South32 warns of R1.8bn in writedowns amid Covid-19 uncertainty

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South Africa Headlines News

Group temporarily mothballs manganese alloy smelter and faces restructuring and retrenchment costs

A sign adorns the building in which Australian miner South32 has its office in Perth, Western Australia. Picture: REUTERS/DAVID GRAY

The group, which has a market capitalisation of almost R124bn, said it expects to report the write-downs in its year to end-December, having decided to put its SA manganese alloy smelter, Metalloys, into temporary care and maintenance.

 

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