Feb 29, 2024 / NTS GMT
Operator
Thank you for standing by, and welcome to the South32 sale of Illawarra Metallurgical Coal Teleconference. (Operator Instructions) I would now like to hand the conference over to Mr. Graham Kerr, Chief Executive Officer. Please go ahead.
Graham Kerr - South32 Limited - CEO, MD & Executive Director
Thank you. Good morning, everyone, and thank you for joining our call to discuss this morning's announcement of our agreement to sell Illawarra Metallurgical Coal for a total consideration of up to USD 1.65 billion. Before we get into the questions, though, I'd first like to start with some opening remarks. Today's announcement represents an important milestone as we reshape our portfolio for a low-carbon future. I've always said that any divestment of Illawarra Metallurgical Coal or any asset in the portfolio would need to create value for shareholders, and it is our belief that this transaction will realize significant value. With attractive cash consideration of USD 1.3 billion and exposure to future metallurgical coal price upside through contingent price-linked
South32 Ltd, Golden Energy and Resources Pte Ltd, M Resources Pty Ltd Sale of Illawarra Mettallurgical Coal Call Transcript
Feb 29, 2024
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