South32 finalising preferred list of coal mine bidders

The complete preferred list of bidders for South32’s energy coal interests is still being finalised, South32 CEO Graham Kerr told Mining Weekly Online on Thursday, when he also provided three reasons why the company’s Australian manganese operations are doing better than its South African manganese operations, and also commented on the steps that his group's aluminium smelters have taken to offer resilience to Eskom's load-shedding programme. Good operating results and high commodity prices helped to improve South32’s earnings to shareholders in the six months to December 31, when underlying earnings rose 18% to $642-million, cash flow from operations hit the $718-million mark and the half year closed with the company sitting on $638-million worth of net cash.