Cerro Matoso, Colombia
In the current financial year, we commissioned three major projects: Ravensthorpe, the Yabulu Expansion and Cliffs.
Underlying EBIT was down 65.3 per cent mainly due to lower average London Metal Exchange prices and volume across all operations.
Higher operating costs had an adverse impact on Underlying EBIT and were largely due to a strengthening Australian dollar and higher charges for fuel, energy and labour reflecting industry-wide cost pressures.
Sales volumes decreased for the year reflecting lower production volumes due to an industrial stoppage at Cerro Matoso, wet weather interruptions at Yabulu, scheduled maintenance across all operations and a furnace rebuild at the Kalgoorlie Nickel Smelter, offset by strong production from the Kwinana Nickel Refinery.