Commodity prices have been worse than ASX-listed diversified mining company South32’s low-case scenario ever envisaged, said CEO Graham Kerr on Thursday. Reflecting on the company’s first anniversary since its spinoff from global major BHP Billiton last year, Kerr noted in an address to the Melbourne Club that “heading full pelt” into the worst global commodity downturn in decades was not part of the plan, though South32 had nevertheless managed to reduce net debt by $692-million.
