South32 flush with cash even after record dividend payout and copper mine acquisition

Diversified miner South32 says record aluminium prices helped it end its third quarter to end-March with a net cash pile, even though it paid out its highest-ever dividend during the period, while also forking out $1.4bn for a stake in a copper mine in Chile.

The group, which recently paid out a record $404m in dividends for its half-year to end-December, said it ended its March quarter with $52m in net cash, from almost $1bn at its half-year. It has, however, now reported its first production of copper, having picked up a 45% stake in the Sierra Gorda copper mine in Chile...

United States United States Latest News, United States United States Headlines

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

South32 flush with cash even after record dividend payout and copper mine acquisitionThe group ended its third quarter with $52m in net cash, from almost $1bn previously, having paid $1.4bn for a copper mine and $404m in dividends
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Copper to Iron Ore Rebound as China Vows to Support EconomyIndustrial metals from copper to iron ore recouped some of Monday’s losses after China pledged more support to help revive an economy that’s been imperiled by an escalating virus outbreak.
Source: dailymaverick - 🏆 3. / 84 Read more »