South32 Agrees to Sell Cerro Matoso Mine to CoreX Holding Subsidiary, Focusing on Energy Transition

South32 has agreed to sell its Cerro Matoso mine in Colombia to a subsidiary of CoreX Holding as part of a strategic review. The deal includes the transfer of economic and operational control, with future cash payments of up to $100m based on production, nickel prices, and permitting milestones. The transaction aligns with South32’s strategy to focus on higher-margin minerals and metals critical to the energy transition. The sale is subject to merger clearances and reorganization, with an expected completion date in late 2025. Additionally, South32 has received a grant to investigate steam electrification at its Worsley Alumina Refinery in Western Australia.

Read more at Yahoo Finance: South32 to sell Cerro Matoso mine to CoreX Holding subsidiary