25 July 2022

Today we released our June 2022 Quarterly Report, highlighting a strong operating performance in the quarter, despite challenges including extreme weather, supply chain disruptions and reduced labour availability caused by the COVID-19 pandemic. 

Worsley Alumina achieved record annual production in FY22, exceeding guidance and operating above nameplate capacity, benefitting from embedded improvement initiatives. Cannington beat our previously upgraded FY22 zinc equivalent production guidance by two per cent, successfully transitioning to a 100 per cent truck haulage operation in the June quarter. Cerro Matoso achieved a 22 per cent increase in payable nickel production, despite unplanned maintenance and weather-related disruptions impacting the operation in the second half of the year. In the June quarter, South Africa Manganese delivered record quarterly production and we increased our total manganese production by 22 per cent, supporting higher sales with customer demand for our premium products delivering strong price realisations. 

During the period, we achieved further significant milestones as we reshape our portfolio towards the metals critical for a low carbon future. In May, we completed the acquisition of an additional shareholding in the hydro-powered Mozal Aluminium smelter. We also completed our acquisition of an additional interest in the MRN bauxite mine and delivered first production from the restart of our Brazil Aluminium smelter, powered by 100 per cent cost efficient renewable power. 

Our stable operating performance allowed us to capitalise on record conditions for a number of our commodities, with strong sales in the June 2022 quarter capturing the benefit of high prices.  

Our strong financial position and capital management framework, which is designed to reward our shareholders as our financial performance improves, supported further returns across the year via our on-market share buy-back, bringing total returns under our capital management program to US$1.9 billion since its inception. 

Read the full report:

June 2022 Quarterly Report