Moody’s Investor Relations on Tuesday praised the restructuring initiatives made by South African gold and platinum group metals (PGM) miners in a bid to protect the sustainability and profitability, saying that these were benefiting their credit profiles. In a report on Tuesday, Moody’s vice president and senior analyst, Douglas Rowlings, said the changes will also shore up the production profiles of gold miners following a cycle of under-investment in reserves development since 2013.
