Nickel Downturn Prompts South32 Divestment, Veteran Investor Eyes Contrarian Opportunity - South32 (OTC:SOUHY)

Nickel Downturn Prompts South32 Divestment, Veteran Investor Eyes Contrarian Opportunity - South32 (OTC:SOUHY)

Australian miner South32 (NYSE:SOUHY) has agreed to sell its Cerro Matoso ferronickel mine in northern Colombia to an industrial conglomerate, CoreX Holding, in a deal valued at up to $100 million. The agreement includes a nominal upfront payment, with additional payments tied to future nickel prices and production performance, as well as up to $20 million in permitting milestone bonuses over the next five years. Cerro Matoso, located in Córdoba…

South32 washes its hands of nickel amid dirty market change

The mixed metals miner is taking a $US130 million ($200m) accounting hit to sell the Cerro Matoso nickel operation in Colombia to a Turkish tycoon’s company for up to $US100m.

Türkiye’s CoreX to Acquire Colombia’s Cerro Matoso Nickel Mine from South32 in Deal Worth Up to $100 Million

CoreX Holding, a Netherlands-based firm founded by Turkish-American entrepreneur Robert Yuksel Yildirim, has signed a binding agreement to acquire the Cerro Matoso nickel mine in Colombia from Australia’s South32. The transaction includes a nominal upfront payment and potential future considerations totaling up to $100 million. Deal includes contingent payments Within the deal, the payment structure includes up to $80 million in contingent payme…