Tag: South 32
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South 32 to curtail thermal coal production in South Africa amid mounting losses
The mining major, South 32 has announced production cut at its Wolvekrans collieries in South Africa for three months starting 1 Sep’20. The company has cited mounting operating losses and negative cash flows triggered by COVID-induced sluggish seaborne demand as the key reasons for the production cut. The Wolvekrans is one of the largest open-cast…