South Africa's Royal Bafokeng Delays Projects, Swings To FY Loss

This is source I found from another site, main source you can find in last paragraph

JOHANNESBURG (Reuters) - South Africa's Royal Bafokeng Platinum Ltd (RBPlat) said on Tuesday it would delay major capital projects due to sustained depressed commodity prices as it swung into a full-year loss.

Headline loss per share - a popular measure that strips off certain one-off items - totalled 83.2 cents in the year to December from earnings of 238.6 cents in the prior period.

Platinum has fallen to multi-year lows due to oversupply and lack of demand forcing producers of the commodity to abandon projects, sell mines and cut jobs.

RBPlat said it would scale down on the development of its Styldrift project and defer the other projects due to the slump in platinum prices with the view to resume work when commodity prices improve.

"The material reduction in PGM prices experienced during the first half of the year and the view that the PGM market is likely to remain depressed in the medium term influenced this decision," the company said in a statement.

The mid-tier producer said it anticipated platinum group metal prices to remain depressed at least for the next 12 months.

(Reporting by Zandi Shabalala; Editing by Anand Basu)

This is source I found from another site, main source you can find in last paragraph

Source : https://finance.yahoo.com/news/south-africas-royal-bafokeng-delays-projects-swings-fy-065642124--finance.html

enterprise

performing

South Africa's Royal Bafokeng delays projects, swings to FY loss
Do you know this woman? You'll probably want to! CCTV of mystery person who could be in line for $23m SuperLotto jackpot
Business Now: live market coverage; ASX recovers as metal firm miners; plus analysis and opinion
Impala Platinum sees FY HEPS between 56-75 pct lower
Stories for August 2012
from concept to completion
Stories for February 2014
Platinum Group Metals Ltd (PLG)