
Solid showing from South32
South32 remains in a strong position with the release of its September quarterly report today, maintaining its FY21 production guidance across all operations. The company also delivered a US$70m increase in its cash position to reach a net cash balance of US$368m, a 23% lift from its FY20 US$298m. South32 chief executive Graham Kerr said this quarter shows strong operating performance and a further strengthening of the company’s financial position despite the continued health crisis. “We delivered a 19% increase in manganese ore production and a 22% increase in metallurgical coal production,” Mr Kerr said. “During the quarter we continued our work to reshape and improve our portfolio, progressing the divestment of South Africa Energy Coal and entering into a…