Temco Anti-dumping Investigation

RNS Number : 8029Z

South32 Limited

22 September 2015

 

22 September 2015

TEMCO ANTI-DUMPING INVESTIGATION

South32 Limited (ASX, LSE, JSE:  S32) ("South32") advises that the United States Department of Commerce has issued a notice of a preliminary anti-dumping determination, setting a 11.93% rate for imports of Silicomanganese of Australian origin into the United States, of which TEMCO is a producer.

The Department of Commerce will continue its investigations and is expected to make a final determination in 2016. The United States International Trade Commission is expected to commence its final injury investigation. TEMCO intends to defend its position. 

South32 is disappointed with the imposition of these preliminary measures and will review its options. The preliminary finding does not impact South32's manganese ore operations in Australia and South Africa, which accounted for 95 per cent of Underlying Earnings Before Interest and Tax (EBIT) generated by the manganese business in FY15.

TEMCO is a manganese alloy plant located in Tasmania, Australia and is a wholly-owned subsidiary of GEMCO, which is 60 per cent owned by South32.

South32 is committed to the development of transparent and fair markets in which it sells its products.  

INVESTOR RELATIONS
Peter Harris T     [phone] M    [phone] E     [e-mail]	Paul Formosa T     [phone] M    [phone] E     [e-mail]	Susie Bath T     [phone] M    [phone] E     [e-mail]
MEDIA RELATIONS
Jill Thomas          T      [phone] M     [phone] E     [e-mail]

Further information on South32 can be found at www.south32.net.

JSE Sponsor:  UBS South Africa (Pty) Ltd
22 September 2015

 

END

 

 

MSCFMGZLLZRGKZG