https://newsletter.mw.creamermedia.com
Business|Coal|Copper|Energy|Projects|Resources
Business|Coal|Copper|Energy|Projects|Resources
business|coal|copper|energy|projects|resources

South32’s Illawarra coal sale unconditional

29th July 2024

By: Creamer Media Reporter

     

Font size: - +

All conditions precedent to the sale of Illawarra metallurgical coal to an entity owned by Golden Energy and Resources and M Resources have been satisfied, diversified miner South32 reported on Monday.  

With the transaction now unconditional, the company expects it to complete around September 2.

CEO Graham Kerr said the sale was a “significant milestone” in the transformation of South32’s portfolio towards commodities critical to a low-carbon future. “The transaction will simplify our business, strengthen our balance sheet and reduce our capital intensity, unlocking capital to invest in our high-quality development projects in copper and zinc.”

He stated that South32’s strategy and approach to capital allocation was unchanged. “We remain focused on delivering our development projects and advancing our portfolio of earlier stage options to further increase our exposure to commodities critical to a low-carbon future and realise substantial value for our shareholders."

On completion, South32 will receive the upfront cash consideration of $1.05-billion less the $49-million deposit already paid.

Edited by Creamer Media Reporter

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.069 0.149s - 126pq - 2rq
Subscribe Now