South32 plans to spin off Manganese Alloy projects in South Africa and Australia due to falling demand

SMM8, June 6: South32 said it may close or spin off its manganese alloy business in South Africa and Australia in December. Due to fundamental changes in the manganese alloy industry in recent years, demand for manganese ore has soared but demand for manganese alloy has decreased in large steel countries such as China.

In the last fiscal year to June, South32's manganese production fell 9 per cent to 223000 tons.

The company's recent second-quarter results also showed that South32's manganese alloy production fell 9 per cent to 223000 tons in the fiscal year to June. "Company financial statements

Among them, the output of manganese alloy in South Africa was 69000 tons, down 12.7 per cent from the same period last year. Australia produced 154000 tons of manganese, down 6.7% from a year earlier, and sales fell 11.2%. "correlation Analysis-[SMM Financial report] Manganese mine production of 5536 kilowatt tons in South32:2019 fiscal year is basically the same as last year.

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