Reading through the South32 results announcement there is a fair mention of joint manganese operations in Australia (Groote Eylandt Mining Co) and South Africa (Samancor Holdings) that they have 60% ownership interest in. Both provided good results FY18. Increased production (10%) and manganese ore/allow prices (20-40%) saw profit from those two ventures increase from $287MM US FY17 to $503MM USD FY18. They also sight those specific operation for their strong profitability.
May the strong results and success in their exisiting manganese operations have them sniffing around for other opportunities.
GMC Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
