SMM7, 18 March: recently, South32 reported second quarter results for fiscal year 2019, and the company received a net allocation of $458 million in the manganese equity investment (EAI) in fiscal year 2019, including $132 million in the second quarter of 2019. in the second quarter of 2019, the company received a net allocation of $458 million in manganese equity investment in fiscal year 2019, including $132 million in the second quarter of 2019.
Graham Kerr, chief executive of South32, said the company had a strong performance and we achieved a record 57 per cent increase in, Illawarra Metallurgical Coal production at Hillside Aluminum and delivered 5.5 million tons of manganese ore to a favourable market. We announced an important milestone in the Hermosa project, announcing the mineral resources of the Taylor deposit, which reduced our investment risk and increased our confidence in the project as we advanced the fiscal year 2020 preliminary feasibility study.
Production of manganese ore and manganese alloy:
Price of manganese related products:
The Australian manganese industry's salable ore production fell by 1 per cent (47000 tons) to 3349 kilowatt tons in fiscal year 2019, which was affected by the annual rainy season in the second quarter of 2019. The company achieved a record 3, 438, 000 wet tons of ore sales in fiscal year 2019. Sales of manganese alloys decreased by 7 per cent (or 11 kilotons) to 154 kilotons in fiscal year 2019.
The marketable ore production of the manganese industry in South Africa increased by 2 per cent (42 kilotons) to 21878 kilotons in fiscal year 2019 as the productivity of our high-grade Wessels mines increased the number of high-quality materials. Despite the impact of the additional trading volume, we expect operating unit costs to rise slightly from our previous guide price of $2.56 per dry tonne in fiscal 2019, as we continue to take advantage of favourable market conditions through increased labour activity and the use of higher-cost trucking as an alternative route. In fiscal year 2019, sales of manganese alloys decreased by 13 per cent (10 kilotons) to 69 kilotons, with sales of 73 kilotons.
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