News: S32 South32 Reports Qtrly Metallurgical Coal Production 1,483 KT

Jan 23 (Reuters) - South32 Ltd (S32) :

• QTRLY PAYABLE COPPER PRODUCTION 18.9 KT
• QTRLY ALUMINA PRODUCTION 1,356 KT VERSUS 1,332 KT
• QTRLY METALLURGICAL COAL PRODUCTION 1,483 KT VERSUS 1,192 KT
• QTRLY ALUMINIUM PRODUCTION 289 KT VERSUS 246 KT
• QTRLY MANGANESE ORE PRODUCTION 1,477 KWMT VERSUS 1,296 KWMT
• TWO FATALLY INJURED IN AN INCIDENT AT MOZAL ALUMINIUM ON 7 NOV
• SEES OPERATING UNIT COSTS FOR FIRST HALF TO BE IN-LINE WITH OR BELOW GUIDANCE FOR THE 2023 FINANCIAL YEAR AT THE MAJORITY OF OUR OPERATIONS
• EXPECT TO RECORD A BUILD IN WORKING CAPITAL OF APPROXIMATELY US$100M IN DECEMBER 2022 HALF YEAR
• INVESTED US$96M AT HERMOSA IN DECEMBER 2022 HALF YEAR
• TOTAL OF SIX DEWATERING WELLS EXPECTED TO BE COMPLETED DURING FY23 AT HERMOSA
• SECOND WATER TREATMENT PLANT AT HERMOSA REMAINS ON-TRACK TO BE COMMISSIONED IN JUNE 2023 QUARTER
• FY23 PRODUCTION GUIDANCE AT CANNINGTON REVISED LOWER BY 11% DUE TO LOWER MILL THROUGHPUT AND LABOUR AVAILABILITY IMPACTING MINING RATES
• RETURNED US$143M VIA OUR ON-MARKET SHARE BUY-BACK DURING DECEMBER 2022 HY, PURCHASING A FURTHER 56M SHARES AT AN AVERAGE PRICE OF A$3.86
• EXTENDED OUR UNDRAWN SUSTAINABILITY-LINKED REVOLVING CREDIT FACILITY DURING DECEMBER 2022 QUARTER
• TO RECORD A BUILD IN WORKING CAPITAL OF APPROXIMATELY US$100M IN DECEMBER 2022 HALF YEAR
• MADE FINAL INVESTMENT DECISION TO INSTALL ADDITIONAL VENTILATION CAPACITY AT ILLAWARRA METALLURGICAL COAL’S APPIN MINE TO ENABLE MINING
• INVESTMENT FOR ADDITIONAL VENTILATION CAPACITY AT APPIN MINE FOR US$260M IS EXPECTED TO BE COMPLETED BY H1 FY26
• OPERATING UNIT COSTS IN H2 FY23 ARE EXPECTED TO BENEFIT FROM HIGHER PRODUCTION VOLUMES
• OPERATING UNIT COST AT ILLAWARRA METALLURGICAL COAL FOR HY EXPECTED TO BE 7.5% ABOVE CURRENT FY23 GUIDANCE
• REDUCED FY23 PRODUCTION GUIDANCE AT BRAZIL ALUMINIUM BY 25% TO 75KT AND FY24 PRODUCTION GUIDANCE BY 17% TO 148KT