Sierra Gorda Transaction Update

RNS Number : 5736T

South32 Limited

25 November 2021

 

South32 Limited (Incorporated in Australia under the Corporations Act 2001 (Cth)) (ACN 093 732 597) ASX / LSE / JSE Share Code:  S32 ADR: SOUHY  ISIN:  AU000000S320 south32.net

25 November 2021

SIERRA GORDA TRANSACTION UPDATE

South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (South32) advises that KGHM Polska Miedz (KGHM) has not exercised its pre-emptive rights to increase its shareholding in the Sierra Gorda copper mine in Chile
(Sierra Gorda). On 14 October 2021 we announced we had entered into binding conditional agreements with Sumitomo Metal Mining and Sumitomo Corporation (collectively Sumitomo) to acquire a 45% interest in Sierra Gorda (the Transaction)[1]. Completion of the transaction is expected in early calendar year 2022 subject to the satisfaction of the remaining conditions.   

About us

South32 is a globally diversified mining and metals company. Our purpose is to make a difference by developing natural resources, improving people's lives now and for generations to come. We are trusted by our owners and partners to realise the potential of their resources. We produce bauxite, alumina, aluminium, metallurgical coal, manganese, nickel, silver, lead and zinc at our operations in Australia, Southern Africa and South America. With a focus on growing our base metals exposure, we also have two development options in North America and several partnerships with junior explorers around the world.

Investor Relations
Alex Volante T  [phone] M  [phone] E  [e-mail]	Tom Gallop T    [phone] M   [phone] E  [e-mail]
Media Relations
Miles Godfrey M  [phone] E  [e-mail]	Jenny White T    [phone] M  [phone] E  [e-mail]

Further information on South32 can be found at www.south32.net .

Approved for release by Graham Kerr, Chief Executive Officer
JSE Sponsor:  UBS South Africa (Pty) Ltd
25 November 2021

 

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[1] Refer to market release "South32 to acquire a 45% interest in the Sierra Gorda copper mine" dated 14 October 2021.

 

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