Afrimat FY22 revenue up 5%

Afrimat CEO, Andries van Heerden, recently joined CNBC Africa’s Godfrey Mutizwa to discuss the company's latest financial results and the challenges and opportunities facing the mining industry in the current environment. Van Heerden highlighted the challenges of operating a business in South Africa amidst power supply issues and volatile commodity prices. He emphasized the impact of recent developments at Eskom, with power cuts affecting business operations and leading to increased costs due to the use of diesel generators. Despite these challenges, Afrimat reported a 5% increase in revenue for the financial year 2022, driven by strong performance in the bulk commodities business. Van Heerden also touched on the company's strategic investments in projects such as the expansion of the Kermatti anthracite mine and the positive outlook for the future. He expressed optimism about the growing demand for construction materials and the improving performance of the iron ore mines, signaling a positive trend for Afrimat's overall business prospects. Van Heerden's comments shed light on the resilience of Afrimat in navigating the complex operating environment and capitalizing on opportunities for growth amidst industry challenges.