African Mining Indaba Special Edition
WA Stock Exchange Index - February 2014
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.
In this special edition, we look at the performance of Western Australian listed companies with operations in Africa over the past 12 months.
- The market capitalisation of WA listed companies which comprise the Deloitte WA Index rose 4.8% over the 12 months to 31 December 2013, to close the year out at AU$155.6bn
- The Deloitte WA Index hit a four year low during the year of AU$125.6bn at 30 June 2013. However a recovering iron ore price and the falling Australian dollar kick-started the recovery during the second half of the year, with momentum building following the Federal election in September
- In terms of WA listed companies with operations in Africa that comprise the Deloitte WA (Africa) Index, market capitalisation fell 44.5% over the 12 month period ended 31 December 2013, to close at AU$7.60bn. These companies represent just 4.8% of the total Deloitte WA Index, compared to 9.2% at 31 December 2012
- With one or two exceptions, the majority of commodity prices fell during the 2013 calendar year. The largest falls were experienced by gold (-27.3%), silver (-34.9%) and uranium (-21.1%)
- In this special edition, we recognise two companies who achieved market capitalisation growth over the year ended 31 December 2013:
- Base Resources Limited, with an increase in market capitalisation of 81.3%, from AU$132m to AU$239m
- Tiger Resources Limited:, who posted an increase in market capitalisation of 39.4%, from AU$199m to AU$277m.
Feature articles include:
- Interview with Mark Connelly, Managing Director and CEO of Papillon Resources Limited on Papillon’s African strategy and the development of their flagship Fekola Project
- Africa: The fast maturing continent which looks at the complications of operating in Africa
- Modular plants: for smarter mining in Africa which considers the introduction and use of smaller, scalable and modular plants over traditional methodologies currently being applied.