Feb 25 (Reuters) - South32 Ltd S32.AX :
* Financial results & outlook half year ended 31 December 2015 S32.AX
* HY statutory loss of US$1.7 billion includes non-cash impairment related charges of US$1.7 billion
* Says no dividend declared for H1 FY 2016
* Says " FY 2016 production guidance maintained for the majority of our upstream operations"
* "Major restructuring initiatives underpin targeted US$300M reduction in controllable costs in FY 2016"
* HY revenue from continuing operations US$2.98 billion versus US$4.09 billion
* "FY 2016 capital expenditure(2) guidance, including equity accounted investments, lowered by US$150M to US$550M"
* "Well positioned to significantly exceed our US$350M controllable costs savings target"
* "Redundancy and restructuring charges(3) of US$37M anticipated in the June 2016 half year"
* Says FY 2016 saleable production guidance has been maintained for the majority of our upstream operations
* A cumulative reduction in controllable costs and capital expenditure, including equity accounted investments, of approximately US$518M is now anticipated in FY 2016
* "Increase in longwall utilisation at illawarra metallurgical coal is expected to increase saleable production towards 9.5mt in FY 2017"
* "Further 3% improvement in refinery availability and utilisation at worsley alumina is expected to increase saleable production to approximately 4.0mt"
* Says "a reduction of approximately 1,750 employees and contractors is expected before the end of FY 2016"
* Source text for Eikon ID:nASX5Lqj8P