Mining News

South32 reports stellar first half, advances work at Hermosa

Diversified miner South32 has reported a 1 847% increase in profits after tax for the half-year ended December, along with record operating margins.

Profits after tax for the first half of 2022 reached $1.03-billion, up from the $53-million reported in the first half of 2021, with underlying revenue increasing by 32% in the same period from $3.4-billion to $4.6-billion, while underlying earnings before interest, tax, depreciation and amortasaition (Ebitda) increased by 138%, from $786-million to $1.8-billion.

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