South32 announced December 2022 quarterly report

South32 Limited (ASX: S32) announced its quarter ended 31 December 2022 report as follows:

• The company’s copper equivalent production increased by 12% in 1HFY23. As its investments in copper and low-carbon aluminium capacity delivered strong growth.
• At the majority of its operations, the company’s 1HFY23 Operating unit costs are likely to be in line with or below FY23 guidance.
• The company’s Aluminium production increased by 15% in the December 2022 half-year, with a 50% uplift in low-carbon aluminium, following the restart of the Brazil Aluminium smelter and acquisition of an additional shareholding in Mozal Aluminium.
• It has lowered its FY23 production guidance at Cannington by 11% due to lower mill throughput and labour availability impacting mining rates and at Brazil Aluminium by 25% due to a slower ramp-up to nameplate capacity.

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