South32 announces job cuts, to run manganese mines at reduced rate

February 3, 2016

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Diversified spin-off South32 on Thursday announced a number of staff cuts in South Africa and Australia, as well as warning shareholders of a $1.7-billion noncash impairment charge for the half-year ended December.

CEO Graham Kerr told shareholders that the company had completed the strategic review of its South African manganese assets, and would implement specific measures to reposition the assets to ensure they were “appropriately structured” for the current commodities environment.

Category: General