{"id":14358,"date":"2022-02-18T16:17:30","date_gmt":"2022-02-18T16:17:30","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=14358"},"modified":"2022-02-18T15:31:42","modified_gmt":"2022-02-18T15:31:42","slug":"south32-promises-further-green-aluminium-investment-as-profit-spikes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes","title":{"rendered":"South32 promises further green aluminium investment as profit spikes"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>South32 Ltd on Thursday reported a bumper first half with a 57% rise in revenue driving a surge in profit, but operational challenges remain.<\/p>\n

South32 shares were up 1.6% to ZAR49.28 each in Johannesburg on Thursday morning, and were up 2.8% to 240.50 at the equities open in London. The stock closed up 1.1% at AUD4.50 in Sydney.<\/p>\n

For the six months to December 31, the Perth-based diversified miner reported pretax profit from continuing operations of USD1.46 billion, soaring from just USD155 million a year prior.<\/p>\n

This was off a 57% jump in revenue to USD3.65 billion from USD2.32 billion.<\/p>\n

South32\u2019s operating margin rose to 44% from 24% the year before, thanks to strong production and high operating leverage, the company said.<\/p>\n

\u201cOur business is in excellent financial health and we have continued to reshape our portfolio, with the planned acquisition of a 45% stake in the Sierra Gorda copper mine [in Mexico], and further investment in green aluminium,\u201d Chief Executive Graham Kerr said.<\/p>\n

Last September, South32 bought a further 25% stake in Mozal aluminium from Mitsubishi Corp subsidiary MCA Metals Holding GmbH for USD250 million, taking its ownership of the smelter up to 72%.<\/p>\n

Mozal Aluminium is an aluminium smelter located near Maputo, Mozambique. The operation is jointly owned by South32, Mitsubishi, the Industrial Development Corp of South Africa and the Mozambican government.<\/p>\n

The Perth-based diversified miner upped its interim dividend to 8.7 US cents from just 1.4 cents a year before.<\/p>\n

South32 also mentioned that operations continued to be hindered by Covid-19 which was hurting worker availability.<\/p>\n

Looking ahead, South32 lowered its financial 2022 guidance for Australia manganese by 9% to 3.2 million wet metric tonnes.<\/p>\n

Australia-based Illawarra metallurgical coal guidance was revised 7% lower for financial 2022 to 6.8 million tonnes, while the Australia-based Cannington zinc, silver, and led project saw guidance revised up by 5% to 2.8 million dry metric tonnes.<\/p>\n

\u201cLooking ahead, we are well positioned to capitalise on current market conditions as countries continue their economic recovery from Covid-19, and into the future as they invest in new infrastructure that is expected to see continued growth in demand for the metals critical for a low carbon future,\u201d Kerr said.<\/p>\n

By<\/b><\/p>\n

Greg Roxburgh<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. South32 Ltd on Thursday reported a bumper first half with a 57% rise in revenue driving a surge in profit, but operational challenges remain. South32 shares were up 1.6% to ZAR49.28 each in Johannesburg on Thursday morning, and were up 2.8% to 240.50 at the equities open in London. The stock closed […]<\/p>\n","protected":false},"author":84,"featured_media":14356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-14358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nSouth32 promises further green aluminium investment as profit spikes - Mozambique<\/title>\n<meta name=\"description\" content=\"South32 Ltd on Thursday reported a bumper first half with a 57% rise in revenue driving a surge in profit, but operation ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South32 promises further green aluminium investment as profit spikes\" \/>\n<meta property=\"og:description\" content=\"South32 Ltd on Thursday reported a bumper first half with a 57% rise in revenue driving a surge in profit, but operation ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-18T16:17:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/02\/img-620fbbc354b6a.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"957\" \/>\n\t<meta property=\"og:image:height\" content=\"639\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South32 promises further green aluminium investment as profit spikes\",\"datePublished\":\"2022-02-18T16:17:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes\"},\"wordCount\":368,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/02\/img-620fbbc354b6a.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/south32-promises-further-green-aluminium-investment-as-profit-spikes\",\"name\":\"South32 promises further green aluminium investment as profit spikes - 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