South32 warns of more pain to come for miners

By Perry Williams
Updated May 4 2016 - 3:23pm, first published 12:40pm
South32, spun-off by BHP Billiton, is led by former chief financial officer Graham Kerr (far right). Helping with the sping-off were from left, South32 chairman David Crawford, BHP Billiton chair Jacques Nasser and CEO Andrew Mackenzie.  Photo: Philip Gostelow
South32, spun-off by BHP Billiton, is led by former chief financial officer Graham Kerr (far right). Helping with the sping-off were from left, South32 chairman David Crawford, BHP Billiton chair Jacques Nasser and CEO Andrew Mackenzie. Photo: Philip Gostelow

Australia's third-biggest miner, South32, will resist chasing deals in the market after warning some of its rivals face more pain after failing to adequately restructure their companies during the commodities sell-off.

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