On April 26, 2022, South 32 announced the production of CerroMatoso ferronickel in the first quarter of 2022. Its output in the first quarter was 10,600 tons, an increase of 49% year-on-year and a decrease of 1% month-on-month. The full-year production in 2021 is 38,300, an increase of 6% year-on-year. Cerro Matoso's nickel production has grown by 33% year to date due to, as well as the successful refurbishment of previous furnaces. In the nine months to March 2022, CerroMatoso nickel production increased by 33% (or 0.77 million tons) to 30.9 thousand tons, mainly due to the completion of a large furnace refurbishment in 2021, higher Q&P pit grades, average nickel production Grades improved by about 9% (1H22: 1.73%; 1H21: 1.58%).

Production guidance for 2022 remains unchanged at 43,800 tonnes.

The specific production and sales are shown in the table below: