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Xstrata Alloys: Xstrata-Merafe chrome venture announces further ferrochrome production cuts |
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16.01.09 07:12 |
| | | Xstrata Alloys: Xstrata-Merafe chrome venture announces further ferrochrome production cuts (PDF)
Rustenburg, 16 January 2009
On 1 December 2008, the Xstrata-Merafe Chrome Venture (the “Venture”) announced the temporary suspension of a total of 11 ferrochrome furnaces, representing 906,000 tonnes of annual ferrochrome operating capacity.
Subsequent to this, a further 6 furnaces have been suspended due to the market conditions. The total suspended ferrochrome production capacity represents 1.37 million tonnes or 80% of annual operating capacity.
The Venture will continue to monitor prevailing market conditions closely. No lay-offs are anticipated for permanent employees at the furnaces, enabling the Venture to return to capacity quickly and efficiently when market conditions allow.
Xstrata Alloys
Xstrata Alloys is a business unit of Xstrata PLC, listed on the London and Swiss stock exchanges. Headquartered in Rustenburg, Xstrata Alloys is one of the largest South African producers of ferrochrome and vanadium.
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