The U.S. miner said the sale is part of a strategy to divest non-core assets and focus on supplying iron ore pellets to the North American steel industry.
There are a number of challenges South32 is likely to face, including potential Black Economic Empowerment ownership concessions and power price hikes.
The Great Barrier Reef is at risk of permanent damage should huge coalmining and a port development in Queensland go ahead, scientists say in a new report.