South32 Ltd - Perth-based diversified mining group - Its manganese producer, Groote Eylandt Mining Co Pty Ltd, has suspended operations due to Tropical Cyclone Megan. Notes that severe weather conditions continue to impact Groote Eylandt, and it is closely monitoring the situation. ‘Initial inspections indicate the cyclone has caused structural damage to the wharf. The full impact of the damage and subsequent disruption to production and sales volumes will be assessed when access to the port and other infrastructure is restored,’ South32 says. Groote Eylandt is located on an island in Australia’s Gulf of Carpentaria.
Current stock price in Sydney: A$3.14, up 4.7% on Monday
12-month change: down 22%
Stock price in London: 153.20 pence
12-month change: down 32%
Stock price in Johannesburg : R 36.65
12-month change: down 28%
Copyright 2024 Alliance News Ltd. All Rights Reserved.