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ASX:S32

16 stories mentioning ASX:S32Updated 10d ago

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Asia

South32 Exceeds Production Guidance for Fiscal 2026; Shares Jump 4%

South32 (ASX:S32) said it surpassed production guidance for fiscal 2026 and posted a 15% increase in sales volumes for the June quarter amid strong market conditions across many commodities, according to a Monday filing with the Australian bourse.The company's Sierra Gorda copper mine in Chile returned fiscal year 2026 production of 87,100 tonnes of copper equivalent, higher than a forecast of 85,700 tonnes, per the filing.The Cannington mine in Queensland also beat guidance with fiscal 2026 production of 205,400 tonnes of zinc equivalent, while the Australia manganese production totaled just over 3 million wet metric tons.The company said its Worsley operation produced about 3.7 million tonnes of alumina in fiscal year 2026, with Brazil alumina output hitting 1.4 million tonnes.South32 shares gained 4% in recent Monday trade.

ASX:S32
Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.EQ Resources (ASX:EQR): 23 million sharesQube Holdings (ASX:QUB): 10.8 million sharesLiontown (ASX:LTR): 8 million sharesSouth32 (ASX:S32): 4.6 million sharesRamelius Resources (ASX:RMS): 4.3 million shares

ASX 200ASX:EQRASX:LTRASX:QUBASX:RMSASX:S32
Asia Markets

Australian Shares Fall; ResMed to Sell MatrixCare Business to Frazier Healthcare Partners for $490 Million

Australian shares declined on Wednesday as investors reacted to a surge in oil prices on the back of renewed hostilities between the US and Iran in the Middle East.The S&P/ASX 200 Index fell by 0.21%, or 18.80 points, to close at 8,785.10.Brent crude oil futures rose over 3% to trade around $76 per barrel as the US attacked targets in Iran after Iran targeted shipping in the Strait of Hormuz. The US also ⁠moved to withdraw a sanctions waiver allowing Iran to sell oil on the global market, which Iran said breached the memorandum of understanding to ​end the conflict.On the domestic front, the seasonally adjusted estimate for the number of dwellings approved in Australia fell 1.1% month-over-month in May to 17,019 after edging 0.2% lower in April, the Australian Bureau of Statistics said.The number of dwellings commenced in Australia fell 11.2% to 48,012 in the March quarter from the previous quarter, but rose 0.2% from the same period a year earlier.In company news, ResMed (ASX:RMD) agreed to sell its MatrixCare business to healthcare-focused private equity firm Frazier Healthcare Partners in a $490 million all-cash deal.The US Forest Service has issued the final record of decision for South32 (ASX:S32) unit South32 Hermosa's proposed $2.16 billion Hermosa critical mineral project in Arizona's Santa Cruz County, marking a major regulatory milestone for the planned mining and processing operation.Lastly, Adairs (ASX:ADH) expects fiscal year 2026 group underlying earnings before interest and tax (EBIT) in the range of AU$53.5 million to AU$55.5 million, down 1.3% at the midpoint from fiscal year 2025. The company said it expects to recognize a non-cash impairment of the Focus on Furniture goodwill and brand intangible in the range of AU$62 million to AU$68 million to be excluded from underlying earnings.

ASX 200ASX:ADHASX:RMDASX:S32
Asia

Australian Shares Decline; South32 Strikes $6 Billion Deal to Sell Aluminum Assets to Alcoa

Australian shares closed lower on Wednesday as investors reacted to pessimism around a potential peace deal after Iran said it would not meet US envoys.The S&P/ASX 200 Index declined 0.64%, or by 55.80 points, to close at 8,722.90.Brent crude oil futures rose 0.5% to $73.31 per barrel, while gold eased 0.4% to $3,990 per ounce.On the domestic front, Australian manufacturing activity improved modestly in June, with employment and inventories rising even as output and new orders continued to contract amid elevated costs, supply-chain delays, and uncertainty driven by Middle East tensions. The headline seasonally adjusted S&P Global Australia Manufacturing Purchasing Manager's Index (PMI) rose to 51.5 in June from 50.7 in May, signalling a third consecutive month of expansion in the sector.The Australian Industry Index continued to signal weakness in June, declining to negative 30 in seasonally adjusted terms, indicating a broad slowdown across industrial sectors, according to a report released by the Australian Industry Group.The number of dwelling approvals in Australia declined 1.1% in May from the previous month to 17,019 after edging 0.2% lower in April, according to seasonally adjusted data released by the Australian Bureau of Statistics.In company news, South32 (ASX:S32) struck a deal to sell its aluminum assets to Alcoa (ASX:AAI) for an implied enterprise value of as much as $5.6 billion. Under the deal, Alcoa will acquire South32's 86% interest in Western Australia-based Worsley Alumina, full ownership of Hillside Aluminum in South Africa, 33% stake in Brazil's MRN bauxite mine, 36% in Brazil Alumina refinery, and 40% in Brazil Aluminum smelter.Coles Group's (ASX:COL) proposed acquisition of a leasehold for a new supermarket and liquor site in the Kalgoorlie-Boulder area of Western Australia would materially harm competition in the retail groceries space, the Australian Competition and Consumer Commission (ACCC) said.Lastly, Magellan Financial Group (ASX:MFG) said it completed its merger with Barrenjoey Capital Partners Group after receiving overwhelming shareholder support at the extraordinary general meeting on April 10 and satisfying all regulatory approvals and closing conditions.

ASX 200ASX:AAIASX:COLASX:MFGASX:S32
Asia

Update: South32 Strikes $6 Billion Deal to Sell Aluminum Assets to Alcoa; Completes CEO Transition; Shares Rise 9%

(Updates with the stock movement in the headline and last paragraph.)South32 (ASX:S32) struck a deal to sell its aluminum assets to Alcoa (ASX:AAI) for an implied enterprise value of as much as $5.6 billion, according to a Wednesday filing with the Australian bourse.The consideration comprises $3.1 billion in upfront cash consideration, roughly 17 million Alcoa shares worth $1 billion, about $750 million of net debt and lease liabilities to be assumed by Alcoa, and up to $750 million of contingent cash payments linked to alumina and aluminum prices to 2030, per the filing.Under the deal, Alcoa will acquire South32's 86% interest in Western Australia-based Worsley Alumina, full ownership of Hillside Aluminum in South Africa, 33% stake in Brazil's MRN bauxite mine, 36% in Brazil Alumina refinery, and 40% in Brazil Aluminum smelter. Alcoa will also assume related rehabilitation provisions of about $1.2 billion.The sale excludes Mozal Aluminum in Mozambique, which "remains on care and maintenance, with divestment under active consideration," South32 said.The deal leaves South32 with a simplified business and expected overhead reduction of around $125 million per year, with full benefits to be realized in fiscal 2029, the company added.The transaction is expected to complete in the second half of fiscal 2027, subject to conditions that include regulatory and South32 shareholder approval. It is not subject to any due diligence or financing conditions.In a separate statement, Alcoa said it expects the deal to be accretive to earnings per share and free cash flow immediately following closing. The company has secured fully committed financing in the form of an initial $3.1 billion bridge commitment from Goldman Sachs.Additionally, Matthew Daley has succeeded Graham Kerr as CEO and managing director of South32, effective immediately, completing the company's leadership transition plan. Kerr will continue as a strategic adviser to support the deal.South32 shares rose 9% in recent Wednesday trade, while Alcoa declined 5%.

ASX:AAIASX:S32
Asia

ASX Preview: Australian Shares Set to Rise with US-Iran Talks in Focus; South32 Strikes $6 Billion Deal to Sell Aluminum Assets to Alcoa

Australian shares are poised to rise on Wednesday, tracking steady oil prices that were little changed but set for their steepest monthly and quarterly losses since early 2020, as investors weighed US-Iran talks in Doha and fragile ceasefire dynamics.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.8%, 1.5%, and 0.3%, respectively.In the macroeconomy, Australian manufacturing activity improved modestly in June, with employment and inventories rising even as output and new orders continued to contract amid elevated costs, supply-chain delays, and uncertainty driven by Middle East tensions, according to a survey by S&P Global published Wednesday.Australian housing market worsened in June, recording the largest month-on-month decline in home values since Dec. 2022, as pessimistic sentiment grew amid rising cost-of-living pressures, Cotality said Wednesday.In corporate news, South32 (ASX:S32) struck a deal to sell its aluminum assets to Alcoa (ASX:AAI) for an implied enterprise value of as much as $5.6 billion.Coles Group's (ASX:COL) proposed acquisition of a leasehold for a new supermarket and liquor site in the Kalgoorlie-Boulder area of Western Australia would materially harm competition in the retail groceries space, the Australian Competition and Consumer Commission said Wednesday following a phase two review.Australia's benchmark index fell 0.5% or 44.7 points to close at 8,778.70 on Tuesday.

ASX 200ASX:AAIASX:COLASX:S32
Asia

South32 Says Chile JV Approves Fourth Grinding Line Expansion

South32 (ASX:S32) said the Sierra Gorda joint venture (JV) has approved execution of a fourth grinding line project, following a feasibility study that confirmed strong return potential from the brownfield plant expansion, according to a Wednesday filing with the Australian bourse.The project will increase processing capacity to around 60 million tonnes per year from 48 million tonnes per year by expanding crushing, grinding, flotation, and related supporting infrastructure, per the filing.Initial production is targeted for mid-fiscal 2030, with full ramp-up anticipated in fiscal 2031.The annual average payable production is forecast to rise to about 195,000 tonnes of copper; 6,000 tonnes of molybdenum; 58,000 ounces of gold; and 1.7 million ounces of silver, representing a roughly 30% increase in copper-equivalent output and an estimated 10% reduction in unit costs, the filing said.The expansion requires around $725 million in growth capital, is expected to deliver an internal rate of return of about 20% to 23%, depending on copper prices, and will be funded through operating cash flow and joint venture debt facilities, the filing added.

ASX:S32
Asia

South32 Strikes $6 Billion Deal to Sell Aluminum Assets to Alcoa; Completes CEO Transition

South32 (ASX:S32) struck a deal to sell its aluminum assets to Alcoa (ASX:AAI) for an implied enterprise value of as much as $5.6 billion, according to a Wednesday filing with the Australian bourse.The consideration comprises $3.1 billion in upfront cash consideration, roughly 17 million Alcoa shares worth $1 billion, about $750 million of net debt and lease liabilities to be assumed by Alcoa, and up to $750 million of contingent cash payments linked to alumina and aluminum prices to 2030, per the filing.Under the deal, Alcoa will acquire South32's 86% interest in Western Australia-based Worsley Alumina, full ownership of Hillside Aluminum in South Africa, 33% stake in Brazil's MRN bauxite mine, 36% in Brazil Alumina refinery, and 40% in Brazil Aluminum smelter. Alcoa will also assume related rehabilitation provisions of about $1.2 billion.The sale excludes Mozal Aluminum in Mozambique, which "remains on care and maintenance, with divestment under active consideration," South32 said.The deal leaves South32 with a simplified business and expected overhead reduction of around $125 million per year, with full benefits to be realized in fiscal 2029, the company added.The transaction is expected to complete in the second half of fiscal 2027, subject to conditions that include regulatory and South32 shareholder approval. It is not subject to any due diligence or financing conditions.In a separate statement, Alcoa said it expects the deal to be accretive to earnings per share and free cash flow immediately following closing. The company has secured fully committed financing in the form of an initial $3.1 billion bridge commitment from Goldman Sachs.Additionally, Matthew Daley has succeeded Graham Kerr as CEO and managing director of South32, effective immediately, completing the company's leadership transition plan. Kerr will continue as a strategic adviser to support the deal.

ASX:AAIASX:S32
Asia

AusQuest Partially Completes Maiden Reverse Circulation Drilling Program at South Australia Iron-Oxide Copper-Gold Project

AusQuest (ASX:AQD) said its maiden reverse circulation drilling program at the Coober Pedy iron-oxide copper-gold project in South Australia was partially completed, according to a Friday Australian bourse filing.The firm is engaging a second drilling company to complete the program by using the mud rotary drilling technique to penetrate and case off the sand unit, before completing the planned hole depth of around 350 meters with either reverse circulation or diamond drilling.Drilling is planned to restart in the third quarter as soon as a suitable drill rig becomes available.The project is subject to the strategic alliance agreement with a wholly-owned unit of South32 (ASX:S32).

ASX:AQDASX:S32
Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Wednesday.Arafura Rare Earths (ASX:ARU): 24.7 million sharesGQG Partners (ASX:GQG): 17.2 million sharesMirvac Group (ASX:MGR): 12.2 million sharesMinerals 260 (ASX:MI6): 9.4 million sharesSouth32 (ASX:S32): 8.7 million shares

ASX 200ASX:ARUASX:GQGASX:MGRASX:MI6ASX:S32
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

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