Triple-listed South32 achieved three yearly production records during the year ending in June, with growth in aluminium, copper, and manganese reported. CEO Graham Kerr expressed confidence in the company's performance, highlighting the record annual production at Hillside Aluminium, Australia Manganese, and South Africa Manganese. Aluminium production increased by 14% and base metals production by 17% in the 2023 financial year, aided by investments in commodities crucial for a low-carbon future.

Aluminium production reached 1.13 million tonnes for the full year, with 286,000 tonnes delivered in the fourth quarter, driven by record output from the Hillside aluminium smelter and increased production from Brazil aluminium. Alumina production slightly declined for the year but increased in the fourth quarter. Copper production surged by 179% for the year, with 70,700 tonnes produced, and quarterly production rose by 12% to 17,300 tonnes. Manganese production increased by 4% for the year, reaching 5.6 million tonnes, and Australia manganese and South Africa manganese achieved record production.

However, the company reported lower year-on-year production levels for silver, lead, zinc, nickel, and metallurgical coal. Silver production declined by 11% for the full year but increased by 42% in the June quarter due to output from Sierra Gorda and Cannington. Lead production decreased by 16% for the year but rose by 35% in the June quarter. Zinc production was down by 8% for the full year but recovered by 29% in the June quarter. Nickel production declined by 2% for the year but remained stable in the June quarter. Metallurgical coal production fell by 4% for the year but rose by 21% in the June quarter.

Despite these variations in production, South32 maintained its disciplined capital allocation and returned a record $1.2 billion to shareholders in 2023. The company is optimistic about its high-quality growth options, including the Hermosa project and greenfield exploration programs, which are expected to further strengthen its long-term supply of critical minerals. South32 foresees continued production growth in aluminium and base metals in 2024, positioning the company well to capitalize on the global energy transition.