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South32 Ltd said on Friday it expects the Australian federal government to decide on the proposed expansion of its alumina refining operation Worsley in Western Australia early next year. The Perth-based mining group lodged an appeal after the Western Australian Environmental Protection Authority in July recommended the Worsley mine development project be approved, subject to conditions. But South32 argued that several proposed conditions would create significant operating challenges, and went beyond reasonable measures for managing environmental risks. For the financial year that ended June 30, South32 took an impairment charge of around $554 million on Worsley Alumina due to increased uncertainty created by the regulator’s recommended conditions. South32 said on Friday the Western Australian minister for environment, Reece Whitby, this week agreed with recommendations to amend conditions of the Worsley project. The appeals committee report to the minister for environment on Wednesday recommended that certain conditions should be altered ‘based on the arguments put forward on appeal’. On Thursday, Whitby said he agreed with the appeals committee’s recommendations that certain conditions should be amended. The minister said these changes are ‘extensive’. The state approval of the Worsley Alumina project is expected later this month. South32 expects the federal government to decide on this project early 2025. Shares in South32 were up 0.2% at 171.00 pence each in London on Friday morning. In Johannesburg, they were down 0.5% to R 38.36 each. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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