- In its September quarterly report, South32 has shared that its operating performance has further strengthened the Company’s financial position.
- South32 informed that it has achieved record production at South Africa Manganese and maintained production above nameplate capacity at Worsley Alumina.
- The quarterly report indicates that the output at Mozal Aluminium was higher, with the smelter benefitting from the Company’s investment in the AP3XLE energy efficiency technology.
ASX-listed Company South32 Limited (ASX:S32), which operates as a diversified metals and mining company shared its quarterly report for September 2021 on Thursday.
The Company today revealed that its operating performance has further strengthened its financial position, supporting the continuation of on-market share buy-back and the payment of US$256M fully franked ordinary and special dividends in respect of the June 2021 half year.
According to today’s announcement, the Company has:
- Delivered a US$254 million increase in its net cash position to US$660 million, with higher commodity prices and third party logistics disruptions resulting in a build in working capital.
- Achieved a 7% increase in manganese production, with a quarterly record at South Africa Manganese and a strong start to the year at Australia Manganese.
- Entered into binding conditional agreements to acquire a 45% interest in Sierra Gorda, an operating copper mine in Chile which is expected to deliver copper equivalent production of 214kt in CY21e (100% basis).
- Directed US$15 million towards exploration programs at our existing operations and development options during the September 2021 quarter, including US$0.5M for our EAI, US$4M at the Hermosa project and US$6M at Ambler Metals.
Meanwhile, the stock S32 was spotted trading tad higher at AU$3.850 per share on ASX at 1:25 PM AEDT.