South32 flags sale of Illawarra Metallurgical Coal for up to $1.65bn
The transaction will result in the Perth-based miner simplifying its business and reducing capital intensity
29 February 2024 - 12:54
Diversified miner South32 has agreed to sell its Illawarra Metallurgical Coal business for up to $1.65bn (R31.6bn), making headway in its strategy to simplify and reduce capital intensity.
The deal, which has been struck with an entity owned by Golden Energy and Resources (GEAR) and M Resources, will see the buyer assuming economic and operating control of Illawarra Metallurgical Coal, including all current and future liabilities...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.