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South32 issues warning on rising costs

Diversified miner South32 has again issued a warning about cost pressures, saying it expects raw material input prices to rise across the industry.

The company has said its unit costs were tracking to plan by the end of its first fiscal quarter, but has previously warned that rising raw material costs and a weaker US dollar could put its full-year unit cost guidance for its commodities at risk. 

"Should these external pressures persist across the remainder of the year, we will not be immune to additional cost inflation," chief executive Graham Kerr told the company's annual general meeting in Perth on Thursday.

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South32 (S32)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 30/11/17

1 year TSR5 year TSR
189thMineral Resources62%24%
299thSouth3225%0%
401stWoodside Petroleum9%4%
444thAtlas Iron0%-57%
561stFortescue Metals Group-15%8%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

03/11/17
$0 Other
03/11/17
$0 Other
03/11/17
$200k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$10,999.7m
2nd↑South32$9,392.9m
3rd-Woodside Petroleum$5,715.9m
4th-Mineral Resources$1,470.4m
5th↑Atlas Iron$896.6m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from South32

2ndGraham Kerr$7.368m
9thRicus Grimbeek$2.950m
12thBrendan Harris$2.662m
Ranked by total remuneration from all listed WA companies

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