Rising costs spoil mining outlook after bumper year
Lower production volumes and other challenges also start weighing on the sector
04 October 2022 - 19:28
Mining companies performed well during the past year, posting strong results that led to returns to shareholders at many companies reaching record rand levels. But there are signs that the good times will be short-lived as higher input costs, lower production volumes and other challenges start weighing on the sector.
Over the past year SA mining companies’ distributions to shareholders (including dividends and share buybacks) more than doubled to R190bn, capital expenditure grew 36% and taxes paid increased 14%, according to PwC’s SA Mine 2022 report that was released on Tuesday...
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