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ASX:S32

6 stories mentioning ASX:S32

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Asia

AusQuest Starts Reverse Circulation Drilling at South Australia Project; Shares Up 4%

AusQuest (ASX:AQD) started a reverse circulation (RC) drilling program at its Coober Pedy iron-oxide copper-gold (IOCG) project in South Australia's northern Olympic Dam Province, advancing exploration under its strategic alliance agreement with South32 (ASX:S32), according to a Thursday Australian bourse filing.The program will test magnetic, gravity, and induced polarization-defined targets, along with anomalies identified in historical Vale drilling that recorded strong potassic alteration beneath shallow cover, per the filing.The company plans to drill 10 to 15 vertical RC holes to depths of around 350 meters to test semi-coincident geophysical anomalies interpreted as potential IOCG-related sulfide systems at depths of about 250 to 500 meters, the filing said.The project has shallow cover of 50 to 150 meters relative to typical IOCG settings, with drilling taking about four weeks and assay results expected roughly four weeks after completion, the filing added.AusQuest's shares rose past 4% in recent Thursday trade, while South32's shares shed about 3%.

ASX:AQDASX:S32
Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Alcoa Corp (ASX:AAI): +4%, AU$93.22South32 (ASX:S32): +4%, AU$4.29Capstone Copper (ASX:CSC): +3%, AU$13.81James Hardie Industries (ASX:JHX): +3%, AU$28.97Evolution Mining (ASX:EVN): +3%, AU$12.18Rio Tinto (ASX:RIO): +2%, AU$186.03NEXTDC (ASX:NXT): +2%, AU$14.91SGH (ASX:SGH): +2%, AU$41.81Lynas Rare Earths (ASX:LYC): +2%, AU$18.92Pilbara Minerals (ASX:PLS): +2%, AU$6.28

ASX 200ASX:AAIASX:CSCASX:EVNASX:JHXASX:LYCASX:NXTASX:PLSASX:RIOASX:S32ASX:SGH
Asia

South32 Says Initial Operating Life of Arizona Zinc-Lead-Silver Project Extended by Five Years, Shares Fall 8%

South32 (ASX:S32) said the initial operating life of the Taylor zinc-lead-silver project, the first development within the Hermosa project in Arizona, was extended by five years to around 33 years since the final investment approval, driven by successful infill drilling programs.The Taylor ore reserve saw a 52% increase to 99 million tonnes, and the mineral reserve rose by 10% to 169 million tonnes. First production is now expected in the second half of fiscal 2028, and nameplate capacity of 4.3 million tonnes per annum is expected by fiscal year 2031, reflecting the revised expectation for shaft construction.Updated pricing for the remaining surface and underground construction packages led to expected growth capital expenditure for Taylor being updated to around $3.3 billion.Under the updated assumptions, Taylor's steady-state earnings before interest, taxes, depreciation, and amortization is expected to be around $650 million per annum, with a net present value of around $3.1 billion.Its shares fell 8% in recent trading on Thursday.

ASX:S32
Asia

South32 to Generate Strong Fourth-Quarter Cash Flow, Says Jefferies

South32 (ASX:S32) is poised to generate strong cash flow in the fourth quarter, helped by robust commodity prices and inventory sales, despite operational disruptions due to adverse weather conditions, Jefferies said in a note on Wednesday.The investment firm had previously expected some working capital unwind in the third quarter, but a higher impact is now expected in the June quarter due to strengthening commodity markets.The miner reported a 6% quarter-on-quarter decline in alumina production of 1.2 million tonnes, missing Jefferies' forecast of around 1.3 million tonnes. Its GEMCO sales, which beat market expectations, also came in roughly 2% below Jefferies' estimates.Analysts at the firm see risk in the Hermosa project timing and capital expenditure update ahead of the company's second-half review.Jefferies maintained a buy rating on South 32 and increased the price target to AU$5.25 from AU$5.20.

ASX:S32
Asia

Australian Shares Decline; Treasury Wine Estates to Transition to New Regional Operating Model in October

Australian shares retreated at Wednesday's close as uncertainty around negotiations between the ​US and Iran continued, even as the US extended a ceasefire.The S&P/ASX 200 Index declined 1.18%, or by 105.80 points, to close at 8,843.60.US President Donald Trump said the US would extend the ceasefire with Iran indefinitely. Iran had rejected a second round of negotiations before the extension was declared. The Strait of Hormuz remained closed, while President Trump said he would continue the US's blockade of Iran.Brent crude oil futures were steady at $$98.47 per barrel.On the domestic front, the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to negative 0.13% in March from 0.05% in February, signaling a renewed slowdown in growth expectations as higher interest rates and weaker consumer sentiment weigh on the outlook.The Commonwealth Bank of Australia's inaugural FX Barometer report, conducted between Feb. 16 and April 10, showed that importers were hedging around 80% of their currency exposures and exporters hedging 86%, while businesses that both import and export were hedging around two-thirds of their exposures, reflecting partial natural offsets.In company news, Treasury Wine Estates (ASX:TWE) will transition to a new regional operating model, effective Oct. 1. Under the new model, the company will operate four regional divisions: the Americas; Australia and New Zealand (ANZ) and Europe; Greater China; and emerging markets, which cover the rest of Asia, Middle East, and Africa. Its shares soared over 16% on market close.BHP Group (ASX:BHP) reported fiscal third-quarter copper production of 476,800 tonnes, down 7% from a year earlier. Iron ore output for the March quarter was 62.8 million tonnes, an increase of 2% from the year-ago period. Its shares closed up over 1%.Lastly, South32 (ASX:S32) reported a 1% increase in alumina production year-to-date to March, helped by record production in its Brazil Alumina segment. Aluminium production was mostly flat during the period. Its shares were up over 1% on market close.

ASX 200ASX:BHPASX:S32ASX:TWE
Asia

South32 Posts 1% Rise in Year-to-March Alumina Production

South32 (ASX:S32) reported a 1% increase in alumina production year-to-date to March, helped by record production in its Brazil Alumina segment, according to a Wednesday filing with the Australian bourse.Aluminium production was mostly flat during the period, as its Hillside Aluminium smelter continued to evaluate its maximum technical capacity.Sierra Gorda, a Chile-based copper mine in which South32 holds a 45% stake, delivered a record quarterly distribution of $135 million to the company.South32 said its annual production guidance remained on track for all operations, apart from Australia Manganese, where the fiscal 2026 production outlook was cut by 6% to 3,000 kilo wet metric tonnes due to elevated site water levels and heavy rainfall following Tropical Cyclone Narelle.

ASX:S32