South32 profits surge as reshaped portfolio delivers
South32 cracked it in the year to end-June more than doubling operating profit from continuing operations and declaring a 5.4 US cents final dividend which boosted the total…
South32-Alcoa deal exposes beneficiation myth
THERE are few words in South African economic policy more seductive than “beneficiation”. It has everything: moral uplift, industrial ambition, a pleasingly muscular rhythm and…
South32 waiting for IDC to play hand in Mozal sale
SOUTH32 is waiting for firm proposals from minority shareholders in Mozal Aluminium before progressing recently hatched plans to sell the 370,000 ton a year Mozambique smelter.…
South32 to sell aluminium assets to Alcoa for $4.1bn
SOUTH32 is to sell its aluminium assets, including South Africa’s Hillside facilities but excluding the shuttered Mozal Aluminium in Mozambique, to Canada’s Alcoa for $4.1bn in…
South32 looking at “various options” with Mozal stake
SOUTH32 said on Monday it was considering its options with respect to its 63.7% stake in the Mozal aluminium smelter in Mozambique amid speculation South Africa’s Industrial…
South32 and Eskom in talks over Hillside smelter power supply following closure of Mozal
South32 and Eskom have stepped up negotiations to establish a new electricity supply agreement for the Hillside Aluminium smelter in Kwa-Zulu Natal following the closure of the…
South32 pumps aluminium output to seize high prices
SOUTH32, the global metals producer, is pulling out all stops to take advantage of aluminium prices at four-year highs, even as the Middle East conflict pushes up input costs. As…
Kenmare’s year of prices, politics and pain
MOZAMBIQUE is having a moment, and not in a good way. Fresh from the divestment of Australian miner South32 following the forced closure of aluminium smelter Mozal near Maputo,…
Exxaro concludes 9.3mt coal sale with Eskom
EXXARO Resources said on Thursday it had signed an agreement with Eskom, South Africa’s power utility, to supply 9.3 million tons of coal a year to Matla power station, near…
There’s more to Exxaro price surge than energy security
SHARES in Exxaro Resources ran to a three year high this week and were not far short of their five-year high, reached in 2022. That was shortly after Russia’s invasion of…
South32 too risky for predators, says outgoing CEO
AN estimated $34bn in deals has gripped the mining sector since 2024, according to Canadian law firm Dentons. Efforts to consolidate ownership and strip back complicated…
South32 to incur $60m cost as Mozal mothballed
SOUTH32 said on Monday it had put its 63.7%-owned, 320,000 ton a year Mozal aluminium smelter in Mozambique on care and maintenance, effective March 15. Costs associated with the…
Exxaro cuts renewable energy target as revises capital plans
EXXARO Resources confirmed it is reviewing its dividend policy, an outlook CEO Ben Magara first made clear last year after agreeing to buy the manganese assets of Ntsimbintle…
South32 confirms Mozal closure with loss of 4,000 jobs
SOUTH32 confirmed its Mozambique aluminium smelter Mozal will be put on care and maintenance next month amid last minute efforts by local authorities to deliver a price for…
South32 will close Mozal in March amid talk of last ditch rescue
SOUTH32 does not see a way back for its Mozal aluminium smelter which is expected to close in March, sources familiar with the company’s thinking say. This is despite reports the…
Pressure on Eskom as South32’s Mozal edges towards closure
PRESSURE on Eskom, South Africa’s main electricity supplier, to come up with more affordable power tariffs for more of its industrial customers has intensified after South32 said…
South32 open to more portfolio changes, says new chair
SOUTH32 chair Karen Wood will retire early next year after six years in the role, with mining veteran and former Anglo American CFO Stephen Pearce set to lead the West Australian…
South32 draws blank on Mozambique smelter talks
SOUTH32 said it had drawn a blank with the Mozambican government regarding the future of the 370,000 tons a year Mozal aluminium smelter. The miner announced in August it would…
South32 warns no way back for Mozal after March shuttering
SOUTH32 was “ready and willing” to resume discussions on a new power tariff for its Mozal aluminium smelter scheduled to close in March, but it also warned the facility would not…
Are banks becoming coal-curious? Mike Teke thinks so
ONE sign coal’s reputation is being gradually rehabiliated is that banks and insurers are becoming interested in the the mineral again. “I think people are reviewing their…