Mining giant, South32
(ASX:S32) has seen a fall in production on a year-on-year (YOY) basis, across the majority of its business lines, noting adverse weather affected its Western Australian and Brazilian bauxite supply.
Its payable nickel production bucked its trend and rose sharply, while its Mozal Aluminum operation in Mozambique hit another production record. Its manganese ore and alloy also rose, followed by a minor lift in its aluminum production (all on a YOY basis).
With all of that under its belt, South32 maintained its production guidance for FY18.
South32, which was spun out of BHP
(ASX:BHP), saw a US$33 million rise in its net cash position to US$1.7 billion, despite seeing a rise in its working capital in the September quarter.
Shares in South32
(ASX:S32) are trading about 2.5 per cent lower to $3.15.
