Market finishes in the black. Star ex-CEO Robbie Cooke recalls ex-lawyer to inquiry. Coal standout in South32’s mixed quarterly update. Eneco founder’s market manipulation sentence. ATO rues PwC failure to take tax leaks seriously.
South32 is restoring fuel supplies to its Gulf of Carpentaria manganese operation after Tropical Cyclone Megan damaged key infrastructure.
Sierra Rutile soars on unsolicited bid. Iconic retailer Godfreys to shutter. OreCorp lifts amid Perseus, Silvercorp tussle. Amcor falls on CEO’s retirement. Listed minnow slapped with huge fine.
South32’s bumper $2.5bn sale of Illawarra Metallurgical Coal raises the prospect EMR Capital will now bring its Kestrel mine to market.
Mining group South32 is selling its Illawarra coal site to a Ferrari-loving millionaire and a Singapore investment house.
South32 is believed to have had plans to sell its Illawarra coal operations for more than six months.
ASX 200 hits all-time intraday high, just misses closing record, with end-of-month buying a factor. Plastics manufacturer Qenos may shut plants. Star, Ramsay Health Care and Harvey Norman gain.
The mining major has ticked off on the development of a new $US2.2bn mine in the US, cancelling its share buyback to conserve cash as commodity prices fall.
Another high-profile Fortescue empire departure. IGO hit by South32 royalties claim, broker downgrades. Business confidence falls. SkyCity ups AUSTRAC penalty provision.
Critical minerals pullbacks by Liontown, Chalice, South32 and Andrew Forrest’s Wyloo. OreCorp battle heats up. Appen plunges after losing Google contract. Zip gains.
Qantas’ frequent flyer overhaul after complaints. Treasury Wine lifts on potential China rebuild plans. South32 down on weak quarter. Propel Funerals gains on bid dismissals.
Coronado Global Resources is believed to be in talks with South32 about buying its Illarwarra Metallurgical Coal operations.
South32 chief executive Graham Kerr says the company’s Hermosa project in the US is still valuable to it, despite taking a massive impairment on the asset.
There’s renewed speculation South32 is considering placing its $1bn metallurgical coal operations on the market.
South32 and Sandfire Resources may not be fierce competitors for Khoemacau, but possibly allies in the race.
Top Australian miners Rio Tinto and South32, along with Anglo American are understood to have moved on from Chalice Mining ahead of the deadline for first round bids.
The Australian major joins the likes of Rio, Hastings, BCI, IGO and a host of other miners flagging blowouts and writedowns ahead of reporting season.
Energy, property stocks up. Suncorp to ‘support’ ANZ merger process amid ACCC delay. ‘Short-term risks’ weigh on Monadelphous. South32 flags $US1.3bn Hermosa hit. Core cuts output.
Buying the $US2bn copper mine Khoemacau in Botswana is not looking like an easy exercise for Sandfire Resources or South32, with competition for the asset shaping up to be fierce.
South32 is keen to invest further in copper and has taken part in the sale process for other global assets.
Original URL: https://www.theaustralian.com.au/topics/south32/page/2