Australia's South32 logs higher fourth-quarter manganese output
The company's Groote Eylandt Mining Co (GEMCO) project in Australia's Northern Territory faced inclement weather in early 2025, making it difficult to get production back on track after a tropical cyclone damaged the site's vital infrastructure a year ago.
"Australia Manganese successfully resumed export shipments during the quarter, marking a significant recovery from the impacts caused by Tropical Cyclone Megan," the company said in a statement.
The world's largest producer of manganese, which is used to improve the quality and strength of steel, clocked output of 1.1 million wet metric tons (wmt) of the steel-making ingredient for the quarter ended June 30, up from 534,000 wet metric tons a year earlier.
The result beat a Visible Alpha consensus estimate of 850,000 wmt, as per Barrenjoey.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
23 minutes ago
- Bloomberg
Valterra Platinum Cuts First-Half Dividend 79% as Profit Slumps
Valterra Platinum Ltd. said first-half profit fell 91%, after flooding at a key mine cut production and the company incurred costs during its recent spinoff from Anglo American Plc. The Johannesburg-listed miner also slashed its interim dividend to 2 rand per share, a drop of 79% compared with a year earlier, according to results released on Monday. Valterra completed its separation from Anglo at the start of June.
Yahoo
an hour ago
- Yahoo
3 Attractive Singapore Stocks Unlocking Value for Their Shareholders
Companies may periodically undertake corporate actions that help to enhance value for their shareholders. These actions may include mergers and acquisitions, divestments, or initiatives that help to unlock value and grow the business further. Investors need to assess if these actions will result in a sustained improvement in the company's fundamentals. We would like to bring to your attention three companies that have recently undertaken corporate actions to unlock value for their shareholders. Frasers Logistics & Commercial Trust (SGX: BUOU) Frasers Logistics & Commercial Trust, or FLCT, is an industrial and commercial REIT with a portfolio of 114 properties worth around S$6.8 billion. These properties are diversified across Singapore, Australia, the UK, Germany, and the Netherlands. Earlier this month, FLCT announced the divestment of 357 Collins Street in Australia for A$195.3 million. The consideration payable by the buyer after netting off fees and liabilities is around A$192.1 million, just a tad higher than the property's independent valuation of A$191 million. The rationale for this disposal is for the REIT to enhance its portfolio focus on logistics and industrial properties by making a strategic exit from the Melbourne CBD office market. 357 Collins Street saw its valuation remain at $191 million over the past year, reflecting challenging conditions in the Melbourne market. Melbourne's CBD office market is reeling from the impact of remote work, with an elevated occupancy level of 18% in the city. Post-divestment, FLCT's logistics & industrial weight will increase from the current 72.4% to 74.2%. Portfolio occupancy will also rise from 93.9% to 95.2%, and the REIT's weighted average lease expiry (WALE) will inch up from 4.6 years to 4.8 years. Assuming the proceeds are used to reduce debt, FLCT's gearing level will decline from 36.1% as of 31 March 2025 to 34.6%. The divestment proceeds will enhance the REIT's flexibility to pursue opportunities in the logistics and industrial space. Completion is expected to take place by 30 September 2025. Centurion Corporation (SGX: OU8) Centurion is a provider of purpose-built worker accommodation (PBWA) assets in Singapore, Malaysia, and China, and also purpose-built student accommodation (PBSA) assets in the UK, Australia, the US, and China. The group owns and manages a portfolio of 37 operational assets totalling 69,929 beds as of 31 March 2025. The dormitory operator recently announced its intention to list a REIT named Centurion Accommodation REIT on the mainboard of Singapore Exchange. This REIT will have an initial portfolio of 15 assets totalling 27,602 beds with an agreed property value of around S$2.1 billion. By undertaking this value-unlocking exercise, management anticipates a considerable decline in its net leverage ratio. With debt set to decrease, Centurion will have additional debt headroom for further growth. Meanwhile, the group also unveiled a new premium student housing brand called EPIISOD. The first EPIISOD property is under development in Macquarie Park in Australia with a capacity of more than 700 beds. This property will be ready by February 2026 and will set a new standard for student living for both domestic and international students. City Developments Limited (SGX: C09) City Developments Limited, or CDL, is a global real estate company with a network spanning 168 locations in 29 countries and regions. The group has developed over 53,000 homes and owns around 23 million square feet of gross floor area in residential, commercial, and hospitality properties. Last month, CDL and IOI Properties Group Berhad (KLSE: 5249) entered into a share sale agreement whereby CDL will divest its 50.1% stake in South Beach Development to IOI. South Beach is valued at S$2.75 billion, which represents a 3% premium over its latest valuation of S$2.67 billion as of 31 December 2024. Based on CDL's 50.1% proportionate stake, the estimated sale consideration is S$834.2 million. Both CDL and IOI were long-term joint venture partners in the South Beach project since 2011. This transaction should be completed by the third quarter of 2025, and IOI will gain full ownership of South Beach's commercial components. CDL's move will help it to realise value from this property and is part of the blue-chip group's efforts to accelerate capital recycling, reduce gearing, and redeploy capital. Management is looking to unlock value across its diversified portfolio to pursue more growth opportunities. As the STI hits record highs, long-term investors are asking: can dividends keep up? In this special National Day webinar, we dive into the earnings outlook for Singapore's top dividend stocks and what to expect in the months ahead. Secure your free seat here and stay ahead of the curve. This new 10-minute read could change how you invest this year. Inside: 5 SG dividend-paying blue chips that have quietly powered through past downturns, and could reward you handsomely in the next. Grab the free report now. It might be the most profitable thing you read today. Disclosure: Royston Yang owns shares of Frasers Logistics & Commercial Trust. The post 3 Attractive Singapore Stocks Unlocking Value for Their Shareholders appeared first on The Smart Investor. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Rare 50 cent coin sells for $3,050 due to ‘unique' reason
An extremely rare 50 cent coin has sold for more than $3,000 at auction due to a mistake that happened during the minting process. If you spot an error on one of your coins, it could be worth more than its face value to collectors because of its rarity. The 2002 50 cent coin was mistakenly struck on a Samoan Tala coin, which is seven-sided and made out of nickel brass. The coin is thought to be totally 'unique', with no other examples of the error coin seen before. Roxbury's director Scott Waterman, who auctioned off the coin, told Yahoo Finance there was 'nothing similar' to the coin. RELATED Rare 5 cent coin worth 25,000 times its value due to 'double headed' detail Terrifying superannuation reality facing 4.3 million Australians hoping for comfortable retirement Major warning after Aussie receives random $350 payment in her bank account 'It's a different alloy as well, which makes it quite eye-catching. It's very, very unusual that one, unique as I understand it. So anything that is unique is literally there's one of it,' he said. The coin ended up selling at auction for $3,050, after being found in circulation. Waterman said the error was 'pretty crazy' and very 'unusual'. 'The Royal Australian Mint strikes a lot of other countries in the region, their coins as well. So very, very occasionally one will cross over and I think that's what's happened here,' he said. Waterman said error coins were a rare occurrence since decimal currency was introduced by Australia in February 1966, but they still exist. 'Relatively speaking, they're exceptionally rare in Australia compared to other countries and they're very well supported. We see really high prices for good error coins in Australia relative to other countries,' he said. Other coins struck on the wrong die have also fetched more than their face value. A 2000 $1 coin with its obverse struck with a 10 cent die sold at auction for $1,150 in uncirculated condition. This is known as a 'mule coin' where the coin is struck with mismatched dies on the heads and tails. Another of the $1 coins with the heads side struck on a 10 cent die fetched $375 at auction in circulated in retrieving data Sign in to access your portfolio Error in retrieving data
