ASR - Assore Limited - Production Cutbacks at Assmang
ASR
ASR
ASR - Assore Limited - Production Cutbacks at Assmang
Assore Limited
(Incorporated in the Republic of South Africa)
Registration number: 1950/037394/06
Share code: ASR
ISIN: ZAE000017117
("Assore")
PRODUCTION CUTBACKS AT ASSMANG
Due to the ongoing low levels of carbon steel production in our major markets,
Assmang Ltd shut down its No 5 High Carbon Ferromanganese Furnace (Capacity +/-
55000 tpa) at the Cato Ridge Works on the 7th April. 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 being 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 end May 2009 and thereafter all four furnaces will be shut down. Any
furnace start ups will be dependant on market conditions. Along with this
reduction in ferrochrome production, chrome ore production at the Dwarsrivier
Mine will be scaled back commensurately.
Illovo Boulevard
Johannesburg
14 April 2009
Sponsor
Standard Bank
Date: 14/04/2009 17:18:10 Produced by the JSE SENS Department.
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