South32 Ltd (S32.AX): Becoming a copper & zinc play?

Research evidence excerpt

South32 Ltd (S32.AX): Becoming a copper & zinc play?

kets Inc. or its affiliates currently has, or had within the past 12 months, the following as investment

banking client(s): Alcoa Corp,Aluminium Bahrain BSC,Aluminum Corporation of China,Antofagasta,Capstone Copper Corp

CDI,Freeport McMoRan,Hindalco Industries,MMG,Metlen Energy & Metals,Norsk Hydro ASA.

Citigroup Global Markets Inc. or its affiliates currently has, or had within the past 12 months, the following as clients, and the

services provided were non-investment-banking, securities-related: Alcoa Corp,Aluminium Bahrain BSC,Aluminum

Corporation of China,Antofagasta,Capstone Copper Corp CDI,First Quantum Minerals Ltd,Freeport McMoRan,Grupo

Mexico,Hindalco Industries,Hudbay Minerals,Ivanhoe Mines,KGHM Polska Miedz SA,Lundin Mining,MMG,Metlen Energy &

Metals,Norsk Hydro ASA,Southern Copper Company.

services provided were non-investment-banking, non-securities-related: Alcoa Corp,Aluminium Bahrain BSC,Aluminum

Corporation of China,Antofagasta,Capstone Copper Corp CDI,China Hongqiao,First Quantum Minerals Ltd,Freeport

McMoRan,Grupo Mexico,Hindalco Industries,Ivanhoe Mines,Jiangxi Copper,KGHM Polska Miedz SA,Lundin

Mining,MMG,Metlen Energy & Metals,Norsk Hydro ASA,South32 Ltd,Southern Copper Company,Zijin Mining.

Citigroup Global Markets Inc. and/or its affiliates has a significant financial interest in relation to Alcoa Corp,Aluminium

Bahrain BSC,Aluminum Corporation of China,Capstone Copper Corp CDI,Freeport McMoRan,Hindalco Industries,Ivanhoe

Mines,Jiangxi Copper,Lundin Mining,MMG,Norsk Hydro ASA,Zijin Mining. (For an explanation of the determination of

significant financial interest, please refer to the policy for managing conflicts of interest which can be found at

www.citiVelocity.com.)