News: S32 South32 Posts Qtrly Metallurgical Coal Production 1,240 Kt Versus 1,565 Kt

April 24 (Reuters) - South32 Ltd (S32) :

• FY23 OPERATING UNIT COST GUIDANCE HAS BEEN HELD LARGELY UNCHANGED
• QTRLY METALLURGICAL COAL PRODUCTION 1,240 KT VERSUS 1,565 KT
• QTRLY PAYABLE COPPER PRODUCTION 15.5 KT VERSUS 8.4 KT
• FY23 GROUP CAPITAL EXPENDITURE GUIDANCE IS UNCHANGED
• QTRLY ALUMINA PRODUCTION 1,239 KT VERSUS 1,317 KT
• QTRLY ALUMINIUM PRODUCTION 279 KT VERSUS 243 KT
• REMAIN ON-TRACK TO MEET FY23 PRODUCTION GUIDANCE AT MAJORITY OF OUR OPERATIONS
• QTRLY MANGANESE ORE PRODUCTION 1,261 KWMT VERSUS 1,206 KWMT
• ILLAWARRA METALLURGICAL COAL’S APPIN MINE ENCOUNTERED CHALLENGING STRATA CONDITIONS IN THE QUARTER
• ILLAWARRA FY23 OPERATING UNIT COST GUIDANCE US$127/T
• ILLAWARRA METALLURGICAL COAL’S APPIN MINE CHALLENGING STRATA CONDITIONS IN QUARTER RESULTING IN 7% REDUCTION IN FY23 PRODUCTION GUIDANCE
• AUSTRALIA MANGANESE FY23 PRODUCTION GUIDANCE HAS BEEN INCREASED BY 3% TO 3,500KWMT
• AUSTRALIA MANGANESE INVENTORIES ARE EXPECTED TO BE DRAWN DOWN IN SEPTEMBER 2023 QUARTER
• EXPECT TO INVEST US$44M OVER FY24 AND FY25 TO COMPLETE EASTERN LEASES SOUTH LIFE EXTENSION PROJECT FOR AUSTRALIA MANGANESE OPERATION
• ALUMINIUM SALES VOLUMES ARE EXPECTED TO INCREASE IN JUNE 2023 QUARTER AS WE DRAWDOWN INVENTORY
• BRAZIL ALUMINA FY23 OPERATING UNIT COSTS ARE EXPECTED TO BE APPROXIMATELY 5% BELOW H1 FY23
• REVISED FY23 GUIDANCE FOR UNDERLYING NET FINANCE COSTS TO US$190M
• MOZAL ALUMINIUM SALES VOLUMES ARE EXPECTED TO INCREASE TO APPROXIMATELY 100KT IN JUNE 2023 QUARTER
• SIERRA GORDA REMAINS ON-TRACK TO ACHIEVE FY23 PRODUCTION GUIDANCE
• TEMPORARY REDUCTION IN SALES VOLUMES IS EXPECTED TO HAVE A MODEST IMPACT ON FY23 OPERATING UNIT COSTS FOR MOZAL ALUMINIUM
• MOZAL ALUMINIUM FY23 OPERATING UNIT COSTS EXPECTED TO BE APPROXIMATELY 5% ABOVE H1 FY23 (US$2,237/T)