SOUTH32 LTD

South32 reports an updated ore reserve estimate for the Sierra Gorda mine of 1,100 million tonnes, an increase of 61%; the average grade is 0.39% total copper (0.46% Cu-equivalent). The mineral resource is stated at 1,870 million tonnes. The reserve extension extends the mine life by around five years to 2045. The already approved fourth mill is expected to raise processing capacity from 135,000 t/day to 165,000 t/day from 2031 and increase production by about 30%. » Plus sur de.investing.com

South32 reports adjusted EBITDA of $174 million in the first half of 2026, up 18.4% year-on-year, supported by higher coal prices and operational improvements. Saleable production remained stable at 6.5 million tonnes, and the company confirms its full-year guidance of 12.8–13.4 million tonnes, expecting to reach the top end. South32 announced no interim dividend, improved balance sheet flexibility through refinancings and cut interest costs by 100 basis points; the shares rose 4.48% following the update. Management expects a stronger second half and is focusing on operational efficiency and several development projects for further growth. » Plus sur de.investing.com

South32 shares gained around 4.4% after the company beat production forecasts for the June quarter of fiscal 2026 and increased quarterly sales volumes by 15%. Aluminium production was 1% above forecast, Sierra Gorda exceeded its target by 2%, and Cannington recorded a 29% year-on-year increase (2% above forecast). South32 is also advancing a portfolio realignment, including the planned sale of its aluminium value chain to Alcoa (up to USD 5.6 billion), approval for a fourth grinding plant at Sierra Gorda, and the final federal approval for the Hermosa project in Arizona. » Plus sur de.investing.com