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(Alliance News) - South32 Ltd on Thursday reported mixed production results for the second half of last year, but still saw record production at three of its sites.
The Perth-based mining and metals company with operations in countries including Australia, Brazil and South Africa said metallurgical coal production in the first half ended December 31 was up 14% to 3.3 million tonnes from 2.9 million tonnes a year prior.
On the other side, manganese alloy production was the worst performer, down 44% year-on-year to 51,000 tonnes from 91,000 tonnes.
Payable nickel production was down 22% at 16,100 tonnes from 20,600 tonnes a year before.
Aluminium production was flat to the year before at 496,000 tonnes.
South32 saw record year to date production at three sites: Worsley Alumina in the South West of Australia, Brazil Alumina and Australia Manganese.
Alumina production was up only slightly however at 2.7 million tonnes, 3.8% higher than last year's 2.6 million tonnes.
Chief Executive Graham Kerr said: "This was another period of strong operating performance across our business, with three of our operations setting production records for the half year."
He added: "We're in a strong financial position, resuming our on-market share buy-back program in October. Our unchanged capital management framework and disciplined approach to capital allocation is designed to reward shareholders as supportive market conditions translate to financial performance.
"The ongoing transformation of our portfolio continues to gain momentum as we focus on exiting lower returning businesses and work towards increasing our base metals exposure."
South32 shares were down 0.3% at ZAR30.42 each in Johannesburg and down 0.4% at 148.38 pence in London. They closed down 0.4% at AUD2.66 in Sydney.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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