The miner is also targeting a 9% cut to its capital expenditure in 2016 to $650 million, the company said in its maiden results statement.
“By optimising the performance of our existing assets, converting high value brownfield resources into reserves, and identifying new opportunities, we will maximise return on invested capital and deliver sector-leading total shareholder returns,” South32 ceo Graham Kerr said on Monday August 24.
“A key enabler of the strategy is the implementation of our regional operating model, which is being fast tracked. This includes reducing layers...
