South32 sets three annual production records in FY23

South32 (ASX:S32) has reported strong growth in aluminium, copper and manganese production, setting three annual production records in FY23.

Aluminium production increased 14% to 1133kt in FY23 as the Hillside aluminium smelter achieved record production and South32 benefitted from its investments in low-carbon aluminium capacity at Mazal aluminium and Brazil aluminium.

Group copper equivalent production increased 9% in the June 2023 quarter, bolstered by a return to stable operations following adverse weather and other temporary impacts in the prior quarter.

South32’s Australian and South African manganese operations achieved annual production records, delivering a 4% increase in manganese production in FY23 to 5653kwmt.

Further, base metals production increased 17% as South32 added the Sierra Gorda copper operation to its portfolio. Its Cannington zinc-lead-silver and Cerro Matoso nickel operations achieved revised guidance.

Chief executive Graham Kerr said the company has had a strong finish to the financial year.

“We had a strong finish to the year, with group copper equivalent production growing 9% in the quarter,” he said.

“Our strong operating results included record annual production at Hillside aluminium, Australia manganese and South Africa manganese.

“Aluminium production increased by 14% and base metals production by 17% in FY23, supported by our recent investments in commodities critical to a low-carbon future.”

South32 is continuing to advance decarbonisation programs to support its target of halving operational greenhouse has emissions by 2035.

Worsley alumina is on-track to convert its first coal fired boiler to natural gas in the September 2023 quarter, supporting the refinery’s transition to lower carbon energy and improving energy security.

Mr Kerr said the company is well placed to capitalise on the global energy transition.

“Looking forward, we are well placed to continue to capitalise on the global energy transition,” he said.

“We expect to deliver further production growth in aluminium and base metals in FY24, and our high-quality development options have the potential to further strengthen our long-term supply of critical minerals.”