• Mozal aluminum output 6% to 93,000 tons
• FY2026 guidance held, but post-March shutdown risk remains
• Power deal talks with HCB ongoing amid supply uncertainty

Australian mining company South32 produced 93,000 tons of aluminum at its Mozal smelter in Mozambique between July and September, the first quarter of its 2026 fiscal year. Output rose 6% year-on-year from 88,000 tons in the same quarter a year earlier, according to the company’s operational report released on Oct. 21.

The smelter ran close to full capacity during the quarter, despite South32’s decision in August to suspend pot relining because of uncertainty about power supply after March 2026. South32 maintained its 2026 production guidance at 240,000 tons, assuming operations continue until March 2026.

Despite a solid quarter, the company expects annual production to drop sharply to 240,000 tons from 355,000 tons in FY2025, as a possible shutdown looms after March 2026. The miner is negotiating a new electricity supply agreement with state-owned utility Hidroeléctrica de Cahora Bassa (HCB), which powers the smelter, but no deal has yet been reached.

South32 holds a 63.7% stake in Mozal. The remaining shares are owned by the Mozambican state (3.9%) and the Industrial Development Corporation (32.4%).

Aurel Sèdjro Houenou