22 APRIL 2026
We’ve released our Quarterly Report for March 2026, with our teams delivering several strong operating results despite adverse weather impacts.
“Our thoughts and deepest sympathies remain with the family, friends and colleagues of Mr Simon Mukwarami, who was fatally injured in an incident at Worsley Alumina on 14 March,” said Graham Kerr, South32 Chief Executive Officer.
"We know we must have a relentless focus on safety in everything we do. There is no acceptable outcome other than our people going home safe and well at the end of every shift.”
In the March quarter, Hillside Aluminium continued to test its maximum technical capacity, capitalising on higher aluminium prices, while Brazil Alumina achieved record year to date production, and Sierra Gorda made a record quarterly distribution of US$135 million.
Annual production guidance has been maintained for all operations except Australia Manganese, where we continued to manage elevated site water levels in addition to the impacts of wet season rainfall and Tropical Cyclone Narelle in the quarter.
Cannington mitigated impacts from significant floods in northwest Queensland and remains on track to deliver production guidance and higher sales volumes in the June 2026 quarter, with third-party rail access restored late in the quarter.
“Operating performance coupled with commodity price tailwinds delivered net cash generation of US$121 million in the March quarter, after investment in growth of US$158 million as we advanced construction of Hermosa's Taylor zinc-lead-silver project,” said Graham.
“Our strong balance sheet leaves us well placed to manage short-term volatility in global markets, while continuing shareholder returns and investing in high-quality growth options to increase our production of copper, zinc and silver.”
The Hermosa project reached a key milestone in FAST-41 federal permitting during the quarter, with issuance of the Final Environmental Impact Statement and Draft Record of Decision.
We have also implemented measures across our operations to mitigate potential supply chain impacts arising from the conflict in the Middle East. While not currently experiencing diesel fuel shortages, we continue to closely monitor the situation.