COAL MINES AND MINING – SOUTH AFRICA

South32 poised to exit S African coal assets as profit plunges

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Original article by Nick Evans
The Australian – Page: 20 : 23-Aug-19

Diversified miner South32 has posted a 2018-19 statutory net profit of $US389m, which is 71 per cent lower than previously. The result was marred by a $US504m impairment charge associated with its South African thermal coal assets. Underlying earnings fell by 25 per cent to $US992m. Meanwhile, South32 is set to sell its South African coal mines to Seriti Resources, and CEO Graham Kerr has ruled out buying any more thermal coal assets, including BHP’s Mt Arthur mine.

CORPORATES
SOUTH32 LIMITED – ASX S32, SERITI RESORCES, BHP GROUP LIMITED – ASX BHP

Offers flood in as South32 readies for South Africa coal exit

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Original article by Paul Garvey
The Australian – Page: 15 & 16 : 18-Jan-19

Diversified miner South32 expects final bids for its South African thermal coal assets to be submitted by the end of July. CEO Graham Kerr says the assets have attracted strong interest from potential bidders, and this is likely to result in 2-3 firm offers. Meanwhile, South32 has advised that CFO Brendan Harris has become its chief marketing officer, while Katie Tovich in turn has been appointed CFO.

CORPORATES
SOUTH32 LIMITED – ASX S32, ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED, WHITEHAVEN COAL LIMITED – ASX WHC