Shares of South32 Ltd soared 5.02% during intraday trading on Tuesday, extending a recent positive momentum for the diversified miner.

The sharp rise follows the company's report of quarterly production figures that exceeded market expectations. South32 logged fourth-quarter copper equivalent output of 19.9 kilotonnes, surpassing the Visible Alpha consensus estimate of 17 kilotonnes. Additionally, the company's manganese production from its Australian and South African operations came in at 1,310 thousand wet metric tonnes, beating the consensus estimate of 1,223.8 thousand wet metric tonnes.