South32 Reports Lower Q4 Copper Output as Weather Continues to Impact Sierra Gorda

Published: Jul 21, 2026 10:09

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South32 reported payable copper production of 16,000 tonnes from its 45% interest in the Sierra Gorda mine in Chile for the quarter ended June 30, down 9.6% year-on-year and below market expectations of 17,500 tonnes. Mining operations at the project continued to be affected by heavy rainfall, which had previously disrupted access to mining areas and temporarily suspended processing operations. The company also expects Sierra Gorda's FY2027 operating unit costs to be about 10% higher than FY2026 guidance due to a previously announced one-off workforce payment and higher diesel prices. In addition, the joint venture recently approved a fourth grinding line expansion, with approximately US$725 million of growth capital expenditure planned between 2027 and 2030 to increase processing capacity by around 25%.

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