South32 Limited, a global mining company, has released its half-year financial results for the period ending December 31, 2025. The company reported a 29% increase in profit after tax attributable to members, reaching $464 million, compared to $360 million in the same period last year. This growth is attributed to strong operating performance and higher base and precious metals prices.
**Key Financial Highlights**
**Revenue** Revenue from continuing operations slightly decreased by 3% to $2,809 million, while underlying revenue grew by 4% to $4,008 million.
**Earnings** Underlying earnings attributable to members increased by 16% to $435 million, driven by higher commodity prices and improved operational efficiency.
**Dividends** The company announced an interim dividend of 3.9 cents per share, a 15% increase from the previous year, reflecting its strong financial position.
**Capital Management** South32 increased its capital management program by $100 million to $2.6 billion, with $209 million remaining to be returned to shareholders.
**Operational Performance**
**Base Metals** The company is focusing on growing its base metals production, with advancements in projects like Hermosas Taylor zinc-lead-silver project and Canningtons underground ore reserve expansion.
**Aluminium** Alumina and aluminium production increased, but the Mozal Aluminium smelter will transition to care and maintenance due to electricity supply challenges in Mozambique.
**Manganese** Production and sales volumes improved, particularly at Australia Manganese, following recovery from Tropical Cyclone Megan.
**Sustainability and Safety**
**Climate Change** South32 aims to halve its net operational greenhouse gas emissions by FY35 and achieve net-zero emissions by 2050. Operational GHG emissions increased by 16% in H1 FY26 due to increased coal-fired electricity use at Mozal Aluminium.
**Safety** The company reported improved safety performance, with a 36% reduction in lost time injury frequency (LTIF) and a 24% decrease in total recordable injury frequency (TRIF).
**Outlook**
**Production Guidance** FY26 production guidance remains unchanged for most operations, with a focus on safe and reliable operations.
**Costs and Capital Expenditure** Operating unit cost guidance is maintained, and capital expenditure guidance for FY26 is largely unchanged, with continued investment in growth projects like Hermosa.
South32s CEO, Graham Kerr, emphasized the companys consistent operating performance and its commitment to growing base metals production while maintaining a disciplined approach to cost management and safety. The companys financial results and strategic initiatives position it well for continued growth and value creation in the mining sector.