South32 Posts 75% Profit Rise on Alumina Strength, Higher Prices

Australian diversified miner South32 reported a 75% surge in full-year underlying earnings to $666 million for the fiscal year ending June 30, 2025, driven by higher commodity prices and increased metals output. The company's alumina division saw a significant boost from a 45% rise in alumina prices, lifting operating earnings by $714 million, while the aluminum division also benefitted from supply constraints and rising costs. South32 made a net profit of $213 million compared to a loss of $203 million the previous year, and declared a final dividend of 2.6 cents per share, extending its capital management program by 12 months with $144 million left to return to shareholders. Despite the strong financial performance, the company missed some analyst earnings expectations and faces higher operating costs in fiscal 2026, with plans to place the Mozal Aluminium smelter under care and maintenance due to power supply concerns. South32 continues to focus on minerals critical to the global energy transition, including expanding its copper production and developing new projects such as the Hermosa copper deposit in Arizona. The company has also classified some operations as discontinued, including its Cerro Matoso mine, expected to be sold in late H1 FY26.