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South32 Provides Sierra Gorda Transaction Update

25 Nov 2021  |  09:43:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Sierra Gorda Transaction Update

South32 advised 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 it announced that it had entered into binding conditional agreements with Sumitomo Metal Mining and Sumitomo (collectively Sumitomo) to acquire a 45% interest in Sierra Gorda (the Transaction). The completion of the transaction is expected in early calendar year 2022 subject to the satisfaction of the remaining conditions.

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