Strong commodity prices and disciplined operations have propelled South32 to a solid first-half financial year 2025-26 (FY26) result, highlighting growth at Cannington and other key Australian assets.
“Our consistent operating performance and higher base and precious metals prices underpinned strong financial results for the half,” South32 chief executive officer Graham Kerr said. “We delivered underlying EBITDA of $US1.1 billion ($A1.5b) and 16 per cent growth in underlying earnings to $US435 million.”
The company declared a fully-franked interim dividend of US 3.9 cents per share ($US175 million) and increased its capital management program by $US100 million to $US2.6 billion, with $US209 million yet to be returned to shareholders.
In Australia, Cannington’s underground ore reserve rose by 28 per cent, extending mine life by roughly two years, while work continues on both underground and potential open-pit expansion.
South32’s Australian manganese operations at Wessels and Groote Eylandt delivered solid production, with Australia Manganese returning to full capacity following tropical cyclone disruptions.
Safety and workforce performance were also highlighted, with lost time injury frequency falling 36 per cent to 0.9, and women now representing 50 per cent of the board.
Meanwhile, the Hermosa project in the US advanced with construction of the Taylor zinc-lead-silver mine and ongoing exploration at the Peake copper deposit, supporting South32’s global base metals growth ambitions.
The company also announced the appointment of Sinead Kaufman, former Rio Tinto chief executive minerals, to its board from April 1, 2026, bringing extensive international and operational experience to support South32’s Australian and global operations.
“Sinead is an accomplished senior executive with a strong operational background and track record in leading complex operations,” South32 chair Karen Wood said.
“Her vast international experience will bring significant value to our Board as we focus on strengthening operating performance and advancing our base metal growth options.”
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