South32 Ltd. (AU:S32) has released an update.
South32 Ltd. has achieved significant milestones with the final investment approval for the Taylor zinc-lead-silver deposit and the sale of Illawarra Metallurgical Coal for up to US$1.65 billion. Despite the temporary suspension of operations at Australia Manganese due to Tropical Cyclone Megan, the company reported record production at Hillside Aluminium and South Africa Manganese, and a 60% quarterly increase in coal production at Illawarra. With the exception of the Australia Manganese, the company’s FY24 production and cost guidance remains unchanged, positioning it well in the market.
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