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☆ Australian miner South32's met coal output falls on Illawarra disruptions
▼ + stars: | 2023-10-23 | by ( John Biju | ) www.reuters.com time to read: +2 min

A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. As a result, production volumes at Illawarra operations are expected to be weighted to the second half of fiscal 2024, the miner said. Regardless, South32 kept its forecast of 4.4 million metric tons of annual metallurgical coal output from Illawarra, down from last year's 5.5 million tons. Production of metallurgical coal fell to 1.0 million tons in the three months to Sept. 30, from 1.3 million tons a year earlier. That was slightly lower than a consensus estimate of 1.1 million tons compiled by Visible Alpha.

Persons: South32, David Gray, Graham Kerr, John Biju, Roushni Nair, Lisa Shumaker, Jamie Freed, Subhranshu Organizations: REUTERS, Citi, Alpha, Thomson Locations: Perth, Western Australia, New South Wales, Illawarra, Bengaluru

☆ Australia's South32's Q1 metallurgical coal output falls on Illawarra bottlenecks
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo Acquire Licensing RightsCompanies South32 Ltd FollowOct 23 (Reuters) - Diversified miner South32 (S32.AX) posted an 18% drop in first-quarter metallurgical coal output on Monday, as production was affected by disruptions at its Illawarra project in New South Wales. South32, the world's biggest producer of manganese, is facing operational headwinds at its Illawarra Metallurgical Coal project after the miner undertook an extended planned longwall move at the Dendrobium mine. The Perth-based miner said production of metallurgical coal, used to make steel, fell to 1.0 million metric tons in the three months to Sept. 30, from 1.3 million metric tons a year earlier. That was slightly lower than a consensus estimate of 1.1 million metric tons compiled by Visible Alpha.

Persons: South32, David Gray, John Biju, Roushni Nair, Lisa Shumaker Organizations: REUTERS, South32, Illawarra Metallurgical Coal, Alpha, Thomson Locations: Perth, Western Australia, New South Wales, Illawarra, Dendrobium, Bengaluru

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "It's pretty weak," said Sat Duhra, a portfolio manager at Janus Henderson who devises a macro score for countries by tracking seven factors including PMI surveys, real exchange rates, current accounts, growth estimates and liquidity. Even in Japan, the stock market success story of the year so far, portfolio manager Zuhair Khan at UBP Investments says he's shorting or avoiding companies reliant on China sales. However, I think more importantly, it has fallen short of initial expectations," said Jagdeep Ghuman, a portfolio manager for U.S. asset manager Nuveen. Reporting by Tom Westbrook and Rae Wee in Singapore, Dhara Ranasinghe in London and Summer Zhen and Xie Yu in Hong Kong.

Persons: Aly, Janus Henderson, Seema Shah, Zuhair Khan, Prashant Bhayani, it's, Jagdeep Ghuman, Nuveen, Tom Westbrook, Rae Wee, Dhara, Zhen, Xie Yu, Sam Holmes Organizations: REUTERS, Rights, BHP, PMI, Global Investors, UBP Investments, Vegas Sands, Wealth Management, U.S, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, London, Bangkok, Zealand, Europe, Thailand, Asia, Japan, Singapore, Hong Kong

☆ Worker strike at South32's Appin mine extended by a week - trade union
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

A sign adorns the building where Australian miner South32 has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo Acquire Licensing RightsCompanies South32 Ltd FollowAug 22 (Reuters) - Australian trade union Collieries' Staff and Officials Association (CSOA) on Tuesday said mining supervisors voted to extend their work stoppage at South32's (S32.AX) Appin mine for one more week. The strike, which was due to end on Aug. 25, has been extended till Sept. 1. A South32 spokesperson told Reuters that some parts of the mine, located in New South Wales, will remain non-operational during the strike. Reporting by Himanshi Akhand and Sameer Manekar in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: South32, David Gray, Belinda Giblin, Himanshi Akhand, Sameer Manekar, Varun Organizations: REUTERS, Collieries ' Staff, Association, Reuters, Thomson Locations: Perth, Western Australia, New South Wales, Bengaluru

☆ South32 takes $1.3 billion hit against Hermosa; Q4 output steady
▼ + stars: | 2023-07-24 | by ( Navya Mittal | Rishav Chatterjee | ) www.reuters.com time to read: +2 min

(Reuters) -Australian diversified miner South32 on Monday said it will take an about $1.3 billion one-off charge in fiscal 2023 against its Hermosa project in Arizona, even as the company restored output at most of its operations in the fourth quarter. FILE PHOTO: The logo of Australian miner South32 can be seen at the venue of a media conference in Perth, Western Australia, November 18, 2015. Shares fell as much as 2.6% to A$3.72 as of 0344 GMT to hit their lowest in about two weeks. For the full year, manganese ore output jumped 4% to 5,653 kwmt. Output of metallurgical coal, the miner’s biggest revenue-generating commodity, jumped 9% to 1,504 thousand tonnes (kt) for the June quarter, while annual output slipped 4% to 5,497 kt.

Persons: South32, David Gray, Taylor, ”, Graham Kerr, ” Kerr, Josh Gilbert, Josh Organizations: Reuters, REUTERS, BHP Group, eToro AUS, “ Locations: Australian, Hermosa, Arizona, Perth, Western Australia

☆ Australia's South32 is probably our 'favorite diversified miner,' wealth management firm says
▼ + stars: | 2023-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralia's South32 is probably our 'favorite diversified miner,' wealth management firm saysMartin Crabb of Shaw and Partners says it doesn't like iron ore and is looking for exposure to base metals that are "not too iron ore-heavy."

☆ South32 sees shipping delays tying up cash in inventory
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Jan 23 (Reuters) - Australian diversified miner South32 Ltd (S32.AX) on Monday reported production of key commodities that largely met expectations but noted that shipping snarls had led to an inventory buildup, impacting working capital. In its quarterly report, South32 met coal, aluminium and copper forecasts and slightly exceeded analyst estimates for manganese ore production, for which it is the world's biggest producer. "While production was inline, sales were impacted, leading to weaker-than-expected cash generation," said analyst Glyn Lawcock of Barrenjoey in Sydney. "This impact is most acute in our aluminium value chain in Southern Africa due to ongoing shipping delays." In manganese ore, South32 reported 1,477 kilotonnes (kt) of production, ahead of an RBC estimate by 7%.

LONDON, Jan 23 (Reuters) - Global aluminium production rose by a marginal 2.0% last year, a rate of growth that was down from 2.7% in 2021 and the slowest since 2019, according to the International Aluminium Institute (IAI). Global aluminium production by region change versus 2021EUROPE POWERS DOWNWestern European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. As ever more smelters switch to green energy sources, global aluminium production is ever more dependent on seasonally variable power availability. Such regional adjustments are now part and parcel of the global aluminium production landscape but they have injected a new degree of volatility into aluminium's previously slow-changing supply side.

But it is spreading across finance, energy, retail and aviation, threatening to push up labour costs in industries facing supply-chain bottlenecks and worker shortages. The turmoil is especially pronounced because union power was curtailed in Australia under laws in place since the 1990s. In the year to June, the average Australian wage rose 2.6%, compared with inflation of 6.1%, according to official data. Despite seven interest-rate hikes since May, inflation is set to climb further before subsiding in 2023, the government says. But in the current climate in Australia, workers are in no mood to back down.

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