South32 reviews future of smelter amid higher power prices
Though no final decision has been made, the review could result in South32’s divestment from its manganese alloys smelter or even its closure
Diversified miner South32, which was unbundled from BHP in 2015, is reviewing its manganese alloy smelter, which employs 300 people, as analysts warn that SA’s soaring power prices are making the sector uncompetitive.
“We continue to review options for our manganese alloy smelters as changes in market dynamics have reduced the attractiveness of our exposure,” the Australia-based miner said in a report for the three months ended June. ..