Australia’s diversified mining company, South32, announced on Monday that Matthew Daley will become its new CEO. Daley will join the company as deputy CEO in early 2026, succeeding long-time CEO Graham Kerr, who will step down in 2026 after serving the company for nearly a decade.
Daley brings over 20 years of experience in the metals and mining industry. South32 stated in its official announcement that Daley will help the company expand its base metals business, a key focus for the company in the years ahead. Daley is currently the technical and operations director at Anglo American plc, where he has been since 2017.
Daley’s Career Background and Experience
Before his tenure at Anglo American, Daley served as the executive general manager of Glencore’s Canadian copper unit. His extensive experience in copper and base metals is seen as valuable for South32 as the company looks to grow in the energy transition metal sector, especially copper.
South32, like many other miners, is actively seeking to expand its copper portfolio. Some investors have previously criticized the company for being overly cautious with its mergers and acquisitions strategy.
Simon Mawhinney, chief investment officer at Allan Gray, commented on the possibility of South32 pursuing more copper-related acquisitions in the future. “Are we suggesting they will buy some copper?” he asked. “It could be a case of ‘lining up.’”
Management Changes in the Mining Industry
Daley’s appointment comes as other major mining companies are also undergoing leadership changes. BHP CEO Mike Henry is expected to step down next year, further reflecting the broader trends in the mining industry.
South32’s chair, Karen Wood, praised Daley’s qualifications, saying in the statement, “Matthew is a very accomplished executive with a wealth of operational and leadership experience, including in copper and the Americas, and the board believes he is the right successor to Graham.”
Graham Kerr’s Legacy at South32
Graham Kerr has been CEO of South32 since it was separated from BHP a decade ago. He is one of the longest-serving mining company CEOs, with the exception of Glencore’s Ivan Glasenberg, who has been in charge for nearly 20 years.
During Kerr’s leadership, South32 has sold coal assets and invested in copper and other base metals, adding value to the company’s portfolio. However, some investors feel that Kerr could have moved more quickly with mergers and acquisitions.
One of the projects under Kerr’s leadership that has drawn attention is the U.S.-based Hermosa base metals project in Arizona, which has faced high capital costs. South32 approved a $2.16 billion capital investment in the project last year.
Kerr’s Focus on Copper Expansion and Future Plans
Despite these challenges, Kerr remains focused on expanding South32’s copper business. He told Reuters that the company is still at a significant inflection point, with major investments in base metals such as copper. Kerr emphasized the ongoing importance of the Sierra Gorda copper joint venture in Chile and efforts to de-risk the Taylor project in Hermosa.
Looking forward to his departure, Kerr stated that after a decade of leading South32, it was time to move on. While he plans to take some time off, he hasn’t yet given much thought to life beyond his time at South32. “To be honest, I can’t imagine myself just playing golf,” he said.
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