South32 will pivot to copper and zinc after selling its aluminum business,
which accounted for roughly 60% of prior earnings, CEO Matt Daly said. He said
about 55% of the company's growth pipeline is in copper and zinc, with approved
projects due for implementation, and that South32 is open to acquisitions but
with high thresholds. The group expects around 85% of pro‑forma earnings to come
from base metals, chiefly copper, as it exits downstream smelting/refining and
the aluminum value chain to concentrate on technical capability, mine planning
and processing. Management plans to prioritize its copper asset base, targeting
an expansion at Chile's Sierra Gorda and commissioning the US Hermosa
zinc‑copper mine next year while pursuing potential M&A.
