Assmang
Low prices hit manganese furnaces
April 15, 2009
Assmang has shut a ferromanganese furnace at its Cato Ridge operation because of falling prices.
The number 5 high-carbon ferromanganese furnace, shut last Tuesday following the closure of units 3 and 4, had an annual capacity of 55 000 tons, African Rainbow Minerals (ARM), which owns half of Assmang, said in a statement to the Stock Exchange News Service.
"These furnaces will be kept out of operation until market conditions warrant a start-up."
Steel, nickel and other commodities have slumped on expectations slowing global economic growth will sap demand for raw materials.
Two so-called charge chrome furnaces at Assmang's Machadodorp Works will stop production in June, leaving all four units at the site shut, ARM said.
Chrome ore production at the Dwarsrivier Chrome Mine would be scaled back. - Bloomberg
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