On Monday, July 25, South32 has reported strong operating results for FY2022 and the June quater, with Worsley Alumina operation, one of the world’s largest refineries, booking a record annual production. As per the report, Worsley has posted a 1 per cent growth in annual production to 3.99 million tonnes at the end of June, which exceeded the company’s guidance and nameplate capacity.
South32’s total alumina production in FY2022 stood at 5.288 million tonnes, down by 1 per cent from 5.361 million tonnes in the previous year, but its output in the fourth quarter grew by 3 per cent Q-o-Q to 1.361 million tonnes.
Annual aluminium production, on the other hand, grew by 1 per cent over the year to 992,000 tonnes during FY2022, while the output in the June quarter improved by 5 per cent from 243,000 tonnes in Q3 to 255,000 tonnes in Q4.
All this South32 has achieved despite extreme weather, supply chain disruptions, and reduced workforce caused by the COVID-19 pandemic.
South32’s chief executive Graham Kerr has said that the company achieved significant milestone as it has reshaped its portfolio to low-carbon future.
He says, “Our strong financial position and capital management framework, which is designed to reward our shareholders as our financial performance improves, supported further returns across the year via our on-market share buy-back, bringing total returns under our capital management program to $US1.9 billion since its inception.”
South32 has also said that its strong operating performance has enabled it to achieve significant sales in the June quarter, while capturing benefits from high raw material costs. The miner has also reaped benefits from depreciating currency movements in Australia that allowed its operating costs to come in line with previously updated guidance.
South32 has also revealed in its report that it expanded its share of aluminium production by 5 per cent in the June quarter on acquiring an additional shareholding in the hydro-powered Mozal Aluminium smelter.
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