Financial Performance - Total Income decreased by 34% year-on-year, from US$1327 million to US$872 million, due to a 25% reduction in Average Sales Price and a decrease of 436Kt in sales volumes[34, 35] - Underlying EBITDA decreased from US$375 million in 1H 2024 to US$147 million in 1H 2025[10, 34] - Underlying EBITDA Margin decreased from 28% in 1H 2024 to 17% in 1H 2025[34] - Operating Cash Flow decreased from US$209 million in 1H 2024 to US$151 million in 1H 2025[10, 32] - Net Debt increased to US$99 million, compared to a Net Cash position of US$(192) million in 1H 2024[10, 32] Production and Cost - Saleable Production was 65 Mt [10, 25] - FOB Cash Cost was US$89/t [10, 25] - Capital Expenditure was US$36 million [33] Guidance and Outlook - The company reaffirmed its full-year 2025 saleable production guidance of 138 – 144 Mt [40] - The company reaffirmed its full-year 2025 FOB Cash Cost guidance of US$85 - 90/t [40] - The company reaffirmed its full-year 2025 Capital Expenditure guidance of US$80 - 90 million [40, 45]