South32 exits coal with the sale of Illawarra Met Coal to GEAR and M Resources Report

Insight 04 March 2024

Get this report

$1,100

You can pay by card or invoice

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

Report summary

South32 agreed to sell Illawarra Metallurgical Coal to Golden Energy and Resources (GEAR) and M Resources for up to US$1.65 billion. This transaction ends South32’s participation in the coal sector and allows the company to focus on copper and zinc assets. For GEAR and M Resources it entrenches its position in the metallurgical coal sector. With close ties to Stanmore, it elevates their combined position to the six-largest metallurgical coal seaborne exporter.

Executive summary
- Deal summary and funding
- Implications

Tables and charts

This report includes 8 images and tables including:

Key facts
Sensitivity analysis
Economic assumptions

Deal-implied long-term (adjusted) coal prices versus HCC monthly average
Pro-forma for GEAR, M Resources and Stanmore, (attributable basis by mine)
Pro-forma, attributable basis (by coal type)
Top 15 seaborne metallurgical coal exporters for 2025
Asset map

What's included

This report contains:

South32_exits_coal_with_the_sale_of_Illawarra_Met_Coal.xlsx

XLSX 134.62 KB
South32 exits coal with the sale of Illawarra Met Coal to GEAR and M Resources

PDF 1.29 MB