- Published: Monday, 07 March 2016 10:50
- Written by E&MJ News
South32 Ltd. recently announced the results of its South Africa Manganese strategic review and its intention to substantially reduce cash costs at a number of operations. Citing poor forecasts for commodity demand and prices, South32 said it expects to take a pre-tax, non-cash impairment of $1.7 billion when it reports its December 2015 half-year financial results. Most of that relates to the Australia Manganese and South Africa Energy Coal divisions—$900 million and $400 million, respectively.