Diversified miner South32 on Thursday reported a pre-tax impairment charge of $504-million over its South African Energy Coal assets for the year ended June, announcing that it has now entered into exclusive negotiations to divest of this asset.
South32 in 2017 announced plans to divest of the South African Energy Coal operations, with CEO Graham Kerr telling the media on Thursday that the company had taken a comprehensive and competitive process to divest of the asset.