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I did mention a while back, that the ruler will be run over these alumina operations, I can't see how they will be viable, with the environmental and emissions issues.
Watch this space IMO.
S32 - South32 Limited
- Thread starter UMike
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Watch this space IMO.
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the NZ smelters are having similar concerns and most of the NZ power utilities use hydro , geothermal ,gas ( and coal as a back-up )
so are much more 'eco-friendly than the Aussie counterparts
( i hold S32 , GNE , MCY and MEZ )
so i don't know who is going to supply the aluminum the West needs ( Russia and China will be just fine )
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Not a report I understand so I'll stick with the statutory bottom line:
NPAT loss US$203m
Doubt the stock of this lumbering DEI beast is something I'll ever be buying again.
Held
NPAT loss US$203m
Doubt the stock of this lumbering DEI beast is something I'll ever be buying again.
Held
Good morning
Article published today (29/08/24) via News Corp media
South32 will buy back $US200m in shares following the sale of its Illawarra coal assets which will close later on Thursday, as it reported a steep fall in underlying earnings.
Earnings including the contribution from the Illawarra assets, were 59 per cent lower at $US380m, on revenue of $US8.29bn, down 8 per cent. Revenue from the company’s continuing operations, excluding Illawarra, was $US5.48bn, down 3 per cent, and the company made a net loss of $US203m, 17 per cent worse than the previous year.
Chief executive Graham Kerr said the sale of the Illawarra coal assets simplified the portfolio, strengthened the balance sheet and unlocked capital to develop other projects. “In the near term, these investments include the development of the Taylor deposit and projects to grow our copper production at Sierra Gorda,’’ he said.
“In addition, we are seeking to increase our base metals exposure over the longer-term by investing in a pipeline of growth options which are being advanced through study phases and a portfolio of exploration prospects in highly prospective regions.’’
South32 finished the year with net debt of $US762m, down by $US329m.
The company said it expects to increase its low carbon aluminium output by 17 per cent this year as Brazil Aluminium continues to ramp up and Mozal Aluminium delivers its recovery plan, while copper production is expected to increase 15 per cent. South32 will pay a US3.1c dividend on October 17, compared with a $US3.2c dividend for the same period.
Not holding
Have traded
kind regards
rcw1
Article published today (29/08/24) via News Corp media
South32 in $200m buyback as earnings dip
South32 will buy back $US200m in shares following the sale of its Illawarra coal assets which will close later on Thursday, as it reported a steep fall in underlying earnings.
Earnings including the contribution from the Illawarra assets, were 59 per cent lower at $US380m, on revenue of $US8.29bn, down 8 per cent. Revenue from the company’s continuing operations, excluding Illawarra, was $US5.48bn, down 3 per cent, and the company made a net loss of $US203m, 17 per cent worse than the previous year.
Chief executive Graham Kerr said the sale of the Illawarra coal assets simplified the portfolio, strengthened the balance sheet and unlocked capital to develop other projects. “In the near term, these investments include the development of the Taylor deposit and projects to grow our copper production at Sierra Gorda,’’ he said.
“In addition, we are seeking to increase our base metals exposure over the longer-term by investing in a pipeline of growth options which are being advanced through study phases and a portfolio of exploration prospects in highly prospective regions.’’
South32 finished the year with net debt of $US762m, down by $US329m.
The company said it expects to increase its low carbon aluminium output by 17 per cent this year as Brazil Aluminium continues to ramp up and Mozal Aluminium delivers its recovery plan, while copper production is expected to increase 15 per cent. South32 will pay a US3.1c dividend on October 17, compared with a $US3.2c dividend for the same period.
Not holding
Have traded
kind regards
rcw1
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did you mean 'never ' ( be buying again )?
has certainly been making some intriguing ( but unattractive ) moves
i bought some ( to bulk up the BHP demerger shares ) in $2019 @ $2.63 , sold some in 2023 @ $4.40
we look to be heading towards a mining cycle downturn , but they are buying back shares instead of reducing debt/boosting the war-chest
i cannot see a compelling reason to reach for the calculator while the SP is north of $2
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Yeah. But that's what I implied, I said I doubt that I'll ever buy again
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going to have to do some things way better to entice me ( to buy more )
i was hoping S32 would have a swag of wannabes , out to impress the mega-caps ( and score a nice offer )
ah well
there is always a chance of a take-over in the next commodity up-cycle
i was hoping S32 would have a swag of wannabes , out to impress the mega-caps ( and score a nice offer )
ah well
there is always a chance of a take-over in the next commodity up-cycle
Sean K
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Might break even on this foofer soon.
The White House’s scramble to secure critical minerals has played to Australian mining giant South32’s strength, with the US government selecting its Hermosa zinc and manganese project for a $US166m ($244m) grant.
South32 said its Hermosa project, located in a historic mining district in the Patagonia Mountains of southern Arizona, has been picked by the Department of Energy (DOE) for a grant deal from its Battery Materials Processing and Battery Manufacturing program.
The Hermosa project has huge potential for the US government to gain access to critical minerals given there has been no manganese ore mining in the US since the 1970s, and more than 95 per cent of the production of battery-grade manganese is in China.
While the development of the deposit at Hermosa is subject to further study, it represents a significant opportunity to establish a North American supply chain of battery-grade manganese, South32 said at the weekend.
On a cost-share basis, the DOE will provide 30 per cent of the cost of the manganese production facility, up to the grant award of $US166m.
The White House’s scramble to secure critical minerals has played to Australian mining giant South32’s strength, with the US government selecting its Hermosa zinc and manganese project for a $US166m ($244m) grant.
South32 said its Hermosa project, located in a historic mining district in the Patagonia Mountains of southern Arizona, has been picked by the Department of Energy (DOE) for a grant deal from its Battery Materials Processing and Battery Manufacturing program.
The Hermosa project has huge potential for the US government to gain access to critical minerals given there has been no manganese ore mining in the US since the 1970s, and more than 95 per cent of the production of battery-grade manganese is in China.
While the development of the deposit at Hermosa is subject to further study, it represents a significant opportunity to establish a North American supply chain of battery-grade manganese, South32 said at the weekend.
On a cost-share basis, the DOE will provide 30 per cent of the cost of the manganese production facility, up to the grant award of $US166m.
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4.6c per share Australian, I'll be painting the town red with that.
Held
Held
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Market Matters arvo report
- South32 (S32) +4% had the added kicker of news that bauxite exports have been suspended in Guinea. Guinea supplies approximately 70% of China’s bauxite and is a key component in aluminium production.
