Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

South32 increased the production guidance by 10pc for its Cannington facility, owing to improved performance from the underground mine. This change is part of its outlook for FY 2021, which began on July 1, 2020. 


Cannington’s output in FY 2020 ended June 30, 2020, exceeded the Australian miner’s guidance to deliver 67,000mt of zinc and 110,400mt of lead. For FY 2021, the mine is expected to produce 60,700mt and 113,900mt of zinc and lead, respectively. 


The company has kept its guidance unchanged for its Worsley, Brazil Alumina, Hillside, and Mozal Aluminum facilities. The group noted that these guidances will be subject to the continued impact of the COVID-19 pandemic.    

Facility Guidance (in mt)
Worsley Alumina3.886mn3.965mn
Brazil Alumina1.383mn1.370mn
Hillside Aluminum 718,000720,000
Mozal Aluminum 268,000273,000
Cannington (Zinc)110,400113,900


South 32 posted revenue of $6bn in the full year ending June, down by 16pc from $7.2bn in the prior year. Net income for the year accounted for a loss of $65mn, compared with a profit of $389mn in the prior year. 

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