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 +61 9324 9046 M +61 (0) 476 559 190 E P[email protected] |
Paul Formosa T +61 8 9324 9376 M +61 (0) 431 152 742 E Paul.Formosa@south32.net |
Susie Bath T +61 8 9324 9647 M +61 (0) 418 933 792 E [email protected] |
MEDIA RELATIONS |
Jill Thomas T +61 8 9324 9181 M +61 (0) 423 259 190 E [email protected] |
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Further information on South32 can be found at www.south32.net.
JSE Sponsor: UBS South Africa (Pty) Ltd
22 September 2015
