TIDMS32
RNS Number : 0559Y
South32 Limited
04 September 2020
South32 Limited
(Incorporated in Australia under the Corporations Act 2001
(Cth))
(ACN 093 732 597)
ASX / LSE / JSE Share Code: S32 ADR: SOUHY
ISIN: AU000000S320
4 September 2020
2020 ANNUAL REPORT
South32 Limited (ASX, JSE, LSE: S32; ADR: SOUHY) (South32)
advises that the following documents have today been submitted to
the National Storage Mechanism and will shortly be available for
inspection at: www.morningstar.co.uk/uk/NSM.
-- 2020 Annual Report
-- 2020 Corporate Governance Statement
-- Appendix 4G: Key to Disclosures - Corporate Governance
Council Principles & Recommendations
These documents may be accessed via South32's website:
https://www.south32.net/investors-media/investor-centre/annual-reporting-suite
or www.south32.net
Additional information
The following information is extracted from the 2020 Annual
Report (page references are to pages in the Annual Report) and
should be read in conjunction with South32's Financial Results and
Outlook for the year ended 30 June 2020 announcement issued on 20
August 2020. Both documents can be found at www.south32.net and
together constitute the material required by DTR 6.3.5 to be
communicated to the media in unedited full text through a
Regulatory Information Service. This material is not a substitute
for reading the 2020 Annual Report in full.
1. Principal risks and uncertainties
Risk management
Our approach to risk management is governed by our risk
management framework, which has been in place since the inception
of our company in 2015. The minimum mandatory requirements for the
management of risks that have a material impact on our purpose,
strategy and business plans are defined in our material risk
management standard.
The framework and the standard are delivered through the System
of Risk Management which is aligned to the principles of the
International Standard for Risk Management AS/NZS ISO 31000:2018.
This approach applies to all employees, Directors and contractors
of the company and its subsidiaries. Our risks are regularly
assessed and managed at both a company-wide strategic level and at
a material tactical level for operations, functions and
projects.
Material risks
Our System of Risk Management and assurance processes are based
on the three lines of defence model and aim at managing our
material risks. It enables us to:
- Provide stable and consistent processes, tools and routines to
identify and regularly assess the most impactful risks and
opportunities;
- Ensure predictable outcomes and prevent unforeseen events with
material impacts;
- Ensure risks are well understood and managed at all levels of
the organisation; and
- Eliminate risks where appropriate or improve our processes
using a risk based approach.
Risks assessed as material are routinely reported to the South32
Lead Team and reviewed by the Risk and Audit Committee as well as
the Sustainability Committee; assisting the Board to carry out its
role in overseeing our risk management and assurance practices. Our
reliance on data that supports the management of our material risks
has been significantly improved, with the introduction of our new
risk management tool, Global360.
This software connects data relating to the management of our
risks, events, hazards and assurance actions, providing
transparency of real-time status of our risks and controls and
improving our rate of decision-making and responses. Aside from
helping us manage our operations and functions, reliable data on
material risks significantly contributes towards the management of
our strategic risks. This provides insight into trends and emerging
themes that can trigger a review of our business plans or inform a
change in strategic direction.
Strategic risks
Our strategic risks and associated management response are
evaluated every year. The review process is informed by external
and internal events that could have a potential impact on our
organisation, as well as emerging themes across our material risks.
In FY20, we identified 13 strategic exposures that could influence
our plans and the sustainability of our business. With the
interruption of COVID-19 we have focused our response on three key
areas - keeping our people safe and well, maintaining safe and
reliable operations, and supporting our communities, all of which
are critical to protecting the future of our business.
Ensuring that our people go home safe and well
Strategic Risk: A safe and healthy working environment is
fundamental to living our values.
Opportunities: Ensuring that our people go home safe and well
drives the culture we aspire to and meets societal expectations, as
well as our expectations of each other.
Threats: The impact of not having a safe working environment can
be devastating for our employees, contractors and communities. It
can alter lives, impact shareholder returns, stakeholder confidence
and ultimately our licence to operate.
Our response:
-- In everything we do, we focus on the health and safety of our people,
contractors and communities;
-- We have a system of risk management, comprehensive health and safety
policies, systems and standards with associated performance requirements
designed to prevent and mitigate potential exposure to health and safety
risks;
-- We engage, develop and train our people to ensure our work is well designed
and executed;
-- We investigate actual and potential significant events, put controls
in place, and share our learnings across the organisation - so that
everyone can benefit;
-- We continuously improve our work environment to make it safer and more
productive for our people; and
-- We have an independent assurance function that reviews our risk register
and the associated controls, to test how effective they are.
Actions by government, political risks and/or tax
authorities
Strategic Risk: When changes in legislation, regulation and/or
policy impact our strategic goals and the way we work, we aim to
effectively manage this uncertainty.
This includes uncertainty surrounding direct and indirect taxes,
and royalties where we operate, as well as around broader policy
decisions and regulatory changes, relating but not limited to:
-- Nationalisation of mineral resources;
-- Renegotiation or nullification of contracts;
-- Leases, permits or agreements; and
-- Environmental performance.
Opportunities: Proactive engagement leading to strong
relationships with governments provides mutual understanding of
drivers for decision-making. This increases clarity around policy
and regulatory environments, enables appropriate and tailored
responses to issues, and provides investment certainty.
Threats: Legislation adverse to our business and regulatory or
policy decisions taken by governments can result in operational
disruption, affect future planning or in extreme cases lead to
cessation of operations.
Our response:
-- We have the specialised knowledge we need through employment or consulting,
including tax management capability, tax advice, and external relations
advice;
-- We monitor political activity in all jurisdictions we operate in;
-- We engage with our key stakeholders in all jurisdictions where we operate
and identify them through active mapping and developing engagement plans;
-- We work through selected industry associations to influence how the
industry is positioned;
-- We monitor policy, legislative and regulatory changes and we also engage
with relevant authorities; and
-- We produce an annual Tax Transparency and Payments to Governments Report,
which shows how we meet our regulatory tax obligations.
Portfolio composition
Strategic Risk: Our objective is to outperform by offering our
shareholders exposure to high-quality operations in commodities
with a strong and sustainable outlook, in jurisdictions where we
believe we can operate into the future - in line with our
values.
Opportunities: We invest for value in our preferred commodities
and jurisdictions. We do this by progressing our internal
development options, by acquiring exploration opportunities,
development projects or existing operations and by divesting
non-preferred exposures that we believe will not generate an
acceptable shareholder return.
Threats: If we don't invest in a disciplined way or divest
non-preferred exposures for value, we could reduce shareholder
returns. Climate change, and the transition to a low-carbon
economy, may present both risks and opportunities for our portfolio
commodity composition. This is discussed under 'Climate change
resilience' on page 30.
Our response:
-- We keep our strategy front of mind as it informs the decisions we make
about portfolio composition. We formally evaluate our strategic positioning
annually with the Board and provide updates throughout the year;
-- We have a dedicated greenfields exploration team focused on building
a pipeline of low-cost, high-quality resource development options;
-- We apply a rigorously developed and independently verified Commodity
Price Protocol (CPP) process, to develop long-term views for our portfolio
commodities and foreign exchange rates for the jurisdictions we operate
in;
-- We maintain a life of operations planning process. By evaluating the
embedded options in our operations, we can progress with organic options
at the right time;
-- We follow strong due diligence processes for acquisitions and new business
ventures;
-- We apply a standardised valuation methodology with consistent key macroeconomic
assumptions;
-- We have a mature and independent peer review process, which we rigorously
follow to inform key investment decisions; and
-- We actively manage portfolio change with dedicated specialists to deliver
integration and separation benefits.
Global economic uncertainty, volatility and liquidity
Strategic Risk: Our aim is to manage risks related to uncertain
and changing macroeconomic conditions. We do the same when it comes
to the volatility in commodity, currency and debt capital markets,
given how much they can impact our earnings, balance sheet and
growth goals.
Opportunities: We retain a strong balance sheet, investment
grade credit rating and capital discipline to enhance our
resilience through economic cycles. This approach also provides
greater financial flexibility when market conditions are
favourable, which in turn allows us to create strong competition
for capital. By investing selectively in our existing operations
and growth opportunities, or increasing returns to shareholders we
aim to maximise total shareholder returns over time.
Threats: A significant deterioration in economic conditions,
market demand and falling commodity prices, and/or an adverse
movement in exchange rates has the potential to significantly
reduce profitability, cash flow and total shareholder returns.
Our response:
-- Our diverse portfolio strengthens our resilience to the disruption of
any one commodity, geography or operation;
-- We prioritise a strong balance sheet and an investment grade credit
rating, so that we remain in control through economic cycles;
-- We test our financial strength across a range of scenarios, including
a depressed demand and pricing environment. We also maintain a minimum
liquidity buffer;
-- We adjust our capital management plans according to market conditions;
-- We maintain strong relationships with high-quality customers and suppliers
from all around the world;
-- We mostly sell our products with reference to floating, market-based
prices, which are broadly inversely correlated with floating global
currency markets and the input costs we're exposed to; and
-- We carry out an annual review of commodity prices, which we use to inform
our operational plans.
Unexpected major events or natural catastrophes
Strategic Risk: Our operations and transport networks can be
disrupted by events such as pandemics, unexpected natural disasters
or major process failures.
Opportunities: Delivering an outstanding performance in health,
safety, environment and communities enhances our operational and
business resilience.
Threats: Failure to manage major unexpected events or natural
catastrophes could result in a significant event or other long-term
damage that could harm the Group ' s financial performance and/or
licence to operate. The role of climate change in increasing the
frequency and/or severity of natural catastrophes is also addressed
under 'Climate change resilience' on page 30.
Our response:
-- When facing potential catastrophes, we put safety and wellbeing at the
heart of everything we do;
-- We use a strong system of risk management in design, construction and
operation phases, to analyse risks and design plans that prevent or
limit business impacts;
-- We have business continuity and disaster recovery plans in place with
trigger action response scenarios. We've tested these to make sure we
can respond rapidly to major events and safely restore our operations
and protect the health of people and the communities in which we operate;
-- We have governance functions independent of the operations that provide
assurance against our own comprehensive internal standards including
equipment integrity, tailings dams management and technical stewardship;
-- We maintain insurance against many, but not all, potential losses or
liabilities arising from operating risks (this may not fully cover all
financial losses); and
-- We work with external experts, relevant industry bodies and technology
suppliers, to provide additional assurance and input.
Key talent identification, attraction and retention
Strategic Risk: Our ability to identify, attract and retain key
talent and develop capabilities is fundamental to delivering our
strategic priorities.
Opportunities: Defined talent management processes can help lift
performance and better enable us to deliver on our strategy.
Threats: Failure to manage talent and develop the right
capabilities within our business can ultimately erode shareholder
value.
Our response:
-- We focus on enhancing our offering to employees and potential employees
to distinguish ourselves in the market through effective approaches
to talent and recruitment management, remuneration, skills development
and succession planning;
-- We continually seek ways to better engage and empower our workforce,
including leading flexibility policies and a focus on ensuring we maintain
an inclusive workplace;
-- Our dedication to 'making a difference' inspires our people;
-- We identify key talent and provide them with experience and growth through
time in critical roles;
-- Our strategic planning process identifies capability requirements for
the future;
-- We work to strengthen our reputation and status in the community as
an employer of choice through community engagement programs; and
-- We continue to improve our long-term workforce planning and talent management
program across the organisation.
Evolving culture of the organisation
Strategic Risk: We recognise the value of a strong culture as a
critical enabler to how we deliver our purpose and strategy.
Opportunities: Proactively and deliberately shaping our culture
will help us to deliver on our purpose and strategy while being
guided by our values.
Threats: A misaligned culture can result in organisational
underperformance, and financial and reputational damage.
Our response:
-- We are working to better understand the gap between what our culture
is and what we want it to be - and to have a clear approach to help
us close any gaps;
-- We continue to develop an inclusive and diverse workplace where our
people reflect the countries and communities in which we operate;
-- Our Board monitors and assesses culture through Operation visits; staff
engagements; endorsement and tracking of inclusion and diversity metrics,
employee engagement results, and Speak Up data;
-- We are making sure our ways of working (systems, symbols and behaviours)
are aligned to our aspired culture; and
-- We identify and deploy effecti ve levers to deliberately shape our culture
in an ever-evolving world.
Predictable operational performance
Strategic Risk: Predictable operational performance improves our
ability to keep our people safe, meet our regulatory and social
obligations, reliably provide quality products to our customers and
deliver shareholder returns.
Opportunities: We mature our operating system to control the
operations and processes that deliver value. We spend capital
annually to sustain our production capacity to create value and we
invest in high-return projects and improve the reliability of our
production capability.
Threats: If we can't safely achieve our production targets and
mitigate rising unit costs, it will impact directly on our profits
and cash flow, as well as our ability to meet our commitments to
our stakeholders.
Our response:
-- We carry out rigorous quality assurance programs over our operations,
marketing and logistics;
-- We review our asset health and integrity on a regular basis;
-- We reconcile the performance of our Mineral Resource and Ore Reserve
quality against production on an annual basis;
-- We carry out rigorous modelling and reviews of our geotechnical drilling
data;
-- We operate within target inventory operating windows and regularly review
our internal scheduling and operational planning;
-- We monitor raw material supply contracts and implement early detection
procedures at load ports;
-- We utilise long-term and short-term planning, scheduling and verification
processes;
-- We carry out operational resource planning and regularly review our
productivity metrics;
-- We apply structured work design processes for critical or high value
tasks; and
-- We apply verification systems to ensure we're compliant with work standards
.
Maintain competitiveness through innovation and technology
Strategic Risk: Technology and innovation are advancing at a
rapid pace. Companies who are unable to effectively leverage
technology and innovation will find themselves falling behind in
shareholder returns.
Opportunities: To stay competitive, we will position our
organisation to effectively identify, adopt and sustain technology
and innovation that delivers shareholder returns.
Threats: Failure to keep pace with and leverage, advances in
technology could result in reduced shareholder returns. Cyber
security incidents could pose multiple risks including disruption
to operations, theft, disclosure or corruption of information.
Our response:
-- We are continuously improving our approach to innovation, improvement
and technology;
-- We are delivering specific programs focused on adoption and improvement
of critical technology capabilities across multiple time horizons including
cyber security, data science, automation and mobility;
-- We have a clear, value-based, 'portfolio' approach to testing and scaling
up innovation across the group;
-- We have rigorous internal standards and processes (technology 'ways
of working');
-- We benchmark our digital operations' performance against industry best
practice and have organised the coordination and integration of technology
advances into South32's growth portfolio;
-- We actively manage cyber security and data centre risks through our
system of risk management and have increased our cyber security controls
in response to COVID-19 and an increase in remote working;
-- We monitor customer satisfaction and manage customer support; and
-- We follow a rigorous assurance process for our approach to innovation,
improvement and technology.
Security of supply of logistics chain and critical services
Strategic Risk: Together with our customers and suppliers we
manage the inbound and outbound supply chains. Critical categories
include raw materials, energy, water, gas, heavy mobile equipment,
tyres and logistics (which includes road, rail, air and
shipping).
Opportunities: By securing commercially competitive terms, we
capitalise on market opportunities while supporting the safe and
reliable performance of our operations.
Threats: Failure to secure commercially acceptable terms could
disrupt our operations, increase operating costs and damage our
reputation. Pandemic has potential to disrupt in and out bound
supply chains. Climate change has potential to increase frequency
and/or severity of extreme weather events which may threaten our
supply chain, logistics and critical services. This is addressed
under 'Climate change resilience' on page 30.
Our response:
-- We have a business continuity plan that ensures we optimise existing
supply chains and identify alternate sources for critical supplies;
-- We build strong strategic partnerships with Tier 1 suppliers on a long-term,
mutually beneficial basis;
-- We have a clearly defined transformation strategy and enterprise and
supplier development program in South Africa aimed at building and growing
small and medium enterprises; and
-- We actively review and manage payment terms to support small and local
businesses in all jurisdictions.
Maintain, realise or enhance the value of our resources and
reserves
Strategic Risk: We exist to realise the potential of the
resources and reserves we are entrusted to develop.
We work to continually optimise our operations through sound
technical and economic understanding of our resources and
reserves.
Opportunities: We continue to enhance our understanding of our
resources and reserves. We leverage this enhanced understanding
through the annual business planning cycle to investigate
additional opportunities to add value to our business.
Threats: If we fail to continually optimise our operations and
projects, it will have a significant impact on shareholder returns
and ultimately, the sustainability of the company.
Our response:
-- We report Mineral Resources and Ore Reserves (including Coal Resources
and Coal Reserves) in accordance with the JORC Code as required in Chapter
5 of the ASX Listing Rules;
-- We apply an annual business planning standard and process, structured
to maximise value throughout the life of our operations;
-- Our capital prioritisation, capital allocation and planning processes
prioritise the highest-value options across our portfolio;
-- We apply a rigorous project development process that includes independent
peer review of project risks and approval tollgates; and
-- Our closure standard ensures that our full-life-of-operations value
incorporates closure and rehabilitation liabilities.
Climate change resilience
Strategic Risk: South32 has been actively addressing risks
associated with climate change for several years. By using climate
change scenarios, we can identify opportunities and threats to our
portfolio and operations.
We assess these risks through a framework that includes policy,
market and physical factors.
Opportunities: We regularly assess our customer and broader
stakeholder preferences, as well as developments in policy and
competitive technologies, to ensure our products remain in demand
and resilient. Our pipeline of development options and exploration
programs include commodities with a favourable outlook in a low
carbon future, with a bias to base metals.
Threats: Failure to build the resilience of our business to the
physical impacts of climate change, reduce our emissions and
respond to changes in policy and technology could negatively impact
our supply chain, business continuity and access to key inputs
(such as water), our communities, costs, legal exposure, demand for
our products, stakeholder confidence and ultimately shareholder
returns. Refer to related risks of 'Security of supply of logistics
chain and critical services', 'Unexpected major events or natural
catastrophes' and 'Portfolio composition'.
Our response:
-- We seek to understand our portfolio performance in a range of future
climate scenarios, considering both opportunities and threats;
-- We identify potential controls in the short, medium and long-term to
improve the climate change resilience of our portfolio;
-- We support the Paris Agreement objectives and are committed to achieving
net zero carbon emissions by 2050;
-- We identify and implement greenhouse gas reduction projects and energy
planning, with our emissions reduction targets linked to remuneration;
-- We use climate modelling data to inform us of the level of risk to our
operational plans;
-- We prioritise our land management efforts to improve resilience, including
minimising land disturbance and maximising rehabilitation efforts; and
-- We're transparent in our disclosure of climate change-related opportunities
and threats in our annual reporting, which is aligned to the recommendations
of the Task Force on Climate-related Financial Disclosure. Further details
on this risk and its management is detailed in our Sustainable Development
Report.
Evolving stakeholder expectations
Strategic Risk: There are evolving expectations of mining and
metals companies by employees, government, investors, lenders, host
communities and broader society. Our stakeholders may have
divergent views and wants.
We actively engage our stakeholders to understand and respond to
their views and identify ways we can create social, environmental
and economic value.
Opportunities: We undertake proactive, collaborative and
transparent engagement with our stakeholders, to build
relationships based on trust and shared understanding. Our ongoing
licence to operate will be supported through recognition of our
contribution to our stakeholders and broader society.
Threats: Failure to achieve stakeholder support could damage our
reputation and negatively impact our licence to operate, limiting
our ability to grow our business in existing and new jurisdictions,
and impacting our ability to access funding for new or existing
operations.
Our response:
-- Our purpose and strategy expressly balance economic outcomes with social
and environmental outcomes, now and into the future. In the decisions
we take, we look to minimise impact and create enduring social, environmental
and economic value for all our stakeholders;
-- We undertake internal and external stakeholder analysis and engagement
on a wide range of financial, environmental, social and governance (ESG)
issues. Our approach is aligned with the ICMM Mining Principles and
Global Reporting Initiative Sustainability Reporting Standards;
-- We recognise that mineral resources are managed by governments on behalf
of their citizens. We proactively engage with governments to keep public
policymakers informed and we advocate for our positions. We monitor
policy and political developments;
-- We always aim to build strong, honest and meaningful relationships with
local communities, so that we're ready to listen to their concerns.
We regularly complete and review community perception surveys, social
baseline studies and impact and opportunity assessments;
-- We have a rigorous process to understand the expectations of our shareholders
on a wide range of issues informed by regular engagement; and
-- We transparently report on our risks, opportunities, regulatory obligations,
commitments and areas where we're working that are relevant to our stakeholders.
2. Related party transactions
Extract from Note 28 'Key management personnel', page 135 of the
2020 Annual Report
Key management personnel compensation
US$'000 FY20 FY19
Short-term employee benefits 5,759 6,504
------- -------
Post-employment benefits 192 224
------- -------
Other long-term benefits 268 285
------- -------
Termination benefits 316 -
------- -------
Share-based payments 6,664 6,154
------- -------
Total 13,199 13,167
------- -------
Transactions with key management personnel
There were no transactions with key management personnel during
the year ended 30 June 2020 (FY19: nil).
Loans to key management personnel
There were no loans with key management personnel during the
year ended 30 June 2020 (FY19: nil).
Transactions with key management personnel related entities
There were no transactions with entities controlled or jointly
controlled by key management personnel and there were no
outstanding amounts with those entities as at 30 June 2020 (FY19:
nil).
Extract from Note 29 'Related party transactions', page 136 of
the 2020 Annual Report
Transactions with related parties
Joint ventures Associates
US$'000 FY20 FY19 FY20 FY19
--------- -------- --------- --------
Sales of goods and services 205,880 232,472 3,126 2,711
--------- -------- --------- --------
Purchases of goods and services - 154 80,887 91,071
--------- -------- --------- --------
Interest income 7,814 7,544 197 956
--------- -------- --------- --------
Dividend income 348,664 535,505 - -
--------- -------- --------- --------
Interest expense 7,593 11,404 - -
--------- -------- --------- --------
Increase/(decrease) in short-term
financing arrangements with related
parties (14,855) 22,368 - -
--------- -------- --------- --------
Increase/(decrease) in loans with
related parties 35,965 84,027 (15,864) (9,490)
--------- -------- --------- --------
Outstanding balances with related parties
Joint ventures Associates
US$'000 FY20 FY19 FY20 FY19
-------- -------- ------- -------
Trade amounts owing to related parties 549 77 161 940
-------- -------- ------- -------
Other amounts owing to related parties(1) 284,000 298,855 - -
-------- -------- ------- -------
Trade amounts owing from related
parties 57,901 46,428 422 223
-------- -------- ------- -------
Loan amounts owing from related parties(2) 120,000 84,035 72,415 88,279
-------- -------- ------- -------
(1) Amounts owing to joint ventures relate to short-term
deposits and cash managed by the Group on behalf of its equity
accounted investments. Interest is paid based on the three month
London Inter-Bank Offer Rate and the one month Johannesburg
Inter-Bank Agreed Rate.
(2) Amounts owing from associates include an interest free loan
to Port Kembla Coal Terminal Ltd which is repayable by 30 June
2030.
Terms and conditions
Sales to, and purchases from, related parties of goods and
services are transactions at market prices and on commercial
terms.
Outstanding balances at year end are unsecured and settlement
mostly occurs in cash.
No guarantees are provided or received for any related party
receivables or payables.
A provision for expected credit losses of US$1 million has been
recognised in relation to outstanding balances. No expense has been
recognised in respect of expected credit losses from related
parties in FY20.
3. Directors' Responsibility Statement
The following statement was prepared for the purposes of the
South32 Group's 2020 Annual Report and is repeated here for the
purposes of complying with DTR 6.3.5. It relates to, and is
extracted from, the South32 Group's 2020 Annual Report and is not
connected to the extracted and summarised information presented in
this announcement.
"The Directors state that to the best of their knowledge:
a) The consolidated financial statements and notes on pages 89
to 137 were prepared in accordance with applicable accounting
standards, give a true and fair view of the assets, liabilities,
financial position and profit and loss of the Group and the
undertakings included in the consolidation taken as a whole;
and
b) The Directors' Report includes a fair review of the
development and performance of the business and the position of the
Group and the undertakings included in the consolidation taken as a
whole, together with a description of the principal risks and
uncertainties they face.
This Directors' report and Responsibility statement is made in
accordance with a resolution of the Board."
Karen Wood, Chair and Graham Kerr, Chief Executive Officer and
Managing Director.
4. No Change Statement and Notice of Annual General Meeting
Shareholders are advised that the financial statements in the
2020 Annual Report do not contain any material changes to the
South32's Financial Results and Outlook for the year ended 30 June
2020 announcement issued on 20 August 2020 on RNS and SENS.
Notice is hereby given that the Company's Annual General Meeting
will be held at midday (12 noon AWST) on Thursday 29 October 2020
as a virtual meeting, with shareholders participating via an online
platform, to transact the business as set out in the Notice of
Annual General Meeting which will be available no later than 30
September 2020.
Entitlement for shareholders on the JSE to vote at the Meeting
will be based on shareholders who appear in the Register of Members
at 4.00pm (AWST) on Tuesday 27 October 2020. To be entitled to
vote, the last day to trade is Thursday, 22 October 2020.
About South32
South32 is a globally diversified mining and metals company. Our
purpose is to make a difference by developing natural resources,
improving people's lives now and for generations to come. We are
trusted by our owners and partners to realise the potential of
their resources. We produce bauxite, alumina, aluminium, energy and
metallurgical coal, manganese, nickel, silver, lead and zinc at our
operations in Australia, Southern Africa and South America. With a
focus on growing our base metals exposure, we also have two
development options in North America and several partnerships with
junior explorers around the world.
Further Information
Investor Relations
Alex Volante Tom Gallop
T +61 8 9324 9029 T +61 8 9324 9030
M +61 403 328 408 M +61 439 353 948
E Alex.Volante@south32.net E Tom.Gallop@south32.net
Media Relations
Rebecca Keenan Jenny White
T +61 8 9324 9364 T +44 20 7798 1773
M +61 402 087 055 M +44 7900 046 758
E Rebecca.Keenan@south32.net E Jenny.White@south32.net
Further information on South32 can be found at www.south32.net
.
JSE Sponsor: UBS South Africa (Pty) Ltd
4 September 2020
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