MRF
MRF
MRF - Merafe - Xstrata - Merafe Chrome Venture ("the Venture") Announces
Suspension Of Six Ferrochrome Furnaces
MERAFE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06
Share Code: MRF
ISIN: ZAE000060000
("Merafe" or "the Company")
Xstrata - Merafe Chrome Venture ("the Venture") announces suspension of six
ferrochrome furnaces
Merafe and Xstrata Alloys announce the temporary suspension of six furnaces,
representing 500,000 tonnes of annual planned ferrochrome production. Three
furnaces at Rustenburg, two at Lydenburg and one at Wonderkop will remain
suspended until further notice, reducing ferrochrome production in 2008 by some
80,000 tonnes.
The Venture has been monitoring the market situation closely and has decided to
promptly respond to the short term market weakness in a responsible way. The
decision confirms the Venture`s operational flexibility and economy of scale
which gives the Venture the advantage of cutting back on production while at the
same time maintaining the cost competitiveness. The Venture will, as always,
continue to keep a watch on the market conditions and will respond
appropriately.
Sandton
10 November 2008
Sponsor
Deutsche Securities (SA) (Proprietary) Ltd
Date: 10/11/2008 11:44:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
