A weakening rand over the period managed to shield the South African mining industry from the decline‚ with prices remaining relatively flat. However‚ the reports says, flat prices will not support the industry's significantly increased cost base. The 2012 financial year saw the country's top 39 mining companies shed all the gains made since the 2008 financial crisis.
Of the top 10 companies‚ six posted declines with Anglo Platinum‚ Kumba Iron Ore and Exxaro Resources collectively losing R40 billion in market value, Independent Online says.
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Posted on 22 Nov 2012 17:08