South32's Mozal buy delayed

Diversified miner South32 on Wednesday told shareholders that the acquisition of additional 25% shareholding in Mozal Aluminium, from Mitsubishi’s MCA Metals, has been delayed.

The company last year exercised its pre-emptive rights over the additional shareholding, matching a headline purchase price of $250-million to acquire the interest, taking South32’s ownership of the smelter up to 72.1%.