MELBOURNE — South32, the diversified miner that is cutting its global workforce, says its loss-making and strike-threatened Colombian nickel asset must deliver a plan to return to profit in the coming financial year in order for it to remain in operation.Cerro Matoso faced a deadline of July 2017 to demonstrate how it would begin to improve cash flow, CEO Graham Kerr said on Thursday.The Perth-based producer was continuing talks with union members at the asset to avert a planned strike in June amid a dispute over a wage offer."If they are not cash flow positive; if they can’t show me a plan to be cash flow positive, well we shouldn’t be running," he said."We can’t cross-subsidise across the group, so if we can’t restructure in a way that makes sense — well, then we won’t produce," Kerr said.Cerro Matoso was South32’s remaining asset of concern, as other loss-making units showed progress towards a recovery.About 70% of global output is still unprofitable, according to GMK Norilsk Nic...
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