Petmin Limited. JSE: PET
Background of Petmin[info_list font_size_icon=”24″][info_list_item list_icon=”Defaults-check”]Petmin is a geographically diversified, multi-commodity mining company based in South Africa, with a developmental iron project in Canada. With a history stretching back to 1972, the company focuses on commodities that support the steel value chain, and is today South Africa’s leading producer of metallurgical anthracite through the Somkhele anthracite mine in KwaZulu-Natal. Operated through wholly-owned subsidiary Tendele Coal Mining, the mine employs more than 900 people and has an annual capacity of 1.1 million saleable tonnes of anthracite and 400 000 saleable tonnes of energy product.[/info_list_item][info_list_item list_icon=”Defaults-check”]Approximately half of production is exported via Richard’s Bay to international markets, mainly Brazil. The balance is sold to the ferro-alloy industry in South Africa[/info_list_item][info_list_item list_icon=”Defaults-check”]Petmin went on to buy a 40% stake in the North Atlantic Iron Corporation (NAIC), a development stage industrial company that plans to produce merchant pig iron from its significant iron sands deposit in Canada.[/info_list_item][info_list_item list_icon=”Defaults-check”]Petmin shares are for sale on the Johannesburg Stock Exchange (JSE) with a market cap of R750 million. Petmin share price has been battered by the difficult conditions within the global steel industry.[/info_list_item][/info_list]
Petmin Group Investor Tip
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