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South32 - quarterly report
• FY26 production guidance remains unchanged for all operated assets. Guidance for non-operated Brazil Aluminium is under review as we await the operator's revised ramp-up profile, following lower than planned quarterly volumes.
• H1 FY26 Operating unit costs are tracking in line with or below FY26 guidance across the majority of operations.
• Alumina production increased by 3% in the December 2025 half year, as Brazil Alumina achieved record half year production and Worsley Alumina delivered planned volumes while completing scheduled calciner maintenance.
• Aluminium production increased by 2% in the December 2025 half year, as Hillside Aluminium continued to test its maximum technical capacity, while Mozal Aluminium ceased pot relining ahead of its transition to care and maintenance from March 20261.
• Sierra Gorda continued to perform ahead of FY26 guidance, delivering copper production to plan and strong first half volumes of molybdenum, gold and silver. Distributions of USD180M (South32 share) were received from Sierra Gorda in the first half.
• Cannington payable zinc equivalent production2 increased by 13% in the December 2025 quarter, as the operation exceeded planned processing rates and realised higher silver and zinc grades in accordance with the mine plan.
• Manganese production increased by 58% in the December 2025 half year, as Australia Manganese returned to normalised production rates, while South Africa Manganese completed planned maintenance.
• Invested USD338M at Hermosa in the December 2025 half year, progressing construction of the shafts and surface infrastructure for the Taylor zinc-lead-silver project, and completing the decline for the Clark battery-grade manganese deposit.
• Returned USD152M to shareholders in the December 2025 half year, with USD117M in fully-franked ordinary dividends and USD35M via our on-market share buy-back.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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