Afrimat faces perfect storm: earnings plummet in latest trading update

By Edward West | Published Oct 10, 2024

Afrimat, the open pit mining company, forecasts a sharp 75%-85% drop in headline earnings per share for the six months ending August 2023. Lower iron ore prices, increased shipping costs, and local rail issues contribute to this significant decline. Despite challenges, the company sees some positive indicators in its construction materials and industrial minerals segments