The worst time for a prominent South African miner in 20 years

Afrimat, a prominent South African miner, is facing its worst six months in 20 years, with the company describing the period as among the most difficult it has ever experienced. The struggles, largely attributed to its iron ore division, have led to a significant decline in profitability, and Afrimat now expects its earnings per share to swing to a loss of between 60 and 55 cents. This bleak outlook has significant implications for the company's financial health and future prospects.