South32 reported a significant increase in production of key commodities including copper, aluminum, and steelmaking coal in the second quarter. The company saw a 12% growth in copper production and a 3% increase in aluminum production compared to the previous quarter. Metallurgical coal production also rose by 21%, and manganese ore output saw a 15% increase.
Despite facing some disruptions, such as heavy rainfall in the previous quarter, South32 had a strong finish to the year, with group copper equivalent production growing by 9% in the quarter. Chief Executive Graham Kerr expressed his satisfaction with the company’s performance.
However, South32 has revised down its production estimate for the Brazil Aluminium business for the upcoming year. The company now expects to produce 100,000 metric tons, compared to the initial estimate of 148,000 tons. This revision is due to a slower-than-expected restart of operations in Brazil, primarily caused by lower availability of overhead cranes affecting pot restart activities and metal production.
Overall, South32 remains optimistic about its future prospects and is committed to delivering strong results in the coming years.