By Rhiannon Hoyle
South32 on Monday said its production of commodities including copper, aluminum and steelmaking coal increased quarter-on-quarter, but cut its production estimate for a Brazilian aluminum business for the year ahead due to a slower-than-expected restart of operations there.
The company said it produced 12% more copper and 3% more aluminum in the three months through June than the quarter immediately prior. Metallurgical coal production was up by 21% and output of manganese ore rose by 15%.
“We had a strong finish to the year, with group copper equivalent production growing 9% in the quarter,” said Chief Executive Graham Kerr.
The increase in production followed some disruptions, including from heavy rainfall in the quarter before.
However, South32 said it has reduced fiscal year 2024 guidance for its share of the Brazil Aluminium business to 100,000 metric tons, from 148,000 tons. Lower overhead crane availability has impacted pot restart activities and metal production, the company said.
Write to Rhiannon Hoyle at [email protected]
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