SOUTH32 subsidiary Illawarra Metallurgical Coal has decided not to proceed with its Dendrobium Next Domain in New South Wales after considering recently completed study work and extensive analysis of alternatives.
IMC concluded that the expected returns from the US$700 million up-front capital expenditure estimate for the Dendrobium Next Domain project were not sufficient to support an investment.
The decision frees up South32 to focus on other commodities, particularly in the critical minerals space. The original $956 million Dendrobium extension project was knocked back by the NSW Independent...
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