South32's maiden annual results highlight asset optimisation, cost cuts

South32 Limited's annual earnings for the 2015 financial year rose 41% year-on-year to $575 million, though it warned of $350 million in cost cuts over the next three years in a tough market.

The miner is also targeting a 9% cut to its capital expenditure in 2016 to $650 million, the company said in its maiden results statement.

“By optimising the performance of...

Published

Ellie Wang

Charlotte Radford

August 24, 2015

11:37 GMT

Shanghai, London