Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSouth32 Share News (S32)

Share Price Information for South32 (S32)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 190.10
Bid: 190.10
Ask: 190.40
Change: -0.30 (-0.16%)
Spread: 0.30 (0.158%)
Open: 189.60
High: 191.60
Low: 188.10
Prev. Close: 190.10
S32 Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

South32 withdraws annual manganese production guidance after cyclone

Wed, 20th Mar 2024 06:16

(Alliance News) - South32 Ltd said on Wednesday it has withdrawn its annual production guidance for its manganese business Groote Eylandt Mining Co Pty Ltd, which remained temporarily suspended due to Tropical Cyclone Megan.

The Perth-based diversified mining group first reported it had shut down its manganese unit located on an island in Australia's Gulf of Carpentaria, citing the cyclone.

The miner said access to key infrastructure has been restored to enable an initial assessment of the impact of the cyclone, as weather conditions have eased on the Eylandt.

It noted that initial assessments had identified flooding in the mining pits, as well as "significant" damage to a critical haul road bridge that connects the northern pits of the Western Leases mining area and the processing plant. "Significant structural damage to the wharf and port infrastructure has now also been confirmed," it said.

"Further assessment of the full impact of the damage is ongoing and will inform recovery plans, with a view to returning to safe operations as soon possible. Alternative shipping arrangements are also being evaluated," South32 said.

South32 withdrew its annual guidance for Australia Manganese. Last month, it guided for manganese ore production of 3.4 million wet tonnes for the financial year ending June 30, from 3.5 million wet tonnes a year earlier.

The company said it will provide further update when it releases third-quarter results on April 22.

In Sydney, South32 shares fell 4.5% to AUD2.98 on Wednesday.

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
4 Jan 2021 09:30

UK BROKER RATINGS SUMMARY: Citi Lifts IAG To Buy, Cuts easyJet To Sell

UK BROKER RATINGS SUMMARY: Citi Lifts IAG To Buy, Cuts easyJet To Sell

Read more
23 Dec 2020 09:34

South32's Sale Of Coal Subsidiary Approved By SA Competition Authority

South32's Sale Of Coal Subsidiary Approved By SA Competition Authority

Read more
21 Dec 2020 06:33

South32 Progresses On Coal Unit Sale; Hillside Supply Deal Submitted

South32 Progresses On Coal Unit Sale; Hillside Supply Deal Submitted

Read more
24 Nov 2020 09:58

UK BROKER RATINGS SUMMARY: HSBC Downgrades NatWest And Lloyds To Hold

UK BROKER RATINGS SUMMARY: HSBC Downgrades NatWest And Lloyds To Hold

Read more
5 Nov 2020 15:26

DIRECTOR DEALINGS: South32 Non-Exec Wayne Osborn Buys 48,000 Shares

DIRECTOR DEALINGS: South32 Non-Exec Wayne Osborn Buys 48,000 Shares

Read more
19 Oct 2020 09:54

South32 Maintains Production Guidance After "Another Strong Quarter"

South32 Maintains Production Guidance After "Another Strong Quarter"

Read more
21 Aug 2020 09:36

UK BROKER RATINGS SUMMARY: Deutsche Bank Cuts Antofagasta And Bellway

UK BROKER RATINGS SUMMARY: Deutsche Bank Cuts Antofagasta And Bellway

Read more
20 Aug 2020 10:02

South32 Full-Year Profit Tumbles But Share Buyback Extended By Year

South32 Full-Year Profit Tumbles But Share Buyback Extended By Year

Read more
21 Jul 2020 09:24

UK BROKER RATINGS SUMMARY: Barclays Raises Babcock To Overweight

UK BROKER RATINGS SUMMARY: Barclays Raises Babcock To Overweight

Read more
20 Jul 2020 11:37

South32 To Book Charges On Smelters; Production Performance Mixed

South32 To Book Charges On Smelters; Production Performance Mixed

Read more
8 Jul 2020 09:50

UK BROKER RATINGS SUMMARY: Goldman Cuts Rio Tinto To Neutral From Buy

UK BROKER RATINGS SUMMARY: Goldman Cuts Rio Tinto To Neutral From Buy

Read more
25 Jun 2020 09:25

UK BROKER RATINGS SUMMARY: RBC Likes Centamin But Cuts Hochschild

UK BROKER RATINGS SUMMARY: RBC Likes Centamin But Cuts Hochschild

Read more
4 Jun 2020 09:33

UK BROKER RATINGS SUMMARY: Morgan Stanley Upgrades Smith & Nephew

UK BROKER RATINGS SUMMARY: Morgan Stanley Upgrades Smith & Nephew

Read more
12 May 2020 11:32

South32 Clark Deposit Estimated To Hold 55 Million Tonne Resources

South32 Clark Deposit Estimated To Hold 55 Million Tonne Resources

Read more
12 May 2020 09:42

UK BROKER RATINGS SUMMARY: Morgan Stanley Weighs In On UK Retailers

UK BROKER RATINGS SUMMARY: Morgan Stanley Weighs In On UK Retailers

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.