South32 is continuing to implement an operational recovery plan for its Australian manganese operations
Gold Ten Futures, August 29th, according to foreign media reports, Australian diversified mining company South32 reported a 59% drop in its annual profit on Thursday, beating market expectations and announced that it will buy back shares worth $200 million. Previously, the company outlined a growth return plan for its Australian manganese operations. As the world's largest manganese producer, South32 said in a statement that it is continuing to implement an operational recovery plan for its Australian manganese operations, which were affected by a temporary shutdown at a major mine earlier this year. The company expects its Australian operations to produce about 1 million tonnes of manganese by fiscal 2025. With the completion of the operational recovery, production is expected to increase to 3.20 million tonnes by fiscal 2026.