South32 battered on multiple downgrades
South32 shares have been pummelled as the company became the latest miner to reduce guidance in the wake of wet weather and broader issues across its global operations.
South32
ASX ends down 0.1pc; iron ore falls hit miners
REITs rally as miners and energy stocks fall. Iron ore at five-month low. Invocare dives as TPG walks. South32 tanks on production miss. Bluescope ups outlook on steel prices.
Batteries to charge-up manganese market
Manganese is mostly used in the steel industry but demand from the booming battery market is rising fast. These ASX miners are ready to take advantage.
Fortescue ‘family’ about to get smaller
Staff lured to work for Fortescue Future Industries on the promise of doing good as well as earning big wages now face the axe.
ASX lifts 0.1pc; Pilbara, BNPL stocks soar
Shares edge up slightly led by tech. Sezzle rockets 38 per cent on profit beat. Pilbara jumps on broker upgrade. Karoon rises after reserves boost. AFIC boosts dividend.
Mining boss attacks lightning move to raise royalties
South32 has joined the mining industry attack on Queensland’s decision to hike payments without consulting the sector.
ASX ends down; Origin soars, Xero lower
Billionaire Solomon Lew close to significant board victory. Whitehaven extends share losses. Sandfire taps South32 veteran as chief. Perpetual fires back at Pendal after rejecting Regal. Bitcoin falls amid building crypto storm.
ASX ends higher; Westpac’s $1.3bn profit warning
The sharemarket trims gains as materials soar. China GDP beats expectations. Medibank’s hack alerts to dead customers. Star higher on gaps in repair plan. Vulcan, Novonix top gainers. Tavistock increases AACo board control.
Overlooked by investors, royalties fetch princely sums
Mining giants find there is a deepening pool of buyers for global assets that have long been undervalued, but high commodity prices are delivering strong returns.
South32 hits $US2.7bn profit, eyes royalties risk
Cashed-up miners celebrating record profits face a ‘real risk’ of tax and royalty hikes as governments look to plug budget holes, according CEO Graham Kerr.
Blue chips push ASX up; JB Hi-Fi, City Chic dive
ASX storms to best finish in two weeks as real estate stocks jump. Paladin leads uranium gains, City Chic hammered on result, Qantas’ ‘surprise’ for investors and Woolworths tumbles.
South32 walks away from Illawarra coal extension
The group won’t press ahead with plans to extend its Dendrobium coking coal mine to new areas beneath Sydney’s main water catchment area.
South32 delivers pleasant surprise on costs
South32 shares rose on Monday, after bucking the industry trend and delivering annual operational costs within its guidance.
ASX flat; miners gain, tech sags; EML smashed
ASX unchanged as miners gain and tech slips. Genex soars on Scott Farquhar bid, AOF dives on Aliro exit, EML smashed on update and Flight Centre jumps on guidance upgrade.
ASX flat; staples, utilities gain; Sezzle smashed
ASX steady in mixed session. Sezzles dives 38 per cent on axed merger as Zip gains; consumer confidence falls, coal miners rally and South32 strikes $US200m royalty deal.
ASX jumps 0.8pc; South32, Rio lead mining surge
ASX higher as miners rebound. Coal pushes trade surplus to record, Pinnacle Investment soars, Dye & Durham ups Link offer, Zip falls on downgrade and Crown CEO exits.
South32 set to put Illawarra mine up for sale
Speculation is mounting that one of the next assets in the mining and metals space to be placed on the block will be South32’s metallurgical coal operations in the Illawarra.
ASX up, led by Fortescue, Telstra, TPG
ASX 200 closed up 0.3 per cent after a mixed session. Fortescue was the top performer followed by Telstra and TPG. However, investors dumped lithium stocks. GDP up 0.8 per cent, which bodes well for the economy. Origin sold off after dumping guidance.
ASX up on BHP, South32; UK inflation surges
ASX climbs for fourth day led by the materials sector. Fortescue up on Forrest’s new role, A2 Milk to defend NZ class action, Boral $45m earnings hit and UK inflation hits 40-year high.
Cost pressures bite at South32
South32 has joined a growing list of major miners warning of rising cost pressures.
Original URL: https://www.theaustralian.com.au/topics/south32/page/3