South32 Australia Manganese achieves records quarterly performance

Company News

by Anna Napoli

South32 (ASX:S32) has announced record quarterly performance at Australia Manganese and an 8 per cent lift in total manganese ore production.

The results come on the back of stronger demand and higher pricing.

Meantime, Illawarra Metallurgical Coal production lifted by 54 per cent to 1.9 million tones.

The mining and metals company has maintained annual production guidance for all operations.

S32 finished the period with a net cash balance of US$679 million and says the strong financial position enabled the acquisition of Arizona Mining and Eagle Downs as well as the continuation of it US$1 Billion capital management program.

Shares in South32 (ASX:S32) are trading 1.18 per cent lower to $3.77

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.