U.S. stocks edge higher; solid earnings season continues
AUSTRALIA - South32 (OTC:SOUHY) Limited (ASX / LSE / JSE: S32; ADR: SOUHY), an Australian mining and metals company, has announced that its Worsley Alumina (OTC:AWCMY) operation has received federal environmental approval for its mine development project. The approval, granted under the Environmental Protection and Biodiversity Conservation Act (1999), follows the state environmental approval obtained on December 20, 2024.
The project aims to extend access to bauxite reserves to maintain alumina production at the Worsley site. Mining in the new bauxite areas, located near existing operations, is expected to commence in the fourth quarter of FY25. The development is projected to support production continuity until at least FY36, subject to further required approvals.
Graham Kerr, CEO of South32, expressed that the federal government’s endorsement is beneficial for the Worsley Alumina workforce, as well as the Peel and South West communities, contributing positively to the local economy. He highlighted Worsley Alumina’s over 40 years of operation and its status as a major regional employer, supporting thousands of jobs. Kerr also noted the operation’s recognition by the Aluminium Stewardship Initiative for responsible alumina production, a key material in aluminium manufacturing, which is increasingly important in the global energy transition.
The company, with operations spanning the Americas, Australia, and Southern Africa, focuses on mining minerals and metals crucial to the energy transition. South32’s commitment extends to creating lasting partnerships and community benefits, aspiring to leave a positive legacy.
The information regarding the Worsley Mine Development Project’s approval and its implications is based on a press release statement. The production target and financial forecasts for Worsley Alumina rely on Proved and Probable Ore Reserves reported in accordance with the JORC Code, as detailed in South32’s Annual Report released on August 29, 2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.