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Omnia's explosives and chemicals business keeps growing

29 Nov 2012

According to The New Age, work stoppages that have plagued South Africa's gold and platinum miners had no affect on demand for mining explosives and ancillary paraphernalia produced by explosives and chemicals manufacturer Omnia.

The company's MD Rod Humphris said that explosives growth was due to a volume increase of 27% and the rest by higher prices and prices that benefited from the rand's relative weakness against the dollar.

While local sales of industrial chemicals were restrained by the softness of SA's manufacturing sector, Omnia's sales grew particularly well beyond South Africa's borders, with demand particularly strong in West Africa. The company's R6.02bn revenue notched up in the six months to end-September was 22% higher than the corresponding period of 2011. All signs indicate a major improvement over the past financial year's R10.95bn total.

At his presentation of the group's interim results Wednesday, Humphris said global demand for minerals was strong even as prices generally softened and that meant more demand for explosives and the paraphernalia that goes with them, The New Age reports.

Read the full article on www.thenewage.co.za.