[ICYMI] 'I think the more you diversify, obviously the less the risk becomes if you can do business globally,’ said MDrillingGroup's CEO Danie Pretorius on SAfmRadio MarketUpdate with FifiPeters. Download podcast below. Moneyweb MiningNews
We’ve been hearing a lot about the good times in the mining sector. Soaring commodity prices are benefiting the industry. [Miners are] getting a whole lot of export earnings as a result, and South Africa’s fiscus is also benefiting from the higher taxes that Sars is getting from the increased profits from the industry.
That’s a difficult question. What I can share with you [from] my experience is the winters are much longer than the summers. You know, we’ve been picking up the tailwinds from the early 2020s, and we are now going into the third year. So who knows? I must admit, I think from the …… 1:45 are quite sound. If you just look at the copper yesterday, ……1:49 South America, and the uncertain …… certainly go.
What we have seen previously is the higher commodity prices that have benefited the sector have not necessarily led to new investments being made by the mining sector; maybe a lot of mergers and acquisitions, but not new investments and not more or new exploration activities that have happened.
I wouldn’t say we are doing a lot differently. What we took from Covid is most certainly the way we run our businesses, and specifically fixed cost in the business. I think that’s one of the lessons that we’ve learned; fixed cost as a service provider contractor is very important to manage. I think that’s the one. Two is the amount of labour. I think that’s probably the second one. Obviously the first one which we got right by hook or by crook the past 30-odd years is to diversify the business.
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