Mining News

South32 warns of coal impairment, looks at options for Dendrobium

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Diversified miner South32 has warned of a $728-million pretax impairment charge for its Illawarra metallurgical coal operations for the 2021 financial year, following a review over the asset’s carrying value.

The miner told shareholders that the impairment charge reflected the increased approval uncertainty created by the New South Wales Independent Planning Commission’s (IPC) decision to refuse the application for the Dendrobium Next Domain life extension project, and the resultant potential impacts on the economics of the broader Illawarra complex.

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