South Bow Corp

South32 aims to derive 90% of its production from base metals like copper and zinc within the next year and a half, accelerating its strategic pivot toward North American assets. The shift comes amid a CEO transition and the planned idling of its Mozal aluminum smelter in Mozambique.

South32 Ltd is accelerating its transition toward base metals production, with CEO Graham Kerr projecting 90% of output will soon come from these operations. The shift coincides with the impending closure of its Mozal aluminum smelter in Mozambique.

South32 shares closed lower at A$4.39, with markets focused on copper price volatility and the company's interim dividend ex-date of March 5. The miner also plans to idle its Mozal aluminium smelter in Mozambique.

South32 Ltd advanced 0.46% to close at A$4.41 on Thursday, supported by a rebound in copper prices. Trading volumes remained subdued due to the Lunar New Year holiday in China.

South32 closed 0.7% higher at A$4.44, lifted by sector sentiment after BHP's earnings beat. Gains were capped by a broker downgrade and softer copper prices amid thin holiday trading.

Glencore's stock rebounded sharply in London trading after a subsidiary secured a major prepayment agreement for copper and zinc in South Africa. Investors now await the company's full-year results scheduled for February 18.

South32 shares rose after Mozambique's energy minister committed to keeping the Mozal aluminium smelter operational. Investors await the company's half-year results on Feb. 12 for further clarity.

South Korea's financial watchdog is pushing for tighter cryptocurrency regulations following a major incident at exchange Bithumb, which mistakenly distributed over $40 billion in Bitcoin to users. Authorities are considering enhanced inspections and addressing systemic vulnerabilities.