Summit TV takes a look at results out from anthracite mining and exploration company Petmin, where heavy rain at its Somkhele Mine and an unprotected strike affected production IAN Cockerill is chairman of PetminSUMMIT TV: Petmin had costly weather problems in the first half of their financial year — the anthracite mining and resource exploration company posted a 16% drop in like-for-like profit after tax but signs are the second half should be better. Ian, surely one knows and is prepared for rain that is going to affect the eastern parts of the country in the months under review. Why did this have such a big impact?IAN COCKERILL: Absolutely, this is the time of year when we see most of the rain. If you look back on the history of the Somkhele Mine, we’ve averaged between 10 and 12 days a year lost due to rain but in this half-year in total we lost 27 days so it’s been an abnormally wet period we’ve been through. The net result is when we get more than 5mm of rain you can’t put tru...
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