South32 Reports Decrease in Q2 Alumina and Aluminium Production
South32, an Australian-based mining and metals entity, has disclosed a decrease in its alumina and aluminium production for the second quarter. The company's alumina output fell to 1.28 million tonnes, a drop from the 1.36 million tonnes produced in the same period last year.
Similarly, aluminium production also saw a decline, registering at 287 thousand tonnes compared to the previous year's 289 thousand tonnes.
A notable decrease was also observed in South32's metallurgical coal production, which stood at 744 thousand tonnes for the quarter. This figure represents a substantial decrease from the 1.48 million tonnes recorded in the prior year.
In light of these developments, South32 has adjusted its production outlook for the fiscal year 2024. The group's copper equivalent production guidance has been reduced by 3%, reflecting updated projections for Brazil Alumina, Mozal Aluminium, and the molybdenum output from Sierra Gorda.
Despite these production challenges, South32 anticipates reporting first-half operating unit costs for fiscal year 2024 that are in line with or below the current year's guidance for most of its operations. This expectation is supported by cost efficiency measures and lower prices for raw material inputs.
