South32 sees net cash almost double to $517m
The JSE-listed miner set production records at its Brazil alumina and Australia manganese businesses
28 April 2021 - 11:51
Diversified miner South32, which is selling its SA coal assets to black-owned Seriti Resources, saw its net cash increase 90% in the first three months of 2021 on the back of a strong operating performance and improved commodity prices.
“Strong operating performance across the portfolio during the quarter, combined with improving prices for most of our commodities, saw our net cash position increase [by $242m (R3.47bn)] to $517m,” said South32 CEO Graham Kerr...
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