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South32 Limited (ASX:S32)

ALERT: Price-sensitive ASX Announcement for S32
Current share price for S32 : $5.150 0.08 (1.58%)+
Announcement
Release
25 Aug 2026 8:33AM
Price at Release
$5.070
Full Release
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Summary
South32 Limited announced a significant 61% increase in the Ore Reserve estimate for the Sierra Gorda copper mine, reaching 1,100 million tonnes with an average of 0.39% total copper as of 31 July 2026. This update follows extensive infill drilling and reflects enhanced orebody definition, supporting a 19-year reserve life at increased throughput rates due to the approved fourth grinding line project. The mine, located in Chile, is expected to boost copper production by 30% from 2031 and remains open for further exploration, indicating potential for additional growth. The updated estimates underline the mine's long-term viability and economic significance, with joint venture partner KGHM Polska Miedź holding a majority stake.
Key Points
  • 61% increase in Sierra Gorda Ore Reserve estimate.
  • Updated Ore Reserve and Mineral Resource estimates as of 31 July 2026.
  • Enhanced orebody definition from infill drilling of 85,000 metres.
  • Supports a 19-year reserve life with expanded processing capacity.
  • Fourth grinding line project to increase copper production by 30% from 2031.
  • Potential for further growth beyond the current reserve increase.
  • Joint venture with KGHM Polska Miedz holding a 55% stake.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.