Eighty per cent of the capacity of Xstrata-Merafe ferrochrome venture is now shut, but no lay-offs of permanent employees were anticipated, the JSE-listed Merafe Resources said on Friday.
Eleven furnaces were suspended in early December and another six furnaces have now been suspended. The total suspended ferrochrome production capacity, Merafe said, now represented 1,37-million tons or 80% of annual operating capacity.
The venture will continue to monitor prevailing market conditions though it stated that no lay-offs are anticipated for permanent employees.
The retention of full-time personnel would enable the venture to return to capacity quickly and efficiently when market conditions allowed, Merafe added.
Source: Mining Weekly
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