Singapore consortium secures $850m for South32’s Australian coking coal
South32 said in February it had agreed to sell the business in New South Wales state for $1.65 billion.
* Japan’s Mitsubishi Materials Corp cut its sales estimate of copper cathode at its Indonesia copper smelting unit, PT Smelting, by 32,000 tonnes from its November forecast to 237,000 tonnes for the year ending March 31, a spokesman said on Wednesday. Sales were 263,000 tonnes a year earlier.
* The longer-than-expected maintenance late last year and slower ramp-up after the maintenance caused a reduction in copper cathode output by 26,000 tonnes, the spokesman said.
* The plant resumed partial operations in late December and returned to full operations in late January, he added.
* Mitsubishi Materials said in November that PT Smelting has declared force majeure on deliveries of products to some customers as maintenance at its plant had been extended due to a lack of supply from a neighbouring oxygen plant.
(By Yuka Obayashi)
