South32 cuts manganese ore trucking amid lower prices

South32 reduced high-cost trucking of manganese ore at its South African operations in the three months to December 31, 2019, in response to lower manganese ore prices, the miner announced on Thursday January 16.

Manganese ore prices were under downward pressure for much of 2019 due to oversupply and weaker demand from China, following years of historically high prices.
Manganese ore 37% Mn, fob Port Elizabeth finished December at $3.46 per dry metric tonne unit (dmtu), having traded as low as $2.55 per dmtu in November. This compares with $3.80 per dmtu at the start of the quarter and $5.62 at the start of 2019.

The...

Published

Janie Davies

January 16, 2020

16:55 GMT

London