African Rainbow-Restructured Debt Might Be A Problem But Not In The Long Term – African Rainbow Minerals Ltd. ADR (…


African Rainbow Minerals (OTCPK:AFRBY) is a South African mining company headquartered in Johannesburg, SA (read: South Africa). The company operates separate business segments for its platinum, iron ore, copper and coal businesses, besides having ~15% interest in the third largest SA gold miner; Harmony Gold (HMY). AFRBY is a subsidiary of HMY and the 15% interest owned in its parent entity was acquired in 2003 as a result of a merger between AFRBY and HMY. Except for AFRBY’s copper business, all businesses are spread across South Africa. Moreover, I would like to clarify that AFRBY recently disposed of its copper business.

Investor Takeaway:

In this article I will analyze the impact of restructuring of AFRBY’s coal debt. My analysis indicates that AFRBY will face short-to-medium term…

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