joint venture with the Buffet KLT consortium that is geared towards empowering black-owned property funds.

“ARC Real Estate offers an alternative offtake by which corporates can consider the sale of the [property] asset to a black-owned fund and not only benefit from the capital realization but also from the ownership and/or procurement recognition in terms of their broad-based black economic empowerment (BBBEE) scorecard,” Mark Fox was quoted saying a Moneyweb report.

Fox together with Kentt Ellis have been appointed to head the new venture.

Motsepe said that his company had chosen to partner with Buffet KLT – which is run by Jonathan Beare from Buffet and Bradley Kark from KLT because of its proven track record and partnership ethos.

“Jonathan Beare is one of the significant shareholders of Buffet KLT and together with its partners the consortium represents a substantial privately-held property and private equity investor in South Africa,” he said.

READ MORE: Motsepe’s ARC buys 20% stake in Val de Vie

ARC Real Estate has already closed its first deal with the acquisition of the Setso Property Fund at the end of 2015.

The fund boasts a portfolio of 13 retail and commercial assets located in Cape Town and Gauteng and it’s worth R1,2 billion.

“This partnership reflects what we think the best businesses in the world look like and we hope to demonstrate why we think we are better. Empowerment to me was always about bringing sectors of the population that could not participate in the mainstream economy to become partners in a world-class business,” Motsepe was quoted saying.

– Additional reporting by Moneyweb