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Eskom and South32 sign power supply deal for Hillside smelter
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Investegate |South32 Limited Announcements | South32 Limited: Quarterly Report June 2021
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Strong operating performance across the portfolio during the quarter combined with improving prices for most of our commodities saw our net cash position increase to US$517 million. During the period we returned US$90 million to our shareholders via our on-market share buy-back bringing total returns under our capital management program to US$1.5 billion. We set year to date production records at Brazil Alumina and Australia Manganese. We increased our production guidance for South Africa Manganese as we continue to respond to market conditions and at Cannington off the back of continued strong underground performance. Having successfully completed a major furnace refurbishment at Cerro Matoso, we approved further investment in a new project that will lift future nickel production.
EXPRESSION OF INTEREST: Hillside driving services – 042021
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Emerging coal changes poised to present new electricity price risk
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JOHANNESBURG (miningweekly.com) – South Africa’s emerging coal mining changes are poised to present new electricity price risk as the Treasury and Eskom are called upon to release companies from their contractual coal-supply obligations.
An example of this is Treasury being asked to authorise the higher payment to Seriti Resources than Eskom must pay for coal in terms of its contractual arrangement with South32.