(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