Global mining group South32 earnings down in FY23 due to lower commodity prices and higher costs

- Globally diversified mining group South32 reported today that in its fiscal 2023 ended June 30 2023 , the company achieved strong year-on-year growth in aluminium, copper and manganese, setting three annual production records.

The company’s statutory profit after tax decreased by US$2,842M to a loss of US$173M in FY23, including the US$1,300M non-cash impairment of Hermosa’s Taylor deposit. The company also announced that its Board has resolved to pay a final dividend of US 3.2 cents per share for the year ended 30 June 2023, bringing total ordinary dividends for the year to US 8.1 cents per share .

“A record US$1.2 billion was returned to shareholders during the 2023 financial year and the Board has today resolved to pay a fully-franked ordinary dividend of 3.2 cents per share or US$145 million in respect of the June 2023 half year.”

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