THE G SPOT
Afrimat: Deals in the DNA
Afrimat’s serial acquisitions away from its original quarries business have paid off hugely for investors. Will its shot at Lafarge do the same?
Construction materials and mining group Afrimat is an entirely different beast to what it was when South Africa hosted the Soccer World Cup: a diversified miner with exposure to iron ore, anthracite, phosphates, rare earths and now cement. While its shares have ground out a flat performance this year, interim headline earnings per share of 263.4c are an exponential increase on the 29.9c a share the company earned in the 2010 interim period. The FM spoke to CEO Andries van Heerden.
It’s been much tougher for iron ore markets of late, yet your iron ore operations saw an increase in volume of 29.7% — unlike, say, Kumba Iron Ore. How’d you buck the trend?..
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