|Bid||2.4500 x 0|
|Ask||2.3300 x 0|
|Day's Range||2.4400 - 2.5600|
|52 Week Range||2.4400 - 4.2800|
|Beta (3Y Monthly)||0.57|
|PE Ratio (TTM)||32.37|
|Earnings Date||Aug 23, 2019|
|Forward Dividend & Yield||0.08 (5.47%)|
|1y Target Est||2.76|
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
Australian miner South32 said it was in “exclusive talks” to sell its South African coal mines to local miner Seriti Resources. The offer includes a “modest” up-front cash payment with a deferred payment mechanism to allow both companies to share in any coal price increase, the Australian miner said. The world’s largest mining companies are under growing pressure to sell their thermal coal assets because of coal’s contribution to global warming.
Australian miner South32 Ltd reported a bigger-than-expected 25% drop in annual profit as the trade war between China and the United States hurt aluminium prices, sending its shares lower by as much as 5.8% on Thursday. South32 also said it was in talks to sell its South Africa thermal coal business to Johannesburg-based Seriti Resources, the latest company to get out of energy coal at a time when investor pressure and climate change concerns are prompting businesses to limit their exposure to fossil fuels.
(Bloomberg) -- Seriti Resources, a South African mining company, won a bid to acquire South32 Ltd.’s thermal-coal assets in the country, according to two people familiar with the process.Final offers were in a range of $300 million to $350 million, according to one of the people, who asked not to be identified because the information isn’t public.South32 started a search last year for buyers of its South Africa Energy Coal unit, the country’s third-biggest exporter of the fuel. Seriti, led by Mike Teke, the ex-chairman of the Richards Bay Coal Terminal, was the top bidder in the process, the people said.When the sale is completed, the assets will add to coal mines Seriti bought from Anglo American Plc and increase its ranking as one of the largest miners of the fuel in South Africa. Teke is showing progress in his plans to build a massive black-owned mining company as Anglo and South32 have taken steps to divest from some thermal-coal operations in South Africa.Teke declined to comment on the bid process, a spokeswoman for Seriti said by email. South32 didn’t immediately respond to emails seeking comment. The transaction is still subject to approval from regulatory authorities.The price of coal at South Africa’s port of Richards Bay, where the fuel is exported, has dropped 38% this year.South32’s energy coal unit includes four coal-mining operations and three processing plants that supply domestic and export markets, according to the company’s website. Wescoal Holdings Ltd. and Canyon Coal with partner Mercuria Energy Group Ltd. were also bidding in June, people familiar with the process said at the time.(Updates with coal price decline in sixth paragraph)To contact the reporters on this story: Loni Prinsloo in Johannesburg at email@example.com;Paul Burkhardt in Johannesburg at firstname.lastname@example.orgTo contact the editors responsible for this story: James Herron at email@example.com, Rene Vollgraaff, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of South32 Limited and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But in contrast you can make much more than 100% if the company does well. For example, the South32 Limited (ASX:S32) share pric...
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! In December 2018, South32 Limited (ASX:S32) released its earnings update. Generally...
It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be remiss not to mention that insider sales haveRead More...
Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull”) is pleased to provide a corporate update on the Sierra Mojada project and announce the imminent start of an 8,000 meter surface drill program to target a series of the sulphide extension at depth of the main deposit already defined at Sierra Mojada as well as a series of never before tested targets within the wider area. The start of this drill program caps off an extremely successful 2018 for Silver Bull which was marked by a number of key milestones. South32 Joint Venture Option: In June 2018 Silver Bull signed an agreement with a wholly owned subsidiary of South32 Limited (ASX/JSE/LSE: S32) (“South32”) whereby Silver Bull has granted South32 an option to form a 70/30 joint venture with respect to the Sierra Mojada Project.
JOHANNESBURG/LONDON (Reuters) - South African utility Eskom imposed the worst power cuts in several years on homes and businesses last week, conjuring up memories of the 2008 crisis when the grid nearly collapsed and cost the mining industry billions in lost output. Although Eskom - which supplies around 90 percent of power in Africa's most industrialized economy - paused the blackouts on Friday for the first time in five days, it warned that its creaking infrastructure could buckle at any time. It is not clear how much the industry, which consumes about 15 percent of Eskom’s annual output, lost in production but the crisis sent prices of both gold and platinum to record levels and pummelled the rand.
JOHANNESBURG/LONDON, Feb 18 (Reuters) - South African utility Eskom imposed the worst power cuts in several years on homes and businesses last week, conjuring up memories of the 2008 crisis when the grid nearly collapsed and cost the mining industry billions in lost output. Although Eskom - which supplies around 90 percent of power in Africa's most industrialised economy - paused the blackouts on Friday for the first time in five days, it warned that its creaking infrastructure could buckle at any time. It is not clear how much the industry, which consumes about 15 percent of Eskom’s annual output, lost in production but the crisis sent prices of both gold and platinum to record levels and pummelled the rand.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! While some investors are already well versedRead More...
Floods in Australia's Queensland state are set to disrupt the rail delivery of zinc exports to the northern port of Townsville, with the line likely to be out of action for at least a month, analysts said on Wednesday. The 1,000 km (620 mile) rail line is used by miners including Glencore, MMG Ltd and South 32 to carry zinc and lead concentrate from the Mt Isa region, with at least one miner eyeing more expensive trucking. Flooding rain raked the northern Queensland coast last week, before sweeping inland and submerging vast tracts of outback under record-breaking depths of muddy water.