SOUTH32: Sale of Illawarra Metallurgical Coal – Update

South32 Limited advises that BlueScope Steel (AIS) Proprietary Limited has waived its pre-emptive right in respect of the sale of Illawarra Metallurgical Coal (Transaction) to an entity owned by Golden Energy and Resources Pte Ltd and M Resources Pty Ltd1.

The Transaction remains on track to be completed in H1 FY25, subject to the satisfaction of the remaining conditions including Foreign Investment Review Board approval.

South32 is a globally diversified mining and metals company, developing natural resources, and producing commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from our operations in Australia, Southern Africa and South America. South32 also have a portfolio of high-quality development  projects and options, and exploration prospects, consistent with its strategy to reshape its portfolio toward commodities that are critical for a low-carbon future.