
28 AUGUST 2025
We’ve published our financial results and Annual Reporting Suite for the 2025 financial year, reflecting increased production of minerals and metals critical to the global energy transition.
See our Financial Results and Outlook for the Year Ended 30 June 2025
See our 2025 Annual Reporting Suite
During the year we delivered annual production growth of 20 per cent in copper and 6 per cent in aluminium.
South32 CEO Graham Kerr said: "Strong operating performance during the year enabled us to capitalise on improved commodity prices, with Underlying EBITDA increasing to US$1.9 billion and Underlying earnings increasing to US$666 million.
“Key operational milestones were achieved, with Worsley Alumina securing environmental approvals for new bauxite mining areas, and Australia Manganese completing its operational recovery plan following the impacts of Tropical Cyclone Megan.”
Operating free cash flow increased by US$272M and we improved our net cash position by US$885M to US$123M, supported by proceeds from the sale of Illawarra Metallurgical Coal in August 2024.
At the same time, we invested US$517M to grow our future base metals production at Hermosa, and returned US$350M to shareholders.
Graham continued: "We continued our portfolio transformation with the sale of Illawarra Metallurgical Coal and a binding agreement to divest Cerro Matoso, which further streamline our portfolio towards critical minerals, reduce complexity and unlock capital to invest in higher-returning growth options.”
“We increased our investment in base metals growth projects, advancing construction of our large-scale, long-life Taylor zinc-lead-silver project at Hermosa, and progressing our pipeline of copper options in study and exploration phases.”
We are progressing work to unlock value across Hermosa’s highly prospective land package and today announced an upgraded Mineral Resource for the Peake deposit.
Exploration results from Peake support the potential for a copper dominant mineralised system and we are continuing study work on the potential to add copper production from Peake, leveraging the infrastructure established for Taylor.
“Reflecting our strong financial performance and disciplined approach to capital allocation, today we have announced a fully-franked ordinary dividend of US$117 million (US 2.6 cents per share) in respect of the June 2025 half year, and a twelve month extension of our capital management program, with US$144 million remaining to be returned to shareholders.”
“Looking ahead, we are focused on maintaining our strong operating momentum and capitalising on our transformed portfolio to deliver growth and returns for shareholders.”