Arizona mine to cause $1.3bn hit to South32

Operations at the Taylor sulphide deposit in Hermosa have been affected by operational hazards and Covid-19 bars, the company says

South32's manganese operations. Picture: SUPPLIED

Mining at South32’s Taylor sulphide deposit in Hermosa has been affected by operational hazards as well as restrictions due to the Covid-19 pandemic. “We are disappointed by the delays resulting from the impact of Covid-19, the significant dewatering requirements and current inflationary market conditions,” said CEO Graham Kerr.

“Investors will soon begin to lose patience with South32, with shares marginally gaining over the last five years and well underperforming the broader materials sector,” added Josh.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Aveng warns investors of more pain after Southeast Asia gas project setbackDelayed Batangas LNG project is expected to report a total operating loss of R1.3bn
Read more »

SA golf legend Ernie Els slams PGA Tour over merger with 'circus golf' LIV | SportLegendary South African golfer Ernie Els has hit out at the PGA Tour over the decision to merge their commercial operations with LIV Golf. | Sport24news
Read more »

Sewer gas suspected to be cause of Joburg explosionHuman rights lawyer Richard Spoor believes sewer gas is the cause of the Johannesburg CBD explosion.
Read more »

'Illegal mining did not cause the Joburg explosion'- City Manager'IllegalMining did not cause the JoburgExplosion'- City Manager Floyd Brink said their investigation shows that no humans live in the tunnels that run in the belly of the CBD Report: PatBambalele JoburgCBD JoziExplosion BreeStreetExplosion
Read more »

Load shedding: more take-aways, non-perishables bought online | The Citizen⚡🍔 Loadshedding is pushing consumers to adapt their food habits! 😓🍲 Due to power outages, people resort to more take-away food, stocking up on non-perishables instead of fresh items, and buying food online. 🍱📲 Read the story ⬇️
Read more »