South32 Ltd. (AU:S32) has released an update.
South32 Ltd. reported a robust operating performance in FY24, achieving 98% of its copper equivalent production guidance and maintaining operational costs in line with expectations. The company saw strong sales in the June 2024 quarter due to higher commodity prices, and it made significant progress in its portfolio transformation, including construction at Hermosa’s Taylor zinc-lead-silver deposit. Despite some production setbacks, such as a 15% decline in Sierra Gorda copper production and a 24% reduction in Illawarra Metallurgical Coal, the company is poised to complete the sale of the latter, which will streamline its operations and focus on critical commodities for the energy transition.
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