Pieter de Wit: Acquisition opportunities allow Afrimat to continue with its diversification strategy

Afrimat will be pursuing several acquisition opportunities, including the Nkomati Anthracite mine.

Afrimat has announced that it is pursuing several acquisition opportunities in line with its diversification strategy because of a maintained healthy balance sheet, despite the impact of Covid-19. 

“We are busy with two acquisition opportunities in the bulk commodities space of which one is in the iron ore space and the other one is the Nkomati Anthracite mine,” Afrimat CFO Pieter de Wit says. “We are also busy with an opportunity in the industrial minerals space.”

Pieter says that Afrimat is expecting to see more opportunities in all three of these segments during the next six to 12 months as a result of the economic difficulties caused by Covid-19 and lockdown. 

“These opportunities will allow Afrimat to continue with its growth and diversification strategy,” he says. 

Afrimat’s diversification strategy commenced in 2009, leading to the acquisition of Glen Douglas Dolomite in 2010, the Clinker Group in 2012, Infrasors in 2013, Cape Lime in 2015, Demaneng in 2017, and Unicorn Capital Partners early in 2020.