Graham Kerr moves away from northern hemisphere
And he wants to keep tilting South32’s needle towards ‘green’ metals, in spite of thermal coal’s price leap
There was a time when it seemed South32 CEO Graham Kerr might have to rename his company. That was because the group, despite being founded on BHP’s offcuts in the southern hemisphere, was investing entirely in North American growth. Then came the $1.5bn purchase of Sumitomo’s 45% stake in Sierra Gorda, an operating copper mine in Chile.
The deal, in October, was a game-changing moment for South32. It provided immediate cash flow to South32 at a time when the copper price was surging through decade highs. The metal has cooled of late amid global recession concerns, but the cycle appears largely intact, given the forecast supply deficits over the next five to 10 years...
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now