South32 added US$121 million to net cash in the March 2026 quarter, reaching US$96 million. This growth occurred even with a US$158 million investment in growth capital for the Hermosa project, supported by strong performance in aluminum and base metals markets.

Year-to-date alumina production rose by 1%, aided by record output at Brazil Alumina. Aluminum production remained steady; Hillside Aluminium operated near its technical capacity limit, and Brazil Aluminum improved pot stability and output.

Besides, Mozal Aluminium finished its planned transition to care and maintenance, with results exceeding guidance by 3%.