South32 suffered in mining industry's 'great shakeout' – Crawford

South32 chairman David Crawford has attributed the reduction in the new miner’s market capitalisation to the mining industry’s “great shakeout".

Crawford would not be drawn on the likelihood of impairments in the December quarter, following a question at the miner’s first agm relating to impairments flagged in July.
He was asked by a proxy shareholder for the Australian Shareholders Assn whether a previously-deducted $3.5 billion negative reserve would continue to haunt the company and if impairments were likely in the December quarter.

“The bottom line is that while you refer to the fact that the value of the company appears...


Janie Davies

November 18, 2015

18:30 GMT