South32 LTD is a mining, smelting and refining company operating out of Western Australia and with operations and investments in seven countries worldwide The company produces nickel, copper, platinum, gold, silver, lead, manganese, alumina, aluminium, metallurgical coal, bauxite and zinc. Its nickel operations are concentrated at the CerroMatoso mine in Colombia, making it one of the largest nickel producers in the world.
Output and production reports
On October 23, nickel producer South32 (South32) released the third quarter of 2023 production report, the CerroMatoso project nickel-iron production of 0.83 million metal tons, a decrease of 18.63% quarter-on-quarter, 13.54% year-on-year. As of the third quarter, Nan32 had accumulated production of 28,700 metal tons of nickel-iron in 2023.
As the plant was affected by maintenance and a temporary reduction in third-party gas supplies, project nickel-iron production at CerroMatoso fell by 18.63% quarter-on-quarter to 8,300 metal tonnes in the third quarter of 2023.
Guidance for fiscal year 2024 (July 2023 to June 2024) remains unchanged at 40,500 metal tonnes, with higher plant capacity and nickel grade expected for the remainder of 2023. Sales fell 18% in the third quarter, reflecting lower product availability.
The market situation and the 23 fiscal year remained basically unchanged, the third quarter of the South 32 nickel iron product market price to the LME nickel index -33% (that is, 67% discount).
