South32 reports manganese ore output of 1.23 million wmt in Apr-Jun
2020-07-20 11:20:31 [Print]
Australia's South32 Ltd. on Monday posted a smaller-than-expected drop in its manganese ore output from April to June and said it would book a near $100 million non-cash impairment charge on its manganese alloy smelters owing to lower economic viability.
The world's largest producer of manganese ore produced 1.23 million wet metric tonnes (wmt) of the commodity in the period, compared with 1.29 million wmt a year earlier.
While its Australian manganese output remained robust, ore output from South Africa operations fell 35% in this period, as virus-prompted restrictions disrupted logistics and halted or slowed mining, as warned earlier.
Following a review, South32 said it had decided to put its manganese alloy smelter Metalloys in South Africa on temporary care and maintenance, while a review of its other smelter, TEMCO in Australia, has been temporarily delayed due to the pandemic.
The miner said it would book a post-tax, non-cash impairment of around $95 million in its 2020 financial results on both smelters.
The world's largest producer of manganese ore produced 1.23 million wet metric tonnes (wmt) of the commodity in the period, compared with 1.29 million wmt a year earlier.
While its Australian manganese output remained robust, ore output from South Africa operations fell 35% in this period, as virus-prompted restrictions disrupted logistics and halted or slowed mining, as warned earlier.
Following a review, South32 said it had decided to put its manganese alloy smelter Metalloys in South Africa on temporary care and maintenance, while a review of its other smelter, TEMCO in Australia, has been temporarily delayed due to the pandemic.
The miner said it would book a post-tax, non-cash impairment of around $95 million in its 2020 financial results on both smelters.
Manganese Ore S.A. 36%min In Qinzhou Port
Unit:RMB/mtu
China manganese lump producers' output statistics by province by month
Unit: mt
