South32 (ASX:S32) releases Q2 results

Company News

by Lauren Evans

Mining company South32 (ASX:S32) released their results for the June quater 2021. The company announced a record annual production at Worsley Alumina, Brazil Alumina and Australian Manganese. At South Africa Manganese volumes increased by 21 per cent.

The company recorded a steady year-on-year production with a 14 per cent increase in zinc equivalent production at Cannington with strong underground performance enabling acceleration of a higher-grade mining sequence and a 9 per cent increase in production at Illawarra Metallurgical Coal with the return to a three long-wall configuration, delivering greater efficiencies.

A 54 per cent increase was recorded in Nickel production at Cero Matoso during the June quarter, following the successful refurbishment of a furnace and first ore from the higher grade O&P project and a 21 per cent increase in averaged realised prices at the aluminium smelters.

Successful divestment of South Africa energy coal and the TEMCO Manganese alloy smelter during during FY21, simplifying and improving their portfolio. 

Shares in South 32 (ASX:S32) are trading 2.49 per cent higher at $2.88.

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