Global Metals, Mining & Steel Conference Presentation
OUR OPERATIONS
CY17 cost curve position by operation³
3rd quartile 4th quartile
2nd quartile
H1 FY17 Underlying EBITDA¹
by commodity
Manganese
US$294M
Operating
Margin²
1st quartile
Australia Manganese
52%
South Africa Manganese
Base &
Cerro Matoso
Precious metals
39%
US$234M
Cannington
Metallurgical coal
43%
Illawarra Metallurgical Coal
US$202M
Aluminium
US$166M
South Africa Aluminium
23%
Mozal Aluminium
Energy coal
31%
US$152M
South Africa Energy Coal
Alumina
US$148M
Worsley Alumina
25%
Brazil Alumina
慢慢
慢慢
ΞΙΙΙ
ΙΙΙΞ
SOUTH 32
Manganese EBITDA includes manganese ore and manganese alloy from Australia Manganese and South Africa Manganese. Metallurgical coal EBITDA includes energy coal from Illawarra Metallurgical Coal. Base and Precious metals EBITDA includes nickel from Cerro
Matoso and silver, lead and zinc from Cannington. Alumina EBIT includes Worsley Alumina and Brazil Alumina.
Operating Margin shows Underlying EBITDA margin by commodity group for H1 FY17, excluding third party products.
Manganese, aluminium and alumina sourced from CRU based on CY17 production and operating cash costs, overlaying with South32 asset unit cost for H1 FY17. Cost curve for Cannington based on CRU CY17 production and cash cost curves for lead and zinc. Cost
curve for nickel, metallurgical coal and energy coal sourced from Wood Mackenzie using CY17 production and C1 cash costs.
Notes:
1.
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16 MAY 2017
BANK OF AMERICA MERRILL LYNCH - GLOBAL METALS, MINING AND STEEL CONFERENCE
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