South32 Reports Strong Earnings, Focuses on Copper and Zinc Growth

South32 reported higher earnings and cash flow for FY26, driven by commodity prices and operational performance in its base-metals operations. The company's CEO, Matt Daley, said that group underlying EBITDA rose 28% to $2.5 billion and underlying earnings increased 55% to $1 billion.

Cash flow from operations rose by $352 million to $610 million, despite the investment of about $700 million in the Hermosa project. South32 ended the period with net cash of $283 million after returning $327 million to shareholders.

The company declared a fully franked ordinary dividend of 5.4 cents per share, totaling $242 million, for the June 2026 half-year. It also extended its capital-management program through September 2027, with $209 million remaining to be returned to shareholders.