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[Ferro-Alloys.com] South32 Manganese Ore Quarterly Report till December 2025

South32 Chief Executive Officer, Graham Kerr: "We continued to deliver consistent operating results, with FY26 production guidance maintained across our operated assets and first half operating unit costs tracking in line with guidance. “Our consistent operating performance, combined with strengthening market conditions, enabled the Group to maintain a strong financial position while investing in our high-returning growth options and delivering returns to shareholders.

"Completing the divestment of Cerro Matoso during the quarter further simplified our business, consistent with our strategy to focus our portfolio on high-quality operations and growth options in base metals.

"We also progressed construction of Hermosa’s large-scale, long-life, Taylor zinc-lead-silver project, and completed the exploration decline for the Clark battery-grade manganese deposit.

“Sierra Gorda delivered strong copper volumes and cash returns, and we are pursuing further copper growth through our pipeline of development options and exploration prospects.

"During the quarter, our Ambler Metals joint venture approved a ~US$35M work program to advance the high-grade Arctic polymetallic deposit and test exploration targets within this underexplored, regional land package in Alaska."

The denotation (e) refers to an estimate or forecast year.

MARKETING UPDATE

AUSTRALIA MANGANESE (60% SHARE)

Australia Manganese saleable production increased to 1,660kwmt in the December 2025 half year, as the operation delivered planned volumes after executing its recovery plan following the impacts of Tropical Cyclone Megan. FY26 production guidance remains unchanged at 3,200kwmt, subject to potential impacts from the wet season.

Sales increased to 1,809kwmt in the December 2025 half year, as shipping rates reached full capacity following the of new wharf infrastructure, enabling a planned drawdown of inventory.

SOUTH AFRICA MANGANESE (54.6% SHARE)

South Africa Manganese saleable production decreased by 2% (or 25kwmt) to 1,057kwmt in the December 2025 half year, reflecting planned maintenance and underground development at Wessels. FY26 production guidance remains 2,,000kwmt, with further planned maintenance scheduled in the March 2026 quarter.

OPERATING PERFORMANCE

• [Editor:tianyawei]