South32 Moves On From Eagle Downs Coal Project

South32 has stepped away from the Eagle Downs metallurgical coal project in Queensland after deciding it’s not financially viable.

The company completed a feasibility study at the site in the December quarter, which found potential for a long-life operation, but stated the returns were not in line with its capital management framework.

“…the expected returns do not currently support the allocation of capital in accordance with our capital management framework,” South32 stated.

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