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Petmin highlights delays in accessing new mining areas at Somkhele

JSE-listed Petmin’s normalised earnings decreased by 43% to 8.49c a share for the six months to December 31. The company attributed the lower earnings to lower average selling prices for anthracite exports and 12% higher operating costs as a result of delayed access to new mining areas at its Somkhele mine, in KwaZulu-Natal.