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An update from South32 ( (AU:S32) ) is now available.
South32 has placed its Mozal Aluminium smelter near Maputo, Mozambique, on care and maintenance as of 15 March 2026 after failing to secure sufficient, affordable power beyond March, despite six years of negotiations with the Mozambican government, Eskom and other stakeholders. The move ends 25 years of high-quality primary aluminium production for domestic and export markets at the site and entails one-off costs of about US$60 million plus ongoing annual care and maintenance expenses of around US$5 million, while alumina previously supplied to Mozal from Worsley Alumina will now be redirected to third-party customers at index-linked prices, altering South32’s sales mix and local economic footprint.
The most recent analyst rating on (AU:S32) stock is a Buy with a A$5.00 price target. To see the full list of analyst forecasts on South32 stock, see the AU:S32 Stock Forecast page.
More about South32
South32 is a diversified mining and metals company producing minerals critical to the global energy transition from operations across the Americas, Australia and Southern Africa. Its portfolio includes assets such as the Mozal Aluminium smelter in Mozambique, where it holds a 63.7% stake alongside the Industrial Development Corporation of South Africa and the Mozambican government, and it supplies alumina from its Worsley Alumina refinery.
YTD Price Performance: 26.11%
Average Trading Volume: 18,502,657
Technical Sentiment Signal: Buy
Current Market Cap: A$19.73B
See more insights into S32 stock on TipRanks’ Stock Analysis page.