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Jun.13.2021 1USD=6.3856RMB
  SteelHome >>Nonferrous Metals>>Market Info>>International Dynamics
 
South32 Announced 2020 Q3 Nonferrous Production Report

http://en.steelhome.cn [SteelHome] 2020-10-21 14:19:17

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Worsley Alumina saleable alumina production decreased by 5% (or 54kt) to 963kt in the September 2020 quarter as a scheduled calciner shut was completed. Hydrate production increased by 4% (or 43kt) to 1,010kt with the hydrate circuit operating at a record annualised rate of 4.65mtpa (100% basis). FY21 production guidance remains unchanged at 3,965kt with the refinery on track to sustainably achieve nameplate capacity.

Brazil Alumina saleable production increased by 3% (or 11kt) to 352kt in the September 2020 quarter as the refinery benefitted from increased plant availability. FY21 production guidance remains unchanged at 1,370kt with planned maintenance scheduled in the December 2020 quarter.

Hillside Aluminium saleable production increased by 1% (or 2kt) to 180kt in the September 2020 quarter as the smelter continued to test its maximum technical capacity, despite the impact from load-shedding. FY21 production guidance remains unchanged at 720kt.

Mozal Aluminium saleable production increased by 1% (or 1kt) to 68kt in the September 2020 quarter as the smelter continued to test its maximum technical capacity, despite the impact from load-shedding. FY21 production guidance6 remains unchanged at 273kt.

Cerro Matoso payable nickel production increased by 3% (or 0.3kt) to 10.0kt in the September 2020 quarter as the operation continued to achieve higher rates of plant utilisation and throughput. FY21 production guidance is unchanged at 33.5kt with the operation scheduled to undertake a major refurbishment of one of its furnaces in the December 2020 quarter.

Sales increased 4% during the September 2020 quarter. Our ferronickel product sells with reference to the LME Nickel index price on a M or M+1 basis and often attracts product discounts.

Cannington payable zinc equivalent production decreased by 14% (or 12.6kt) to 76.6kt in the September 2020 quarter as planned surface maintenance led to a 15% reduction in ore processed. Ore mined volumes declined by a lesser 4% during the period as continued strong underground performance supported the establishment of run of mine inventory.

Processed silver, lead and zinc grades met our expectations during the September 2020 quarter and FY21 production guidance remains unchanged (silver 11,800koz, lead 113.9kt and zinc 60.7kt).

Production summary

South32 share

YTD FY20

YTD FY21

YoY

1Q20

4Q20

1Q21

QoQ

Alumina production (kt)

1,308

1,315

1%

1,308

1,358

1,315

-3%

Aluminium production (kt)

248

248

0%

248

245

248

1%

Payable nickel production (kt)

10.6

10

-6%

10.6

9.7

10

3%

Payable silver production (koz)

2,972

2,863

-4%

2,972

3,195

2,863

-10%

Payable lead production (kt)

26.5

26.4

0%

26.5

30.1

26.4

-12%

Payable zinc production (kt)

18.4

12.4

-33%

18.4

16.9

12.4

-27%

Production guidance

Production guidance (South32 share)

FY20

3M YTD FY21

FY21e

Worsley Alumina

Alumina production (kt)

3,886

963

3,965

Brazil Alumina

Alumina production (kt)

1,383

352

1,370

Hillside Aluminium

Aluminium production (kt)

718

180

720

Mozal Aluminium

Aluminium production (kt)

268

68

273

Cerro Matoso

Payable nickel production (kt)

40.6

10

33.5

Cannington

Payable zinc equivalent production8 (kt)

332.6

76.6

330.8

Payable silver production (koz)

11,792

2,863

11,800

Payable lead production (kt)

110.4

26.4

113.9

Payable zinc production (kt)

66.7

12.4

60.7

Operating Performance

South32 share

YTD FY20

YTD FY21

1Q20

2Q20

3Q20

4Q20

1Q21

Worsley Alumina (86% share)

Alumina hydrate production (kt)

967

1,010

967

943

963

967

1,010

Alumina production (kt)

952

963

952

981

936

1,017

963

Alumina sales (kt)

918

1,001

918

973

860

1,031

1,001

Brazil Alumina (36% share)

Alumina production (kt)

356

352

356

346

340

341

352

Alumina sales (kt)

304

340

304

374

336

378

340

Hillside Aluminium (100%)

Aluminium production (kt)

181

180

181

181

178

178

180

Aluminium sales (kt)

174

175

174

176

174

199

175

Mozal Aluminium (47.1% share)

Aluminium production (kt)

67

68

67

67

67

67

68

Aluminium sales (kt)

64

64

64

72

65

78

64

Cerro Matoso (99.9% share)

Ore mined (kwmt)

668

735

668

732

641

798

735

Ore processed (kdmt)

712

698

712

677

693

679

698

Ore grade processed (%, Ni)

1.65

1.58

1.65

1.67

1.67

1.59

1.58

Payable nickel production (kt)

10.6

10

10.6

10

10.3

9.7

10

Payable nickel sales (kt)

10

10.4

10

10.4

10.2

10

10.4

Cannington (100%)

Ore mined (kwmt)

694

700

694

666

706

726

700

Ore processed (kdmt)

656

630

656

738

701

744

630

Silver ore grade processed (g/t, Ag)

168

169

168

162

134

161

169

Lead ore grade processed (%, Pb)

4.9

5

4.9

4.8

4.5

4.8

5

Zinc ore grade processed (%, Zn)

3.8

2.9

3.8

2.8

3.6

3.2

2.9

Payable zinc equivalent production (kt)

83.9

76.6

83.9

84.8

74.7

89.2

76.6

Payable silver production (koz)

2,972

2,863

2,972

3,192

2,433

3,195

2,863

Payable silver sales (koz)

2,363

2,967

2,363

3,549

2,626

3,571

2,967

Payable lead production (kt)

26.5

26.4

26.5

28.8

25

30.1

26.4

Payable lead sales (kt)

20.6

29.5

20.6

31.2

22.8

33.5

29.5

Payable zinc production (kt)

18.4

12.4

18.4

14.1

17.3

16.9

12.4

Payable zinc sales (kt)

18.9

11.8

18.9

16.4

14.4

19

11.8

Source: South32


(To contact the reporter on this story: jemma.shang@steelhome.cn or 86-555-2238875 18155520624)
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