|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||14.07 - 14.29|
|52 Week Range||7.51 - 16.25|
|Beta (5Y Monthly)||0.61|
|PE Ratio (TTM)||57.54|
|Forward Dividend & Yield||0.24 (1.75%)|
|Ex-Dividend Date||Aug 06, 2019|
|1y Target Est||4.75|
Mines across South Africa shut down on Tuesday after flash flooding triggered the most severe power blackouts in more than a decade, threatening a key export sector in a further blow to the country's already slowing economy. Heavy rains across parts of South Africa have submerged entire neighbourhoods, leading to evacuations and aggravating problems at state-owned utility Eskom, which has been struggling to keep the lights on since 2008. Harmony Gold, Impala Platinum and Sibanye-Stillwater all said they had been forced to cut production since Monday because of power shortages.
Russian-Zimbabwean joint venture Great Dyke Investments (GDI) said on Tuesday it required a further $500 million for the first phase of its Zimbabwean platinum mining project and was in advanced talks with Russian and South African lenders for syndicated financing. Russia's Vi Holding, through its JSC Afromet subsidiary, owns half the shares in GDI, while Zimbabwe's Landela Mining Venture (Pvt) Ltd owns the rest. The venture, which had initially earmarked $400 million for the first phase of the project, aims for the mine to start production in 2021 and at its peak produce 860,000 ounces of platinum group metals and gold per year.
Zimbabwe expects to increase diamond production to 11 million carats by 2023 from 3.2 million carats last year, the mines minister said on Monday, part of an ambitious plan to raise mining output and earn the country $12 billion a year. The mineral-rich southern African nation sees the mining sector as the main driver for reviving an economy crippled by triple-digit inflation and high unemployment. Zimbabwe's government has previously set ambitious targets on mining production but output has rarely met those goals because investors often cite archaic investment regulations and uncertainty over the safety of their investment.