South32 on track for 2016/17 output target
2017-01-19 18:46:49 [Print]
BEIJING (Asian Metal) 19 Jan 17 -Although South32 has announced lower first-half production in several of its commodities, the company notes that it remains on track to achieve full-year guidance for the majority of its operations.
South32’s performance was affected by lower output in the three months to December, with the company reporting a decline in coal, manganese alloy, silver and lead volumes.
That led to lower first-half output for most of its commodities despite the small rises in production reported by the company for manganese ore, zinc and alumina during the six-month period.
South32, which took advantage of the surge in prices of manganese ore in recent months, raised production in the December quarter by 6% to 1.25 million tonnes.
However, the company failed to take advantage of a similar rise in coal prices because of a forced temporary shutdown at its troubled Illawarra Metallurgical Coal operations in Australia, and planned maintenance at its South African operations hit production.
Thermal coal output slipped 8% in H1 of the fiscal year, while coking coal production decreased 14% compared with a year ago.
According to the report released by South32, it recorded a 2% decline in first-half alumina output, a 27% drop in silver production and a 24% fall in lead output.
South32’s performance was affected by lower output in the three months to December, with the company reporting a decline in coal, manganese alloy, silver and lead volumes.
That led to lower first-half output for most of its commodities despite the small rises in production reported by the company for manganese ore, zinc and alumina during the six-month period.
South32, which took advantage of the surge in prices of manganese ore in recent months, raised production in the December quarter by 6% to 1.25 million tonnes.
However, the company failed to take advantage of a similar rise in coal prices because of a forced temporary shutdown at its troubled Illawarra Metallurgical Coal operations in Australia, and planned maintenance at its South African operations hit production.
Thermal coal output slipped 8% in H1 of the fiscal year, while coking coal production decreased 14% compared with a year ago.
According to the report released by South32, it recorded a 2% decline in first-half alumina output, a 27% drop in silver production and a 24% fall in lead output.
