South32 Takes $372 Million Impairment on Africa Aluminum Smelter

South32 threatens to shut Mozambique aluminium smelter as power talks drag on

Australia's South32 on Thursday flagged a $372m (R6.53bn) impairment on its Mozambique aluminium smelter which the miner said it was preparing to mothball as it may not be able to secure affordable power when its supply agreement ends in 2026.

South32 Takes $372 Million Impairment on Africa Aluminum Smelter

Australian miner South32 Ltd. will take a $372 million impairment on its aluminum project in Mozambique that it said could shut next year, after it failed to secure an affordable energy supply.

South32 preps to pull plug on Mozal in Mozambique

South32 will start standing down contractors and prepare to shutter its Mozal aluminium plant, saying it has little confidence it can reach a deal to secure affordable electricity to run the operations.

South32 to take $372m impairment on Mozal; mulls smelter's closure on power cost concerns

South32 warns no way back for Mozal after March shuttering

SOUTH32 was “ready and willing” to resume discussions on a new power tariff for its Mozal aluminium smelter scheduled to close in March, but it also warned the facility would not reopen once closed. “The hard thing is that with a smelter, once you put a smelter in care and maintenance, whilst it is possible to restart, it’s super expensive,” said Graham Kerr, CEO of South32 in an interview on Thursday. “It’s probably a three- to four-year journe…

South32 provides Mozal update, plans to stand down associated contractors this month

Mixed metals miner South32 says it isn’t confident a ‘sufficient and affordable’ electricity supply can be sourced for its Mozal aluminum operation in Mozambique beyond its current agreement.