South32 will not proceed with ~ US$700M investment in Australian coal project

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

The company said that while its work on the project demonstrated the potential to meaningfully extend the life of the Dendrobium mine, expected returns from the ~US$700M up-front capital expenditure estimate are not sufficient to support an investment relative to alternatives considered for the complex.

CEO Graham Kerr commented, "Our decision today follows an extensive analysis of the alternatives for Dendrobium together with the anticipated returns from the up-front capital investment which would be required.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Santa’s House set to move from Victoria Park next week, London, Ont. charity says - London | Globalnews.caThe house will be dismantled and transported next week to its new home outside of Covent Garden Market, where it will be used as a year-round structure. I want to live there! It’s tiny like me!
Source: GlobalNational - 🏆 81. / 51 Read more »