South32’s South Africa manganese production guidance increases | Finance News Network

South32’s South Africa manganese production guidance increases

Company News

by Kathy Skantzos

Mining and metals company South32 (ASX:S32) reports it has maintained FY2018 production guidance, except for South Africa manganese which has seen an 8 per cent increase in its prior estimate due to strong market demand.

The company said it has achieved record Australia manganese ore production in the December 2017 half year, as the performance of its high grade circuit improved and continued to operate at capacity.

The company said it delivered a record Mozal aluminum production in the December 2017 half year, while South Africa aluminum remains on track to increase production in FY2018.

The miner commenced the process to manage South Africa Energy Coal as a stand-alone business from April 2018, and approved the investment to extend the life of the Klipspruit colliery by at least 20 years.

South32 CEO Graham Kerr said it has been a record quarter of performance, with supportive market dynamics which have allowed the company to increase FY2018 South Africa manganese production guidance, which has remained unchained for all other operations.

Shares in South32 (ASX:S32) are trading 1.63 per cent lower at $3.92.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.