Australia: South32 lowers coal production targets for FY’22 and FY’23

Australian miner South32 has lowered its coal production targets for FY’22 ending in Jun’22 by 7% to 6.8 mnt and by 1% to 7.4 mnt for FY’23 amid Covid restrictions and subsequent labour issues. The company’s total coal output was 3.1 mnt in the first half of FY’22 (Jul-Dec’21), down by 24% on y-o-y basis.