2024 began with a major milestone for South32, a $2.16 billion final investment decision announced on our zinc deposit at our Hermosa project in Arizona. Hermosa is our polymetallic development option, which has potential to be a globally significant producer of commodities critical to a low-carbon future. It comprises a zinc-lead-silver deposit, a zinc-manganese-silver deposit and an extensive, highly prospective land package with the potential for further polymetallic and copper mineralisation. Developing natural resources responsibly and sustainably can change people's lives for the better, from the people we employ to the communities who trust us to realise the potential of their resources. Hermosa presents a significant opportunity to make a difference and improve people’s lives, now and for generations to come. Our ambition is for our zinc deposit to be our first ‘next generation mine’, applying low-carbon design principles in line with our goal of net zero operational carbon emissions by 2050. Our manganese deposit offers the potential to realise further value from our investment in Hermosa through the production of battery-grade manganese, a mineral designated as critical in the United States. Manganese is a metal with significant potential in a low-carbon world, particularly in the manufacture of electric vehicle batteries. With strong demand expected in coming years, supported by recent policy decisions by the US Government, Hermosa is well positioned to become a meaningful supplier into this growing market. South32 Chief Development Officer Simon Collins will highlight some of the most important considerations for Hermosa, and our industry, as we move ahead on what could be one of the most significant critical minerals developments in the United States.

Speaker: Simon Collins, Chief Development Officer, South32