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South32 Ltd said on Tuesday it has withdrawn its production guidance for Mozal Aluminium due to civil unrest in Mozambique. The Perth-based mining group indicated it has implemented contingency plans to mitigate operational impacts, adding it is working with relevant stakeholders. Mozambique has been rocked by unrest since an October 9 presidential election, won by the Frelimo party. The opposition claims the election was rigged. South3 said that due to escalating civil unrest in Mozambique, the transport of raw materials to Mozal Aluminium is being impacted by road blockages. ‘The safety and wellbeing of our people at Mozal Aluminium is our priority. Our workforce is safe and there have been no security incidents at Mozal Aluminium,’ the diversified miner said. In October, South32 said it expected annual aluminium production or Mozal Aluminium to rise to 360,000 tonnes for the 2025 financial year from 314,000 tonnes for the financial year that ended June 30. For the first quarter that ended September 30, South32 said Mozal Aluminium saleable production increased by 14% to 88,000 tonnes as the smelter achieved improved process stability following completion of its operational recovery plan, despite the impact of electricity loadshedding. Shares in South32 were down 0.9% at R 42.03 on Tuesday morning in Johannesburg, ahead of the market open in London. In Sydney, shares rose 2.2% to A$3.68. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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