Company news: South32
South32 has acquired the Metropolitan Colliery and the related 16.67% interest in the Port Kembla Coal Terminal.
The Metropolitan Colliery mines metallurgical coal (used for manufacturing steel) from operations in NSW, and is located in close proximity to Illawarra Metallurgical Coal - owned by South32.
Separately, South32 has indicated that it is experiencing production issues at its Illawarra Metallurgical Coal operations. Temporary suspension of one part of the operations, and lower production levels than planned at another part, will result in a ~500kt production loss.