Shareholders of the Company are advised that in the second
half of 2011, scheduled maintenance during the high
electricity tariff winter months and subsequent weaker market
conditions, compounded by industrial action, resulted in
reduced production at our ferrochrome smelters. Installed
capacity utilisation reduced to an average of
65% for 2011 and production volumes were 12% lower compared
to 2010.
Ferrochrome production volumes were adversely affected by
industrial action during the second half of the year,
resulting in production facilities running at a reduced
capacity for thirty eight days.
The average European benchmark ferrochrome price for 2011 of
$1.25 per pound remained at a similar level compared to 2010.
Due to weaker demand for stainless steel, the European
benchmark ferrochrome price for the first quarter of 2012 was
settled at $1.15 per pound which was $0.05 per pound lower
than the price in the fourth quarter of 2011, as per the SENS
announcement dated 21 December 2011.
Ferrochrome production attributable to Merafe for the year
ended 31 December 2011 was as follows:
Year Year ended 31 ended 31 December December 2011 2010 | ||
Ferrochrome production (kt) | 263 | 300 |
Indicative average published price (USc/lb - Metal Bulletin) | 125.0 | 124.3 |
Sandton
31 January 2012
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
distribué par | Ce noodl a été diffusé par Merafe Resources Ltd. et initialement mise en ligne sur le site http://www.meraferesources.co.za. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-31 19:07:03 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Production report for the year ended 31 December 2011 |