0110 GMT - South32 may need to shut-in its Mozal aluminum operations in Mozambique, where the miner is finding it hard to bring in raw materials because of road blockages, say Morgan Stanley analysts in a note. "Although negative, a shut-in could mean 50% of alumina sales are made on spot," helping to offset the impact, say the analysts. "However, restart costs will be quite significant" at roughly US$200 million, they say. Watch for likely near-term updates from the miner, the analysts say. MS has an equal-weight rating and A$3.30 target on South32, which is down by 4.2% at A$3.525. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 10, 2024 20:10 ET (01:10 GMT)
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