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Australia-headquartered diversified miner South32’s group underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 28% year-on-year to $2.5-billion for the financial year ended June 30, while underlying earnings increased by 55% year-on-year to $1-billion owing to a strong operational performance combined with commodity price tailwinds. “I’m really proud to have started as CEO in such a pivotal time for the company, with our strategic repositioning to base metals driving some of our best financial results on record. A strong operating performance enabled us to capture the benefit of commodity price tailwinds in copper, zinc and silver,” CEO Matt Daley pointed out during a call with the media on August 27.
