Company news: South32
South32 released its September Quarterly production report. The report showed good production performance from all its key assets, thus showing the benefit of the attention they are now receiving in a more focused company. Additionally, S32 noted it is on track to reduce controllable costs by at least US$350m by the end of FY-18, with the expected reduction in group and unallocated costs of 25% expected in FY-16 alone. During the quarter, S32's debt reduced by US$206m to US$196m in total. This puts S32 in by far the strongest financial position in its global peer group (resource companies with a market capitalisation of greater than US$5b).