- Write by:
-
Monday, July 20, 2020 - 2:00:54 PM
-
436 Visit
-
Print
Mining News Pro - Diversified miner South32 has reported an increase in alumina and metallurgical coal production during the fourth quarter ended June, along with silver and lead production, while production for all other commodities was down on the previous quarter.
“Our priority remains keeping our people safe and well, maintaining reliable operations and supporting our communities through the Covid-19 pandemic,” said CEO Graham Kerr on Monday.
“Despite the health crisis, we delivered a strong operating result, highlighted by annual production records at Brazil Alumina, Hillside Aluminium and Australia Manganese Ore. We have continued to see good demand for our products, with sales exceeding production at the majority of our operations,” he added.
Alumina production for the fourth quarter was up by 6% on the previous quarter, to 1.35-million tonnes, and up by 4% in the full year to 5.2-million tonnes.
Aluminium production in the quarter remained stable at 245 000 t, and during the full year, at 986 000 t.
Energy coal production for the quarter dipped by 3% and for the full year was down by 8%, reaching 5.6-million and 24.1-million tonnes respectively, while metallurgical coal production in the quarter was up by 31%, to 1.5-million tonnes, and by 4% in the full year, to 5.5-million tonnes.
Manganese ore production in the quarter was down 6%, to 1.2-million tonnes, and down 3% in the full year to 5.3-million tonnes, while alloy production was down 11% in the quarter to 34 000 t, and down 27% in the full year to 163 000 t.
Nickel production for the quarter reached 9 700 t, and 40 600 t in the full year, while silver production in the quarter was 3.1-million ounces, and 11.7-million ounces in the full year. Lead production in the quarter reached 30 100 t, up 20%, while full year production was up 9% to 110 400 t, while zinc production declined 2% in the quarter to 16 900 t, but was up by 29% in the full year to 66 700 t.
“With uncertainty remaining in the global markets, we continue to manage our financial position to ensure we retain the right balance of flexibility, efficiency and prudence. We acted to protect our strong balance sheet by adjusting our capital expenditure priorities, suspending our on market share buy back and extending the tenor of our $1.45-billion revolving credit facility,” Kerr told shareholders.
“Our strong balance sheet and simple capital management framework are designed to reward shareholders as our financial performance improves.
“Looking forward, we remain focused on reducing controllable costs, managing counterparty and supply chain risks and optimising working capital to ensure the business remains resilient during a potentially extended period of volatility and lower commodity prices.”
Short Link:
https://www.miningnews.ir/En/News/570141
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
The world’s coal-fired power capacity grew 2% last year, its highest annual increase since 2016, driven by new builds in ...
Peabody Energy Corp. shares sunk to the lowest in seven months after the biggest US coal miner warned that first-quarter ...
Polish government is abandoning plans to separate coal-fired power plants into a special company and is considering ...
BMO Bank quietly dropped its policy restricting lending to the coal industry in late 2023, helping it avoid being ...
Vietnam’s top miner Vinacomin plans to invest 182 trillion dong ($7.3 billion) to ramp up its alumina-aluminum ...
Researchers at the University of Edinburgh discovered that bacteria found in areas polluted by acid mine drainage had ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
No comments have been posted yet ...