South32 Shares Slide on Mozal Impairment Warning Amid Power Supply Concerns

South32 shares slide on Mozal impairment warning amid power supply concerns

South32’s Mozal smelter faces uncertainty over electricity supply

Despite six years of negotiations with HCB and Eskom, South32 has been unable to agree on an affordable electricity price tariff

Power deal threatens future of South32’s Mozal smelter

There is a growing risk South32 will be forced to pull the plug on its Mozal aluminium operations in Mozambique as the diversified miner races against the clock to secure a new electricity supply deal.

South32’s Mozambique aluminium smelter faces uncertainty amid power supply issues

Australian mining and metals company South32 has raised concerns regarding the future of its Mozal aluminium smelter in Mozambique, citing potential power supply issues and the inability to secure affordable power prices beyond March 2026. The company has been in negotiations with the primary power provider, Hidroeléctrica de Cahora Bassa (HCB), since 2019 to renew …

South32's Mozambique aluminium smelter faces uncertainty amid power supply issues

Australian mining and metals company South32 has raised concerns regarding the future of its Mozal aluminium smelter in Mozambique.The post South32’s Mozambique aluminium smelter faces uncertainty amid power supply issues appeared first on Mining Technology.

South32 warns of impairment as uncertainty grows over Mozal’s future operations

JSE-, ASX- and ADR-listed diversified miner South32 has informed shareholders that it expects to recognise an impairment expense in its 2025 financial year-end results, as a result of the reassessment of the carrying value of its Mozal aluminium smelter, in Mozambique, owing to increased uncertainty about future electricity supply. Electricity is currently supplied to Mozal under an agreement that is due to expire in March next year. Historicall…