South32 reports lower base metals production in September quarter, maintains its guidance

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - South32 reported today thatit has recorded sequentially lower base metals production in September quarter2021, with Cerro Matoso impacted by a temporary equipment outage, whileCannington extracted a planned series of lower grade stopes.

The company said that duringthe quarter, it produced 9.6 ktonnes of nickel (previous quarter: 10.9ktonnes), 3,493 koz of silver (previous quarter: 4,178 koz), 31.9 ktonnes oflead (previous quarter: 41.2 ktonnes) and 15.4 ktonnes of zinc (previousquarter: 19.5 ktonnes).

On the other hand, South32added it has achieved a 7% increase in manganese production, with a quarterlyrecord at South Africa Manganese and a strong start to the year at AustraliaManganese.

Moreover, the company has maintainedproduction above nameplate capacity at Worsley Alumina, with the operationcontinuing to benefit from improvement initiatives.

The company also restoredproduction to normalised rates at Brazil Alumina in October, following anincident that damaged one of the bauxite unloaders at the refinery in July 2021;and increased production at Mozal Aluminium, with smelter productivitybenefitting from its investment in the AP3XLE energy efficiency technology.

Importantly, South32 pointedout that it has maintained its FY22 production guidance with the company'soperations continuing to deliver to plan, taking advantage of rising commodityprices.

South32 is a globallydiversified mining and metals company producing bauxite, alumina, aluminium,energy and metallurgical coal, manganese, nickel, silver, lead and zinc inAustralia, Southern Africa and South America.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold