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South32 Production Report for Apr-Jun 2021 Quarter

29 Jul, 2021, 4:30 am South32 CEO Mr Graham Kerr said During the year we achieved production records at Worsley Alumina, Brazil Alumina and Australia Manganese. At South Africa Manganese volumes increased by 21 per cent, following COVID-19 related impacts in the prior year. Our base metals operations, Cannington and Cerro Matoso, both finished the year strongly, achieving 20 and 54 per cent increases in zinc We also made substantial progress reshaping our portfolio during the year, completing the divestments of South Africa Energy Coal and the TEMCO manganese alloy smelter, while progressing studies for our base metals development options at Hermosa and Ambler Metals. This, along with the release of our medium-term target to halve our operational emissions by 2035, positions us well as the world transitions to a low carbon future

Here s why the South32 (ASX:S32) share price is up today %

The South32 Ltd(ASX: S32) share price is on the rise in early morning trade after the company made three announcements this morning. The metals and mining company first released a mineral resource update from its Hermosa Project. Then it announced it will face a US$728 million pre-tax impairment charge for its Illawarra Metallurgical Coal operations. Finally, South32 released a report detailing its activities over the recent quarter. Right now, the South32 share price is $2.88 – 2.49% higher than its closing price yesterday. Let’s start by taking a look at South32’s quarterly report. The news driving the South32 share price

Investegate |South32 Limited Announcements | South32 Limited: Quarterly Report June 2021

Investegate |South32 Limited Announcements | South32 Limited: Quarterly Report June 2021
investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.

Investegate |South32 Limited Announcements | South32 Limited: 3rd Quarter Results

  Strong operating performance across the portfolio during the quarter combined with improving prices for most of our commodities saw our net cash position increase to US$517 million. During the period we returned US$90 million to our shareholders via our on-market share buy-back bringing total returns under our capital management program to US$1.5 billion. We set year to date production records at Brazil Alumina and Australia Manganese.  We increased our production guidance for South Africa Manganese as we continue to respond to market conditions and at Cannington off the back of continued strong underground performance. Having successfully completed a major furnace refurbishment at Cerro Matoso, we approved further investment in a new project that will lift future nickel production.

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