Raising South32's Near-Term Commodity Price Forecasts, but Long-Term Outlook Unchanged
Fiscal 2017 production guidance for South32 is maintained for most commodities following the second quarter. However, lower coking coal output after issues at Illawarra is the primary driver of our lower fiscal 2017 EPS of AUD 0.23, down from AUD 0.26 previously. The reduction in coking coal matters, given current elevated prices and margins. Slower first-half production is also likely to dilute this year’s realised price, as volumes contracted at lower prices are yet to be delivered.South32 no...
South32 is engaged in mining and metal production from a portfolio of assets for the commodities of alumina, aluminium, bauxite, energy and metallurgical coal, manganese ore, manganese alloy, nickel, silver, lead and zinc. As of June 30 2016, Co. operated 10 segments, which were comprised of: Worsley Alumina, South Africa Aluminium, Brazil Alumina, Mozal Aluminium, South Africa Energy Coal, Illawarra Metallurgical Coal, Australia Manganese, South Africa Manganese, Cerro Matoso, and Cannington.
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