South32 Ltd (ASX: S32) saw its shares rise 3.4% to $3.63 at the time of writing, following better-than-expected production results for the December quarter. Aluminium and copper production exceeded consensus estimates by 6% and 11%, respectively, with aluminium output rising 3% to 306,000 tonnes and copper increasing 9% to 19,100 tonnes. The Cannington mine delivered a 56% surge in zinc production, alongside strong silver and lead outputs. UBS analysts praised the operational strength while noting challenges in cost management and working capital. The firm retained its “buy” rating and a price target of $4.
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