Metals and Mining
Company Overview of Palabora Mining Company Limited
Palabora Mining Company Limited, together with its subsidiaries, engages in the mining, extraction, and sale of copper, magnetite, and associated by-products. The company operates a block cave copper mine and smelter complex in the Limpopo Province, South Africa. Its products include copper and cathode rods, and copper concentrates; magnetite and stockpiled magnetite used as feed materials in iron and steel industry, as well as by-products, including nickel sulphate, anode slimes, and sulphuric acid. The company also produces and markets vermiculite. It operates in South Africa, Australia, Europe, Asia, the United States, and other African countries. The company was incorporated in 1956 and ...
No 1 Copper Road
Founded in 1956
Key Executives for Palabora Mining Company Limited
Chief Executive Officer and Executive Director
Chief Financial Officer and Ex-Officio Board Member
General Manager of Corporate Affairs and Company Secretary
General Manager of Human Resources
General Manager of Mining
Compensation as of Fiscal Year 2014.
Palabora Mining Company Limited Key Developments
Palabora Mining Company Limited Reports Consolidated Earnings and Production Results for the Year Ended Dec. 31, 2013
Mar 4 14
Palabora Mining Company Limited reported consolidated earnings and production results for the year ended Dec. 31, 2013. For the period, the company reported revenue of ZAR 11,625 million against ZAR 8,716 million a year ago. Profit before net finance income and tax was ZAR 926 million against loss before net finance income and tax of ZAR 173 million a year ago. Finance income was ZAR 669 million against ZAR 122 million reported last year. Profit before tax was ZAR 1,534 million against loss before tax of ZAR 110 million reported last year. Profit attributable to equity holders of the parent was ZAR 1,032 million or 2,136 cents per basic and diluted share against loss attributable to equity holders of the parent of ZAR 97 million or 201 cents per basic and diluted share a year ago. Net cash generated from operating activities was ZAR 1,430 million against ZAR 148 million a year ago. Capital expenditure increased to ZAR 406 million from ZAR 366 million in 2012. Headline loss was ZAR 1,033 million or 2,138 cents per share against ZAR 82 million or 171 cents per share. reported last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) was ZAR 1,669 million against ZAR 413 million reported last year. Adjusted EBITDA (excluding non-recurring items and growth costs) was ZAR 2,536 million against ZAR 1,097 million reported last year.
New copper anode production increased by 24% (51kt vs 41kt) and refined copper production increased 20% to 49kt compared to 41kt for 2012. Total magnetite production, consisting of course material (65% fe), iron oxide (56% fe) and dense medium separation fine material (DMS), increased to 6.5Mt from 5.3Mt in 2012. Vermiculite production was deliberately decreased by 4% to 128kt compared to 133kt for 2012 to ensure continued alignment with sales in line with competitive market conditions.
Palabora Mining Company Limited Provides Earning Guidance for the Year Ended December 31, 2013
Feb 27 14
Palabora Mining Company Limited provided earning guidance for the year ended December 31, 2013. For the year, the company expects basic earnings of ZAR 1,032 million or 2,135 cents per share and headline earnings of ZAR 1,033 million or 2,137 cents per share. The guidance compares with basic loss of ZAR 97 million (201 cents per share) and headline loss of ZAR 82 million (170 cents per share) for the comparative previous year.
Palabora Mining Company Limited Announces Resignation of Abel Malinga as Director
Nov 15 13
Palabora Mining Company Limited announced that Mr. Abel Malinga has resigned as Director with effect from November 13, 2013.
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