Company News Summary | 19 Jul 2018
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South32 Provides Quarterly Report for June 2018
08:40:00 | Associate analysts
Original annuncemenet:Quarterly Report June 2018
South32 provided quarterly report for June 2018. On 29 May the Company signed a conditional agreement to acquire a 50% interest in the Eagle Downs metallurgical coal project in the Bowen Basin, Qld for an upfront payment of US$106m (excluding transaction costs), a deferred payment of US$27m due three years after completion and a coal price linked production royalty which is capped at US$80m. It invested US$41.3m in exploration programs during FY 2018 (US$2.3m capitalised). This included US$1.2m for its Equity Accounted Investments (EAI, US$0.6m capitalised) and US$21.3m to expand its exploration footprint and progress 18 early stage greenfield partnerships.
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