Australian South32 to sell Illawarra Metallurgical Coal
Time:Thu, 07 Mar 2024 09:31:04 +0800
keywords :
South32, a mining and metals company headquartered in Australia, announced that it has agreed to use about US1.65 billion to sell its Illawarra Metallurgical Coal (IMC) to an entity owned by Golden Energy and Resources Pte Ltd (GEAR) and M Resources Pty Ltd. The sales were expected to be completed in the first half of the 2025 fiscal year.
South 32 said that the transaction aligns with their strategy to reshape the portfolio toward the critical commodities, which are important for the low-carbon transition.
