March 26, 2020 / 11:30 PM / 2 months ago

BRIEF-South32 Says Suspended Remaining US$121 Mln Of Current On-Market Share Buy-Back

March 27 (Reuters) - South32 Ltd:

* SUSPENDED REMAINING US$121M OF OUR CURRENT ON-MARKET SHARE BUY-BACK

* PRE-FEASIBILITY STUDY AT HERMOSA IS NOW EXPECTED TO BE CONCLUDED IN SEPTEMBER 2020 QUARTER

* SUSTAINING CAPITAL EXPENDITURE SAVINGS WILL BE REALISED BY A REDUCTION IN SPEND OF 10% IN FY20 AND 18% IN FY212

* SOUTH32-SOUTH AFRICA MANGANESE OPERATIONS, WITH EXPORT COAL PRODUCTION FROM SOUTH AFRICA ENERGY COAL, PLACED ON CARE AND MAINTENANCE FOR MIN OF 21 DAYS

* CERRO MATOSO OPERATION CONTINUES TO OPERATE WITH GOVERNMENT APPROVAL AT A REDUCED RATE

* IN COLOMBIA, CERRO MATOSO OPERATION CONTINUES TO OPERATE WITH GOVERNMENT APPROVAL AT REDUCED RATE

* AIMS TO DELIVER ABOUT US$160M IN LOWER EXPENDITURE OVER NEXT 15 MONTHS

* TO-DATE, HAVE NOT YET EXPERIENCED PRODUCTION INTERRUPTIONS FROM COVID-19 AT ANY OTHER OPERATIONS

* BALANCE SHEET STRONG WITH CASH AND CASH EQUIVALENTS OF $1.4 BILLION, NO TERM DEBT AND UNDRAWN $1.5 BILLION REVOLVING CREDIT FACILITY Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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