What about South32’s share buy-back?

Another company following the methodology of Randgold Resources by not diving into corporate activity in favour of developing its own resources is South32, the company created from the demerger of non-core assets of BHP. Asked by finweek in August why the company was relatively unspectacular in its approach to growth, South32 CEO, Graham Kerr, said: “We are what we are.” In other words, the company had set out its stall to conservatively manage its cash, which seems appropriate for a firm born in the midst of the metals price correction of the past few years. Its decision, however, to implement a share buy-back programme – which in August it extended by $250m to $750m – has both its fans and its critics. In essence, a share buy-back programme is how a company…

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Finweek - English (Digital) - 1 Issue, 02-nov-17

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