South32 JV mine closure extended

Company News

South32 Limited (ASX:S32) has announced the extended closure of the Samancor Manganese joint venture South African mines.
 
The miner advised that the joint venture’s South African mines will remain closed until the completion of an ongoing strategic review.
 
Production was suspended following a fatality at the Mamatwan mine on 2 November 2015. Mining activity is forecast to recommence in January 2016.
 
South32 acknowledged that production will be significantly impacted in the 2016 financial year, but noted that rail and customer commitments will be met by drawing down inventory during this period.
 
South32 recorded a net loss of $1.19 billion at 30 June 2015.

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