H1 FY21 Finance and Cost Analysis
H1 FY21 PROGRESS
Optimise our business
• Production records at three operations (Australia Manganese, Brazil Alumina, Worsley Alumina)
.
•
FY21 production guidance increased at three operations (Cannington, Cerro Matoso, Illawarra Met Coal)
H1 FY21 Operating unit costs in-line or below guidance for the majority of operations
Further simplification of our corporate and marketing structures, including our office footprint, remaining
on-track to embed US$50M in annualised savings beyond FY22
0
Unlock the full value of
our business
Accelerated development of the higher-grade Queresas and Porvenir project (Q&P project) at Cerro Matoso
to grow nickel production
• Continued to roll out AP3XLE energy efficiency technology at Mozal Aluminium and progressed a study
for its use at Hillside Aluminium
Progressed Group decarbonisation studies ahead of our next set of emissions reduction targets in CY21
Identify and pursue
opportunities to create value
Key conditions achieved for the planned divestment of South Africa Energy Coal(a)
Sale of GEMCO's shareholding in TEMCO manganese alloy smelter completed subsequent to end of period
Divestment of non-core precious metals royalties for US$55M (b) completed subsequent to end of period
Pre-feasibility study (PFS) for the Hermosa project's Taylor Deposit expected in Q4 FY21
• Scoping study for the Hermosa project's Clark Deposit expected in H1 FY22
PFS for the Arctic Deposit and planning for the next season's regional exploration program underway
at our Ambler Metals Joint Venture
Notes:
a.
Material conditions remain outstanding, refer to the market announcement "Agreement to Divest South Africa Energy Coal" dated 6 November 2019.
b. Includes US$40M in cash and US$15M in shares of TSX-V listed Elemental Royalty Corp.
SLIDE 5
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