【Ferro-alloys.com】: South32 has reported a strong financial performance for the 2024–25 financial year (FY25), underpinned by higher commodity prices and a focus on critical minerals.

Revenue from continuing operations rose 17 per cent to $US5.78 billion, while underlying earnings jumped 75 per cent to $US666 million. Profit after tax lifted to $US213 million, compared to $US203 million in FY24.

South32 chief executive officer Graham Kerr said the company’s strong operating performance was matched by progress on key Australian projects.

“We increased our production of commodities critical to the global energy transition, delivering annual production growth of 20 per cent in copper and 6 per cent in aluminium,” Kerr said.

“Key operational milestones were achieved, with Worsley Alumina securing environmental approvals for new bauxite mining areas.”

Alumina output at Worsley fell slightly due to constrained ore supply but is expected to benefit from the approvals in coming years.

South32 also worked through recovery challenges at its Australia Manganese operations, where production was hit by Tropical Cyclone Megan in FY24. The operation completed its recovery plan and resumed export shipments in the June quarter, with production forecast to normalise in FY26.

In Queensland, the Cannington silver-lead-zinc mine was affected by complex underground conditions, prompting South32 to revise its mine plan.

The site will shift to lower planned mining volumes of about 1.8 million tonnes per annum from FY26 to FY31 to ensure reliable rates, while the company explores both underground extensions and a potential open pit to extend mine life.

Currently the mine life for Cannington sits at six years with an underground ore reserve of 10 million tonnes.

Reflecting the company’s overall performance, the board declared a fully franked final dividend of $US0.026 per share ($US117 million) and extended its $US2.5 billion capital management program.

“Looking ahead, we are focused on maintaining our strong operating momentum and capitalising on our transformed portfolio to deliver growth and returns for shareholders,” Kerr said.

• [Editor:Alakay]