South32 presents to investors in Perth

Company News

by Kathy Skantzos

The executive management team of mining and metals company South32 (ASX:S32) will meet with equity analysts and investors today in Perth to discuss its strategy and operational performance.

Chief Executive Officer Graham Kerr, who will speak at the event, said the investor day provides another opportunity to reiterate the core elements of the business’ strategy, following on from its AGM two weeks ago.

The executive team will give an update on strategy and business, market performance, an operations update, cash flow performance, and new opportunities identified.

The company is expecting capital expenditure of US$470 million in FY2018 compared to prior expectations of US$500 million, with the reduction associated with the deferral of underground development at Appin.

Saleable coal production at the Illawarra mine will be ramped up and weighted in the second half of FY2018, and the Appin colliery is expected to return to production in the December 2018 quarter.

Shares in South32 (ASX:S32) are trading 4.91 per cent higher to $3.42.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.