Australian miner South32 increased its manganese ore operating margin to 64% in the six months to December 31, 2018, it revealed in its half-yearly results presentation on Thursday February 14.
Manganese ore generated the company's highest operating margin during the period, the first half of its 2018-19 financial year. This was up from 60% for the corresponding months of the 2017-18 year.In comparison, South32's other major divisions, metallurgical coal and alumina, generated operating margins of 51% and 47% respectively in July-December 2018, while the miner's overall operating margin was 38%.Manganese ore contributed 30% of the company's underlying earnings before interest, taxes, depreciation and amortization (Ebitda), while manganese alloy contributed a further 2%.Alumina contributed 35% and aluminium 2%, while metallurgical coal contributed 19%.South32 announced in January 2019 that it...