Buyers have eyes on South32’s SA coal operations
Diversified mining company South32 has received formal expressions of interest in the sale of its South African coal operations
Diversified mining company South32 is moving ahead with the sale of its South African coal operations and has received formal expressions of interest. The company, which spun off from BHP Billiton in 2015, had started the “process to broaden and transform the ownership of South Africa Energy Coal”, said CEO Graham Kerr. In 2017, South32 noted its intention to spin off the South African coal business with the aim of it becoming a black-owned producer. After this sale, South32 will remain invested in SA through its manganese operations and its Hillside aluminium smelter. On Thursday, South32 reported good production numbers for the September quarter, the first three months of its new financial year, and Kerr said it had maintained its annual production guidance for all operations.
Its metallurgical coal production, the type used in steelmaking, from its Illawarra project in Australia performed particularly well and increased 39% compared with the previous quarter. Its manganese ...
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