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Medupi power station project, South Africa

By: Sheila Barradas     1st December 2017 Eskom has linked unit four of its Medupi coal power station to the grid. 

Afrimat starts trading on A2X, maintains primary listing on JSE

By: Megan van Wyngaardt     9th November 2017 South Africa’s newest stock exchange A2X Markets on Thursday gained its latest member, construction materials company Afrimat. The company joins African Rainbow Capital Investments, Peregrine Holdings and Coronation Fund Managers on the A2X roster, and will retain its primary listing on the main... 

Afrimat continues ramp-up of new iron-ore asset Diro

By: Natasha Odendaal     2nd November 2017 Industrial minerals, commodities and construction materials group Afrimat has successfully recommissioned its recently acquired iron-ore play, with full production on track for March. The acquisition of the distressed small iron-ore mine, Diro, in the Northern Cape, had marked a new phase of... 

Afrimat Construction Index declined marginally in Q2

By: Irma Venter     6th October 2017 The Afrimat Construction Index (ACI) declined marginally in the second quarter of 2017. The ACI is released by JSE-listed industrial minerals and construction materials miner and supplier Afrimat. It is a composite index of the level of activity within the building and construction sectors,... 

Afrimat Construction Index dips in Q2 2017, set to improve in Q3

By: Irma Venter     21st September 2017 The Afrimat Construction Index (ACI) declined marginally in the second quarter of 2017. The ACI is released by JSE-listed industrial minerals and construction materials miner and supplier Afrimat. It is a composite index of the level of activity within the building and construction sectors,... 

Afrimat Construction Index continues to outperform general economy

By: Mia Breytenbach     7th July 2017 Despite negative perceptions, South Africa’s economy remains resilient, while the construction industry remains healthy and continues to perform well, says JSE-listed openpit mining company and industrial mineral and construction material supplier Afrimat CEO Andries van Heerden. This is evident... 

Afrimat Construction Index continues to outperform general economy

By: Mia Breytenbach     22nd June 2017 Despite negative perceptions, South Africa’s economy remains resilient, while the construction industry remains healthy and continues to perform well, says Afrimat CEO Andries van Heerden. This is evident in the Afrimat Construction Index (ACI) having expanded by 22.7% between the third quarter... 

Afrimat posts strong FY17 results

By: Megan van Wyngaardt     18th May 2017 Local industrial minerals and construction materials company Afrimat on Thursday reported a 25.4% increase in headline earnings a share to 196.4c for the year ended February 28, resulting from a strong performance by its mineral producing operations. The group also achieved an increase in its... 

Afrimat to start production at Diro iron-ore mine by mid-year

By: Megan van Wyngaardt     18th May 2017 Construction company Afrimat expects to start production at its Diro iron-ore operations, in the Northern Cape, by mid-year. Afrimat CEO Andries van Heerden said during a media briefing on Thursday that the company was now in the process of refurbishing the business. “We have started... 

Afrimat expects higher FY earnings

     25th April 2017 Construction materials producer Afrimat expects its earnings a share to rise by 22% to 27% to between 190.6c and 198.4c for the financial year ended February 28. Headline earnings a share are also expected to rise by 22% to 27% to between 191.1c and 198.9c. 

Afrimat referred to Tribunal for prosecution

By: Megan van Wyngaardt     3rd April 2017 The Competition Commission on Monday referred Afrimat, through its wholly owned subsidiary Clinker Supplies, to the Competition Tribunal for prosecution for allegedly abusing its dominance by charging excessive prices. Through the subsidiary, Afrimat is a supplier of a main ingredient in clinker... 

CompComm approves Afrimat, Diro deal

By: Megan van Wyngaardt     19th December 2016 The Competition Commission on Monday approved JSE-listed Afrimat’s intention to acquire Diro Iron Ore and Diro Manganese. The construction company is marking its entry into the manganese and iron-ore mining sector through the R276-million majority stake in Diro’s distressed assets. 

Afrimat buys controlling stake in distressed Diro

By: Creamer Media Reporter      11th October 2016 JSE-listed Afrimat is marking its entry into the manganese and iron-ore mining sector with its latest acquisition of a majority stake in Diro’s distressed assets for R276-million. The firm on Tuesday said it was acquiring 60% of Northern Cape-based Diro Manganese and Diro Iron Ore, the operations... 

Motsepe’s ARC buys 18% stake in Afrimat

By: Anine Kilian     23rd September 2016 African Rainbow Capital (ARC), which is owned by billionaire businessperson Patrice Motsepe, has bought an 18.36% stake in JSE-listed Afrimat. “Afrimat is of the view that this will create a long-term and sustainable black economic empowerment partner with certainty around shareholding which will... 

Afrimat acquires Bethlehem-based quarry

By: Anine Kilian     7th July 2016 JSE-listed construction company Afrimat has acquired construction products provider WG Wearne’s quarry, Wearne Aggregates, located in Bethlehem, in the Free State, through its subsidiary Rodag Holdings,  as well as Wearne Ready Mix Concrete, for R30-million. The Wearne Bethlehem plant and... 

Afrimat credits diversification thrust with 24% surge in H1 earnings

By: Natalie Greve     9th November 2015 Openpit mining group Afrimat has credited an understanding of the cyclical nature of the construction industry, coupled with the intentional diversification of its industrial minerals and construction materials product portfolio, with a healthy 24% uptick in headline earnings a share for the six... 

Afrimat buys Cape Lime in R276m deal

By: Anine Kilian     12th October 2015 JSE-listed Afrimat will buy lime and associated products producer Cape Lime from private sellers and empowerment group Dormell for R276-million in cash and shares. The acquisition included both of Cape Lime’s operations, in Vredendal and Robertson, in the Western Cape, which each had a remaining... 

Afrimat, Infrasors to buy back shares

By: Megan van Wyngaardt     31st August 2015 JSE-listed construction company Afrimat intends to repurchase a four-million Afrimat shares for an aggregate consideration not exceeding R74-million. Its majority owned subsidiary Infrasors would also enter into a share buy-back programme of three-million shares for an aggregate consideration not... 

Afrimat head speaks on how firm is navigating hostile environment

By: Irma Venter     5th December 2014 Remember the good times when construction and construction-related companies listed on the JSE, one after the other, and their share prices immediately surged upwards? The 2010 Soccer World Cup was coming and the outlook for brick and mortar was rosy. The boom of the mid-2000s, however, has since... 

Afrimat attributes growth to diversification strategy

By: Irma Venter     28th November 2014 JSE-listed openpit mining and materials company Afrimat has reported a 10.5% increase in revenue for the six months to August 31, to R1-billion, while profit after tax jumped 17.9%, to R88.8-million, compared with the same period last year. Full-year revenue for the company reached around... 

When the going gets tough, the tough face the facts, says Afrimat CEO

By: Irma Venter     11th November 2014 Remember the good times when construction and construction-related companies listed on the JSE, one after the other, and their share prices immediately surged upwards? The 2010 Soccer World Cup was coming and the outlook for brick and mortar was rosy. The boom of the mid-2000s, however, has since... 

Afrimat ups profit 18%, sees trend towards smaller projects

By: Irma Venter     6th November 2014 JSE-listed openpit mining and materials company Afrimat on Thursday reported a 10.5% increase in revenue for the six months to August 31, to R1-billion, while profit after tax jumped 17.9%, to R88.8-million, compared with the same period last year. Full-year revenue for the company reached around... 

Afrimat reports higher interim EPS, HEPS

By: Creamer Media Reporter      21st October 2014 JSE-listed materials supplier Afrimat expects to report basic earnings per share (EPS) of between 59c and 64c, when it releases its interim results for the six months ended August 31. This would be between 20% and 30% higher than the EPS of 49.1c recorded in the first half of the previous... 

Govt to shift construction focus from low-cost housing to service delivery projects, says Afrimat

By: Natalie Greve     15th May 2014 Industrial minerals and aggregate products provider Afrimat CEO Andries van Heerden expects a shift in government focus away from low-income housing development towards service delivery-centered infrastructure projects, saying this would boost demand for the company’s aggregates and further drive... 

Afrimat expects HEPS, EPS to increase by 40% to 45%

By: Leandi Kolver     29th April 2014 JSE-listed Afrimat on Tuesday said it expected its headline earnings a share and earnings a share for the year ended February 28 to increase by between 40% and 45%. The company also pointed out that the results of dolomite, limestone and silica producer Infrasors Holdings, in which Afrimat... 

Afrimat raises Infrasors minority buyout offer

By: Idéle Esterhuizen     7th June 2013 JSE-listed materials supplier Afrimat on Thursday increased its offer to the minority shareholders of resources group Infrasors from 35c a share to 65c a share to acquire their stake in the company. This was a premium to the current trading price of Infrasors of about 60c and was the same price... 

Infrasors CEO Robinson steps down

By: Natalie Greve     17th May 2013 JSE-listed Infrasors Holdings has announced the resignation of CEO Trevor Robinson, with effect from May 31.  Robinson headed up the South African resources company since September 27, 2009. 

Afrimat records higher earnings, works to turn around latest acquisition

By: Natasha Odendaal     9th May 2013 JSE-listed Afrimat aimed to focus its efforts on what CEO Andries van Heerden commented was the company’s largest, most challenging turnaround project to date. The construction materials supplier, which reported solid financial results for the year ended February 28, would, over the next two to... 

Afrimat makes offer to remaining Infrasors investors

By: Idéle Esterhuizen     12th April 2013 JSE-listed construction materials supplier Afrimat has offered remaining shareholders of South African resources group Infrasors 35c a share to acquire their shareholding in the company, the same price at which it bought the initial 50.7% interest from Hanchurch Asset Management and retiring... 

Afrimat extends mandatory offer to Infrasors shareholders

By: Idéle Esterhuizen     4th March 2013 JSE-listed construction materials company Afrimat on Monday announced that it was now the controlling shareholder in Infrasors, as from March 1. At the beginning of February, Afrimat made an offer to acquire a 50.4% stake in Infrasors from Hanchurch Asset Managers and certain retiring management... 

Afrimat moves to buy majority stake in Infrasors

By: Irma Venter     1st February 2013 JSE-listed construction materials company Afrimat has made an offer to acquire 50.4% of Infrasors Holdings from Hanchurch Asset Management, and a number of retiring Infrasors managers, in a deal which has been accepted by the sellers. The proposed transaction will grant Afrimat control of Infrasors. 

Afrimat makes offer to acquire 50.4% of Infrasors

By: Irma Venter     18th January 2013 JSE-listed construction materials company Afrimat on Friday announced that it had made an offer to acquire 50.4% of Infrasors Holdings from Hanchurch Asset Management and a number of retiring Infrasors managers, which had been accepted by the sellers. The proposed transaction would grant Afrimat... 

Amid the risks, Afrimat sees some fresh opportunities

By: Irma Venter     16th November 2012 While the downgrading of South Africa’s credit rating is a “big threat” to the country, there also lurk some opportunities in the move, says Afrimat CEO Andries van Heerden. 

Afrimat posts R76m profit, looks to SADC, renewable energy for growth 

By: Irma Venter     1st November 2012 While the downgrading of South Africa’s credit rating was a “big threat” to the country, there also lurked some opportunities in the move, said Afrimat CEO Andries van Heerden on Thursday. The more international sentiment and the global media turned against South Africa, the harder government was... 

Afrimat expects up to 25% increase in headline earnings

By: Megan van Wyngaardt     17th October 2012 Construction materials supplier Afrimat expects its headline earnings to increase by between 20% and 25%, the JSE-listed company said on Wednesday. Earnings per share for the six months ended August were expected to increase by between 7% and 12%, while headline earnings per share (HEPS) would... 

Afrimat chief says public sector is spending and paying

By: Irma Venter     25th May 2012 “As a country, South Africa often has a herd mentality. We have certain themes we believe and we act accordingly”, says Afrimat CEO Andries van Heerden. 

Infrastructure spending happening, market turning, says Afrimat 

By: Irma Venter     10th May 2012 “As a country, South Africa often has a herd mentality. We have certain themes we believe in and we act accordingly”, said Afrimat CEO Andries van Heerden on Thursday as he announced his company’s results for the year ended February 29 in Johannesburg. “We must start questioning some of the... 

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