Mining group South32 says half-year earnings down 44% on lower commodity prices and higher inflation

- Globally diversified mining group South32 said yesterday that its statutory profit after tax for the half year ended 31 December 2022 decreased by 34% to US$685M, while underlying earnings decreased by 44% to US$560M.

South32 added that group copper equivalent production increased by 12% in H1 FY23 as the company"delivered strong production results and realized the benefit of investments in Sierra Gorda and the expanded low-carbon aluminium capacity." South32 said that underlying EBITDA decreased by US$507M to US$1,364M, for a group operating margin of 32%"due to the aforementioned commodity price and uncontrollable cost impacts."

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LU mining school board member awarded as industry trailblazerRachel Pineault receives recognition from Women in Mining Canada
Source: sudburydotcom - 🏆 6. / 89 Read more »