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S32 - South32 Limited

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Sean K said:
So, it wasn't just the impairment charges but green tape issues. Hard to be a miner these days. I wonder when the pendulum swings back.


View attachment 181277
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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.
 
sptrawler said:
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.
Click to expand...
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 )
 
There it is
 

Attachments

  • South32-Ltd-(S32AX)-4Q-FY24-result-Reduces-aluminaCuZn-FY25-guidance;-appears-oversold-on-Wors...PDF
    2.4 MB · Views: 12
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

 
Good morning
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
 
finicky said:
Doubt the stock of this lumbering DEI beast is something I'll ever be buying again.
Click to expand...
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
 
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
 
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.
 
Good afternoon



Hmmmmmmm ...

Daily Chart

Not holding
Have traded

Have a very nice week.

Kind regards
rcw1
 
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.
Held
 
South32 shares have dropped after the miner withdrew production guidance for its aluminum smelter in Mozambique because of widespread and deadly protests in the south-east African nation.

The transport of raw materials to the Mozal plant is being impacted by road blockages, the company said, but the workforce is safe and there have been no security incidents. The miner had forecast 360,000 tonnes of aluminum output from the smelter, which is near the capital, Maputo, in the financial year through to June 2025.

Mozambique has been rocked by protests over disputed elections in early October. At least 100 fatalities have been reported, most of them demonstrators shot during clashes with police. Hundreds more people have been injured and thousands arrested.

“There’s a large amount of civil unrest there, so that’s having some impact on our ability to move supplies around,” South32 chief executive Graham Kerr said in an interview. “It’s manageable at this stage. It’s something we need to watch.”

South32 has implemented contingency plans to mitigate operational impacts, it said in the filing, without providing further details.

Aluminum is Mozambique’s third-biggest export earner, with Mozal accounting for $1.1 billion of exports last year, according to the central bank.

The unrest has escalated in recent days, with South Africa indefinitely closing the main border crossing with Mozambique, which is a transit point for South Africa’s chrome exports en route to the port in Maputo
 
Good morning

3 minute chart


An announcement on Friday (13/12/24) - see attached regarding the Worsley Mine Development Project and the previous announcement that the Western Australian Environmental Protection Authority (WA EPA) recommended the Project be approved, subject to conditions.

In part (13/12/24):
On 12 December 2024, the Western Australian Minister for Environment determined the appeal outcome for the Project. We are pleased to advise that the Minister has determined after considering available information, that the EPA’s assessment and overall conclusion that the Project may be implemented, subject to conditions, is reasonable.

Further, the Minister has agreed with the Appeals Committee’s recommendations to amend specific conditions based on the arguments presented during the appeals process, including by Worsley Alumina. A copy of the Minister’s determination and the Appeals Committee report to the Minister is available at: https://www.wa.gov.au/organisation/office-of-the-appeals-convenor.

The Minister’s determination is a positive outcome for Worsley Alumina.
 

Attachments

  • Worsley-Alumina-Approvals-Update.PDF
    67.5 KB · Views: 0
Just been having a gander at S32. It's been some time since I looked at this mob.
Not too much movement in the SP, though a fair number of shares changed hands.
For me a bit more in the High and low might get me interested once again.
 
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