Streetbeat News

SHTLF

South32 Limited

https://www.south32.net/

CEO

Graham Kerr

Industry

Dimension Stone Mining and Quarrying

Open

1.92

Mkt cap

11B

Volume

400

High

2.46

P/E Ratio

-17.57

52-wk high

2.65

Low

1.92

Div yield

0.01

52-wk low

1.78

South32 (OTC:SHTLF) shares dropped significantly after announcing an $818 million impairment charge for its alumina and nickel assets. The Worsley alumina project faces environmental challenges, leading to a $554 million impairment, while the Cerro Matoso nickel project saw a $264 million impairment due to market volatility and operational difficulties. Additionally, South32 reported a 14% decline in copper production. However, the company is progressing with the sale of its Australian coking coal assets to a consortium led by Golden Energy and Resources for $850 million.

Portfolio Pulse from Stjepan Kalinic

July 22, 2024 | 4:01 pm

South32's GEMCO shutdown due to cyclone damage has caused a significant supply shock in the manganese market, leading to a 33% price rally. The shutdown is expected to last until January 2025, affecting global supply and benefiting smaller miners like Jupiter Mines.

Portfolio Pulse from Stjepan Kalinic

June 13, 2024 | 2:57 pm

The U.S. military has allocated $15 million to fund Canadian mineral projects, focusing on essential resources like copper, gold, graphite, and cobalt. This investment aims to reduce dependency on China and secure a stable supply chain for critical minerals. Lomiko Metals Inc. (OTCQB:LMRMF) and Fortune Minerals Ltd (OTCQB:FTMDF) are among the grant recipients. Additionally, South32's Hermosa project in Arizona received $20 million to boost manganese production.

Portfolio Pulse from Stjepan Kalinic

May 27, 2024 | 4:17 pm

South32 Ltd, a mining company spun out of BHP Group, is interested in acquiring Anglo American's share of their jointly owned manganese assets. This move aligns with South32's strategy to expand its influence in the global metals market. BHP is also extending its bid for Anglo American, focusing on prized copper assets.

Portfolio Pulse from Stjepan Kalinic

May 23, 2024 | 6:35 pm

South32 Ltd (OTC:SHTLF), an Australian mining company, announced a $2.16 billion investment in the Hermosa project in Arizona, aiming to produce critical minerals zinc and manganese. This investment aligns with the Biden administration's clean energy vision and is expected to make Hermosa one of the world's largest zinc mines. Despite a recent 92% decrease in profits, South32 is optimistic about the global demand for zinc outpacing production by 2031.

Portfolio Pulse from Stjepan Kalinic

February 15, 2024 | 1:44 pm

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