Source - SMW
South32 said the operational responsibilities of its two chief operating officers would change with the management of South Africa Energy Coal as a standalone business.

Mike Fraser would be accountable for the company's alumina and aluminium operations in Australia and South Africa, and the Cerro Matoso operation in Colombia. He would also remains as South32's primary representative for SAEC

Paul Harvey, meanwhile, would be accountable for the group's manganese operations in Australia and South Africa, as well as the Cannington and Illawarra metallurgical coal operations in Australia.

"By establishing South Africa Energy Coal as a standalone business during the June 2018 half year we will significantly simplify our organisation and unlock additional value for shareholders," chief executive Graham Kerr said. 

"The revised accountabilities that we have announced today are an important step in this process, allowing us to fully capture value across our supply chain."

"We are well advanced in our planning for this important strategic initiative and will provide further updates as we finalise our new operating model, governance structures and redesign the SAEC business."


At 2:13pm: (LON:S32) South32 Limited share price was -4.3p at 217.3p