MRF - Merafe Resources Limited - Further Ferrochrome Production Cuts
MRF
MRF
MRF - Merafe Resources Limited - Further Ferrochrome Production Cuts
MERAFE RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/003452/06
Share Code: MRF
ISIN: ZAE000060000
("Merafe")
Further ferrochrome production cuts
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 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.
Sandton
16 January 2009
Sponsor
Deutsche Securities SA (Pty) Ltd
Date: 16/01/2009 08:00:02 Produced by the JSE SENS Department.
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