Andries Van Heerden

ANDRIES van Heerden had treacherous waters to navigate in 2025 but the diversified minerals company seems relatively well positioned for the economic tides of 2026. The future of the Nkomati Anthracite Mine is shrouded in uncertainty following the shuttering of ferrochrome capacity in South Africa – which the mine supplies. But overall there are signs of recovery for Afrimat. Reducing debt – which stood at 52.5% on a debt:equity basis in October – is high on Van Heerden’s radar screen for 2026. To this end Afrimat has said that “every effort is being made” to sell non-core and unprofitable assets.

South Africa’s investment environment is troubled to say the least and Van Heerden is not afraid to speak his mind. “South Africa has no shortage of plans, strategies or willing investors. What we lack is speed and certainty in implementation,” he wrote in an op-ed in December, published in the Financial Mail. “Though I’m not an economist or a politician, I do wonder, from an entrepreneur’s perspective, why the government can’t just implement a handful of practical steps that could make a substantial difference?” Such sentiments reflect wider views among South Africa’s business and mining sectors.

Van Heerden was visibly frustrated by the almost year-long wait for the Competition Tribunal to clear Afrimat’s Lafarge transaction. His view is that the government must step aside and allow business to build South Africa – and it is a view that is gaining traction.