South32 Ltd. (AU:S32) has released an update.
South32 Ltd. is set to appeal against stringent conditions recommended by the Western Australian Environmental Protection Authority for its Worsley Alumina project, which pose significant operational challenges and threaten the project’s long-term viability. The company anticipates securing the necessary environmental approvals by the end of 2024, despite the potential for a US$554M impairment charge affecting its financial results due to the heightened uncertainty. Worsley Alumina, a key player in the alumina industry, has been a major employer and contributor to the local economy for four decades.
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