https://newsletter.mw.creamermedia.com
Mining|Platinum
Mining|Platinum
mining|platinum

Wesizwe to post narrowed losses

25th March 2024

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed Wesizwe Platinum expects to report a 76% to 86% year-on-year narrowing in its loss a share to between 1.14c and 1.96c for the year ended December 31, 2023, compared with a loss a share of 8.24c posted for the prior year.

The company’s headline loss a share is expected to show an improvement of between 79% and 88% to between 0.95c and 1.77c, compared with a headline loss a share of 8.24c in 2022.

Wesizwe will publish its results on or about March 28.

The company has been mulling the restructuring of its Bakubung platinum mine, in North West, including by retrenching employees, owing to lossmaking shafts.

A switch in mining method and various labour unrest incidents since 2022 have exacerbated the mine’s problems.

Wesizwe has already stopped overtime and weekend work at Bakubung, and refrained from renewing fixed-term contracts of non-critical staff. It also placed a moratorium on recruitment of noncore staff, with the aim of reducing its bloated structure.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 March 2025
Magazine round up | 21 March 2025
21st March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.109 0.185s - 144pq - 2rq
Subscribe Now