Perth-based miner South32 is launching a $US500 million ($A655 million) on-market share buyback as the BHP Billiton spin-off continues to benefit from the recovery in commodity prices.

Perth-based miner South32 is launching a $US500 million ($A655 million) on-market share buyback as the BHP Billiton spin-off continues to benefit from the recovery in commodity prices.