South32's shares experienced a significant decline following the announcement of impairment charges amounting to $818 million, attributed to decreased production at its alumina and copper projects. Concurrently, Woodside Energy's stock also fell after the company reported a higher estimated cost for its Scarborough project. In its latest quarterly report, Woodside indicated that production remained largely unchanged while revenue increased by approximately 2% to $3.03 billion. The company is facing challenges with its US LNG deal, which may be jeopardized due to a potential capacity oversupply.