South32 (ASX: S32) delivered steady performance in the December 2025 half year, maintaining production guidance for FY26 across most operations. Alumina and aluminium production increased, with notable growth from Worsley and Brazil Alumina. Manganese production surged by 58%, while Sierra Gorda exceeded expectations with strong copper, molybdenum, gold, and silver volumes. Cannington achieved higher-than-forecast zinc and silver grades, and Hermosa's Taylor zinc-lead-silver project progressed as planned.
Strategically, South32 completed the divestment of Cerro Matoso and advanced its exploration and development activities, including the Hermosa and Ambler Metals projects. The group’s safety programs continue to evolve with leadership initiatives. Despite challenges at Mozal Aluminium, such as a transition to care and maintenance, the company’s focus on cost management and operational efficiency supports its growth trajectory. Additionally, US$338 million was invested at Hermosa, while shareholders received US$152 million in returns.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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South32 Quarterly Update-December 2025
South32 (ASX: S32) delivered steady performance in the December 2025 half year, maintaining production guidance for FY26 across most operations. Alumina and aluminium production increased, with notable growth from Worsley and Brazil Alumina. Manganese production surged by 58%, while Sierra Gorda exceeded expectations with strong copper, molybdenum, gold, and silver volumes. Cannington achieved higher-than-forecast zinc and silver grades, and Hermosa's Taylor zinc-lead-silver project progressed as planned.
Strategically, South32 completed the divestment of Cerro Matoso and advanced its exploration and development activities, including the Hermosa and Ambler Metals projects. The group’s safety programs continue to evolve with leadership initiatives. Despite challenges at Mozal Aluminium, such as a transition to care and maintenance, the company’s focus on cost management and operational efficiency supports its growth trajectory. Additionally, US$338 million was invested at Hermosa, while shareholders received US$152 million in returns.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au