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ARI
ARIM
ARI - African Rainbow Minerals - Assmang Limited announces production cutbacks
at its operations
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM")
Assmang Limited announces productions cutbacks at its operations
Due to the ongoing low levels of carbon steel production in our major markets,
Assmang Limited has shut down its No 5 High Carbon Ferromanganese Furnace
(capacity +/- 55 000 tpa) at the Cato Ridge Works on the 7th of April 2009.
Furnaces 3 and 4 remain shut down. These furnaces will be kept out of operation
until market conditions warrant start up. Cato Ridge Alloys` convertor for
production of refined alloys which has not produced since December 2008 remains
closed and will be restarted as demand increases.
Manganese ore markets remain weak and ore production is reviewed on an ongoing
basis.
It has also been decided that due to the global reduction in stainless steel
production, two charge chrome furnaces at the Machadodorp Works will operate
until the end of May and thereafter all four furnaces will be shut down. Any
furnace start ups will be dependent on market conditions. Along with this
reduction in ferrochrome production, chrome ore production at the Dwarsrivier
Chrome Mine will be scaled back commensurately.
ENDS
For more information please contact:
Jan Steenkamp
Chief Executive: ARM Ferrous
Office: +27 11 779 1106
Mobile: +27 82 492 6948
E-mail: jan.steenkamp@arm.co.za
or
Monique Swartz
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Mobile: +27 83 411 2881
E-mail: monique.swartz@arm.co.za
Johannesburg
14 April 2009
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 14/04/2009 17:17:14 Produced by the JSE SENS Department.
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