New Company to be named South32

The majority of South32’s selected assets are located in the southern hemisphere with its two regional centres – Australia and South Africa – linked by the thirty-second parallel south line of latitude. The company’s name represents this footprint and its regional approach to managing its operations.

Graham Kerr, Chief Executive Officer Elect of South32, said: “The naming of South32 is a major step in the setup of our company. Our heritage and the places in which we operate are an important part of our identity. While South32 is grounded in the southern hemisphere, we will retain our global reach and ambition as we seek to exceed the expectations of a global shareholder base.

“Many of our assets are among the most attractive in their respective commodities and all have benefited from BHP Billiton’s structured approach to improving safety and performance. As we move to a regional model and develop a fit-for-purpose strategy, we have the potential to further improve performance. This would enable South32’s assets to reach their full potential and benefit our shareholders, employees and communities.”

Mr Kerr said that a wide range of options had been considered when selecting a name for the company, including suggestions from employees across BHP Billiton.

“As we continue to build South32 we are keen to ensure the views of our people are woven through the foundations of the company. I am proud to say that a suggestion from one of the new company’s employees was the basis for the name we have selected as our identity.”

“The demerger remains on track to be completed in the first half of the 2015 calendar year. Following the recent announcement of additional members of our experienced and high calibre senior executive team and the third party approvals already achieved at this stage, we are progressing well against plan,” he said.

Adapted from press release by Joe Green

Read the article online at: https://www.worldcoal.com/coal/08122014/bhp-billiton-south32-australia-south-africa-kerr-1659/