ASX:S32Metals and Mining
How Investors May Respond To South32 (ASX:S32) Shuttering Mozal Amid Power Impasse And Alumina Pivot
South32 Limited has announced that, after unsuccessful efforts to secure a new electricity supply agreement, its Mozal Aluminium operation will be placed on care and maintenance around 15 March 2026, incurring about US$60 million in one-off costs and ongoing annual costs of roughly US$5 million.
A key implication is that alumina previously supplied from Worsley to Mozal will now be redirected to third-party customers under index-linked contracts, subtly reshaping South32’s alumina earnings...