2335 GMT - Consensus forecasts for South32 could need to come down as the market hasn't yet fully factored in the likelihood that the miner's Mozal aluminum smelter won't restart, suggests Macquarie. South32 expects to shutter the Mozal smelter in Mozambique in March as it struggles to agree to a new electricity supply deal. It signaled this week that negotiations are at a stalemate. "We see downside risk to consensus," given it still shows production at Mozal happening beyond FY 2026, Macquarie says. It retains a neutral call on South32. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 21, 2025 19:35 ET (23:35 GMT)
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