PIC OF THE DAY: Big truck

The miner also announced internally that it will no longer enter into long-term deals to buy commodities that it doesn’t already produce.

Wealthy Australians are emerging as an important pool of capital for financing coal projects shunned by banks.

Amplats also said it had cut some 3,700 jobs to reduce spending ahead of the demerger.

South32 said in February it had agreed to sell the business in New South Wales state for $1.65 billion.