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South32 ( (AU:S32) ) has shared an announcement.
South32 Limited has announced a binding agreement to sell its Cerro Matoso nickel operation to CoreX Holding B.V., following a strategic review due to structural changes in the nickel market. This transaction aligns with South32’s strategy to streamline its portfolio towards higher-margin businesses in minerals and metals essential for energy transition, providing balance sheet flexibility for future investments in copper and zinc. The deal involves nominal consideration with future cash payments up to $100 million based on production and permitting milestones, and is expected to complete in late 2025, subject to conditions including international merger clearances.
The most recent analyst rating on (AU:S32) stock is a Hold with a A$1.90 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
More about South32
South32 Limited is a company that produces minerals and metals critical to the world’s energy transition, with operations across the Americas, Australia, and Southern Africa. The company focuses on developing natural resources and aims to create positive legacies and meaningful relationships with partners and communities.
YTD Price Performance: -6.81%
Average Trading Volume: 21,105,004
Technical Sentiment Signal: Hold
Current Market Cap: A$14.01B
For detailed information about S32 stock, go to TipRanks’ Stock Analysis page.