21 OCTOBER 2025
We’ve released our Quarterly Report for September 2025, delivering another period of strong operating performance.
Production highlights included a 12 per cent increase in payable copper equivalent production at Sierra Gorda and a 33 per cent uplift in manganese volumes, as we successfully executed the operational recovery plan at Australia Manganese.
“We delivered another period of strong operating performance as we continued our focus on safe and reliable operations.” Said Graham Kerr, South32 Chief Executive Officer.
Alumina production increased by 1% as Brazil Alumina operated above nameplate capacity, while Worsley Alumina benefitted from improved bauxite supply and completed planned calciner maintenance.
Aluminium production increased by 1% as Hillside Aluminium continued to test its maximum technical capacity and Mozal Aluminium lifted production by 3%, despite the decision to stop pot relining due to uncertain future electricity supply.
FY26 production guidance remains unchanged across all operations.
Divestment of Cerro Matoso remains on track to be completed in the December 2025 quarter, further streamlining our portfolio towards higher-margin businesses in commodities critical to the global energy transition.
“Our financial position remains strong as we continued our investment in growth at Hermosa, supported by US$117 million in net distributions from our Sierra Gorda and manganese equity accounted investments during the quarter,” said Graham.
“At Hermosa, we continued critical path shaft sinking for our Taylor zinc-lead-silver project, while the exploration decline for the Clark battery-grade manganese deposit remains on track to be completed in the December 2025 quarter.
“In addition to Hermosa, we continue to advance a pipeline of high-quality base metals development and exploration options.
“We welcome the US Government's decision to support the establishment of the Ambler Access Road. This is a key step in unlocking the potential of the Ambler Mining District, where we hold high-grade copper and zinc options.
“Looking ahead, we remain focused on maintaining our operating momentum and capitalising on strengthening market conditions in base metals.”