MRF - Merafe Resources - Ferrochrome production for the six months to 30 June
MRF
MRF
MRF - Merafe Resources - Ferrochrome production for the six months to 30 June
2009
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
("the Company")
Ferrochrome production for the six months to 30 June 2009
Shareholders of the Company are advised that ferrochrome production for the
Xstrata-Merafe Chrome Venture (the Venture) for the first half of 2009 was 60%
lower than the same period in 2008 following the temporary suspension of 80% of
production capacity as announced in early 2009. As industry leader, the Venture
acted swiftly to curtail production as demand for ferrochrome declined sharply
from the third quarter of 2008 due to significant destocking in the stainless
steel sector.
On 8 July 2009,the Venture announced that in response to a strengthening in
demand for ferrochrome, it had increased ferrochrome production capacity to 60%
through the re-commissioning of several furnaces at the Venture`s five
ferrochrome operations.
Six months Six Year
Ferrochrome to 30 June months to ended
2009 30 June 31 December
2008 2008
Attributable production (kt) 63 159 290
Indicative average published 74.0 156.5 175.8
price (USCents (USD)/lb) (Metal
Bulletin)
Sandton
28 July 2009
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 28/07/2009 08:00:04 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 has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
