Australia’s South32 has completed the acquisition of a 45% stake in the Sierra Gorda copper mine in Chile from Japan’s Sumitomo Metal Mining and Sumitomo Corp, in a US$1.4 billion cash deal. The deal, originally struck in October 2021, includes a contingent price-linked consideration of up...
Australia’s South32 will spend around US$70 million on the restart of an aluminium smelter in Brazil, which has been on care and maintenance since 2015. The global diversified miner and its joint venture partner Alcoa Corp aim to bring the Aluma smelter back online by June...
South32 has agreed a deal with Sumitomo Metal Mining and Sumitomo Corp for the acquisition of around US$1.5 billion worth of shares in the Sierra Gorda copper mine in Chile. The Japanese sellers, who together hold a 45% stake, had said last year that they were considering exiting...
AIM-listed gold miner Chaarat has appointed South 32’s outgoing corporate operating officer (COO) Mike Fraser as its new chief executive, in a move which will take effect on January 17, 2022. In a statement, the incoming CEO detailed his excitement to take Chaarat, which owns the...
South32 has announced the sale of its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance. The Australian diversified miner said on Thursday that GFG, owned by British conglomerate Sanjeev Gupta, will acquire 100% of the shares in TEMCO...
Rio Tinto has announced it will distribute a further US$2.5 billion back to its shareholders having seen its coffers swell following the sale of its Coal & Allied business. The share buyback programme arrives as a further boost to the Anglo-Australian mining giant’s shareholders, who will...
Perth-based mining firm South32 (ASX:S32) has scrapped its US$200 million purchase of a coking coal mine in New South Wales, citing the ‘significant concessions’ needed to gain approval from the competition watchdog. Following South32’s decision to buy the colliery in November 2016, the Australian Competition and...
South32 (ASX, LSE, JSE:S32) has completed a US$200 million purchase of Peabody Energy’s Metropolitan Colliery in New South Wales, Australia. The Australian-based BHP Billiton spin-off, which had been on the hunt for new assets to add to its portfolio for some time, added that the deal...