|
ARI
ARIM
ARI - African Rainbow Minerals Limited - Assmang Limited (which is jointly
controlled by African Rainbow Minerals Limited and Assore Limited) announces
possible conversion of further furnaces at Machadodorp Works
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or the "company")
Assmang Limited (which is jointly controlled by African Rainbow Minerals Limited
and Assore Limited) announces possible conversion of further furnaces at
Machadodorp Works.
Assmang Limited (Assmang) announced today that, after the successful conversion
of the No 5 Furnace at its Machadodorp Works from the production of charge
chrome to high carbon ferromanganese, it is evaluating the conversion of a
further two open furnaces (No`s 2 and 3) at the Machadodorp Works for the
production of ferromanganese. As announced previously, it remains the aim of the
company to optimise alloy production across its facilities.
Although most regulatory matters are in place, there are a number of engineering
and logistical issues that require resolution before this conversion can be
implemented. It is thus anticipated that this conversion would not take place
before mid 2011.
Assmang has not been able to consistently meet the strong market demand for high
carbon ferromanganese from its Cato Ridge Works and from the No 5 Furnace at the
Machadodorp Works. If Assmang proceeds with the proposed conversion, it is
anticipated that it will increase Assmang`s capacity for high carbon
ferromanganese to approximately 400 000 tonnes per annum and make
approximately 100 000 tonnes per annum of additional product available to the
market. In this event, core ferrochrome customers will still be supplied from
the No 1 Furnace at Machadodorp.
With the ongoing uncertainties around the availability of electricity for future
expansion in South Africa, the proposed conversion would free up sufficient
power to allow Assmang to also consider expansion options at its smelters, and
studies in this regard are continuing.
ENDS
For all investor relations queries please contact:
Jan Steenkamp
Chief Executive: ARM Ferrous
Office: +27 11 779 1108
Mobile: +27(0)82 492 6948
E-mail: jan.steenkamp@arm.co.za
Johannesburg
10 September 2010
Issued by sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 10/09/2010 12:00:01 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. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
