Shumba forecast depressed coal prices
Friday, April 04, 2014
In its consolidated statement of comprehensive income for the half year, ended December 31, Shumba Coal states that in the reporting period they have seen the continuation of the depressed environment for junior miners seeking to raise capital in all markets.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...