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African Mining Indaba Special Edition – 2015

Western Australia Index

Welcome to the African Mining Indaba special edition of the Deloitte WA Stock Exchange Index (Deloitte WA Index), a monthly review of Western Australian (WA) stocks and indices.

Australian investment into Africa: A change in direction

In this special edition, we look at the performance of Western Australian listed companies with operations in Africa over the past 12 months. 

Highlights

  • The combined market capitalisation of WA-listed companies with operations in Africa that comprise the Deloitte WA (Africa) Index fell $3.59bn, a huge 47.3% over the 12-month period, to close at AU$4.0bn
  • Of this movement, AU$2.0bn is attributable to merger and acquisition activity that saw nine companies with African operations delisting from the ASX during the year
  • By comparison, the market capitalisation of all WA-listed companies which comprise the Index, not just those operating in Africa, declined just 16.9% over the same period, closing the year out at AU$129.3bn - the lowest point since June 2013
  • The Index did, however, hit a two-year high mid-year at AU$156.9bn, before the resource dependent market was weighed down by falls in commodity prices in the second half, influenced by weaker demand from the Chinese manufacturing sector, a strengthening US dollar and oversupply of some of the major commodities
  • We recognise the two top performing mining companies in what has been a challenging year for all. Congratulations to Newfield Resources Limited and Paladin Energy Limited who increased market capitalisation respectively by 202.0% (AU$57m) and 33.8% (AU$152m), identifying them as the top Deloitte WA Index Indaba Edition Movers and Shakers for 2014.

Feature articles include:

  • Interview with John Welborn, Managing Director and CEO of Equatorial Resources Limited, Rod Leonard, Managing Director of Lycopodium and Robert Willes, Managing Director of Challenger Energy Limited
  • Australia’s changing investment into Africa – The focus shifts to Oil & Gas
  • Southern Africa Coal: Black Hole or Black Gold?
  • African tailings: liability or asset?
  • Promoting integrity mitigates the risk of fraud and corruption.

If you have any questions in relation to the Deloitte WA Index please contact Adrian Kelly on +61 8 9365 7266. 

Deloitte Western Australian Stock Exchange Index - African Mining Indaba Special Edition, February 2015
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