South32 Says Sale of Metalloys Manganese Smelter Won't Proceed
March 06 2022 - 5:16PM
Dow Jones News
By Rhiannon Hoyle
South32 Ltd. on Monday said the sale of the Metalloys manganese
alloy smelter in South Africa to Satka Investments Ltd. won't go
ahead.
"This follows a failure to satisfy certain commercial conditions
to the agreement," South32 said in a regulatory filing. Satka is
one of the world's largest producers of ferromanganese with
operations in Russia and Ukraine.
The Metalloys smelter is run by the Samancor Manganese joint
venture, owned 60% by South32 and 40% by Anglo American PLC.
Production at the smelter stopped in March 2020 and the deal to
sell it to Satka was struck last November. "The operation is
expected to remain on care and maintenance as we assess future
options for the smelter," South32 said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
March 06, 2022 18:01 ET (23:01 GMT)
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