UPDATE 1-Australia's South32 mulls Eagle Downs stake sale after halting development
By Reuters Staff (Adds Eagle Downs decision, manganese production, outlook) Jan 21 (Reuters) - Diversified miner South32 Ltd said on Thursday it was considering a possible divestment of its 50% interest in the Eagle Downs metallurgical coal project in Queensland, after deciding to put its development on hold. The company, which owns the project along with Chinese steelmaking giant China BaoWu Steel Group Corp, said development was halted as “expected returns (from the project) do not currently support the allocation of capital.” China BaoWu Steel did not immediately respond to a Reuters r...
Source: reuters.com