South32 confirms Mozal Aluminium (Mozal) was placed on care and maintenance on 15 March 2026. South32 Chief Executive Officer, Graham Kerr, said: “Over the past six years we have engaged extensively with the Government of the Republic of Mozambique, Eskom and other key stakeholders but were unable to secure sufficient and affordable power supply for Mozal beyond March 2026.

“While this is not the outcome we wanted, we are proud of the history and significant contribution Mozal has made to the local community and the Mozambican economy in its 25 years of operation.”

As previously announced, one-off costs to place Mozal into care and maintenance, including employee separation costs and termination of contracting arrangements, are approximately US$60M (100% basis). Ongoing annual care and maintenance costs are approximately US$5M (100% basis).

The alumina supplied from our Worsley Alumina refinery to Mozal will now be sold to third-party customers at index-linked prices.

About Mozal Aluminium

Mozal Aluminium is located near Maputo, Mozambique. The smelter, now in care and maintenance, produced high-quality, primary aluminium for domestic and export markets. South32 holds 63.7% of Mozal, the Industrial Development Corporation of South Africa Limited holds 32.4%, and the Government of the Republic of Mozambique holds 3.9%.