Stanmore snatches up South32’s share of Eagle Downs

Western Australia-based South32 said its subsidiary South32 Eagle Downs has agreed to divest its 50% interest in the Eagle Downs metallurgical coal project in Queensland to a Stanmore Resources subsidiary. The miner, which owns the project along with China Baowu subsidiary Aquila Resources, is divesting its interest for US$15 million. The transaction is expected to be completed by year’s end.…

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South32 evaluating Colombian nickel complex on price drops

South32 revealed in its quarterly production and earnings report this week that it will be placing its Cerro Matoso nickel operation in Colombia under a strategic review following a reduction in prices paired with a production shortfall. The complex’s payable nickel production in 2H23 was 18.3 million tonnes, down 10%, despite the miner’s outlook of 40.5Mt full-year while eyeing higher…

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South32 completes interest acquisition in Sierra Gorda

Australia-based and globally focused South32 said 22 February that it has completed its 45% interest acquisition in the Sierra Gorda copper operation in northern Chile from Sumitomo. The final price tag was US$1.4 billion cash plus a contingent price-linked consideration component that will be up to $500 million. It will be due when copper production rated in 2022-2025 meet certain…

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