South32 Reports Strong Quarterly Results
Key points
- 12% increase in payable copper equivalent production at Sierra Gorda
- 33% uplift in manganese volumes as Australia Manganese executed recovery plan
- Continued investment in growth at Hermosa project
Full summary
South32 Chief Executive Officer, Graham Kerr, reported that the company delivered another period of strong operating performance as it continued its focus on safe and reliable operations. Production highlights included a 12% increase in payable copper equivalent production at Sierra Gorda and a 33% uplift in manganese volumes, as the company successfully executed the operational recovery plan at Australia Manganese. The company's financial position remains strong, with US$117 million in net distributions from its Sierra Gorda and manganese equity accounted investments during the quarter. At Hermosa, the company continued critical path shaft sinking for the Taylor zinc-lead-silver project, while the exploration decline for the Clark battery-grade manganese deposit remains on track. The company also welcomed the decision of the US Government to support the establishment of the Ambler Access Road, which is a key step in unlocking the potential of the Ambler Mining District, where South32 holds high-grade copper and zinc options. Looking ahead, the company remains focused on maintaining its operating momentum and capitalizing on strengthening market conditions in base metals.
Guidance
FY26 production guidance remains unchanged across all operations. Mozal Aluminium production guidance reflects the period ending March 2026, and Cerro Matoso production guidance reflects the period ending December 2025.
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