MELBOURNE — South32, the world’s largest manganese producer, said fourth-quarter production of the element rose 2% on record annual output in Australia.Manganese ore production rose to 1.23-million metric tonnes in the three months to June 30, from 1.205-million tonnes in the previous three months, Perth-based South32 said on Thursday. That beat a 1.15-million-tonne median estimate among three analysts surveyed by Bloomberg.South32 said it had completed its restructuring programme, positioning the company to achieve its full-year 2017 unit cost guidance.The producer has cut costs and trimmed output across its alumina, metallurgical coal, nickel, and manganese units in response to lower commodity prices as it also targets the reduction of about 2,000 jobs.The producer is benefiting as materials it produces, including zinc, silver and metallurgical coal, post gains in 2016, according to Romano Sala Tenna, a Perth-based portfolio manager at Katana Asset Management."All of these unsexy ...
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