South32 Provides Mineral Resources and Reserves Update

BHP (NYSE:BHP) spinoff South32 (ASX:S32,LSE:S32) provide an update for its coal resources and reserves this week. The update covered three of the company’s key operations; Cannington, Groote Eylandt Mining Company (GEMCO) and Illawarra Metallurgical Coal.
As quoted in the press release, highlights included:

• Cannington- a 21% increase in total Mineral Resources;
• GEMCO- Ore Reserves for the sand tailings (Sands) associated with the Premium Concentrate Project (PC02) for the first time, and the upgrading of in situ (ROM) Mineral Resources from Indicated to Measured and the downgrading of ROM Ore Reserves from Proved to Probable; and
• Illawarra Metallurgical Coal- upgrades to Coal Resources (following additional drilling) and Coal Reserves (as a result of obtaining extraction approvals for future longwall panels) for Illawarra Metallurgical Coal.

Click here for the full press release.