CAPITAL MARKETS

South32 flags coal impairment

SOUTH32 expects to recognise an impairment on its Illawarra Metallurgical Coal business due to New South Wales’ Independent Planning Commission’s decision to knock back an extension project.

 South32's Illawarra Metallurgical Coal operation

South32's Illawarra Metallurgical Coal operation

The company said following a review of June 30 carrying values, the company would record a pre-tax impairment charge of US$728 million, or about $510 million post-tax, in its full-year financial results...

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