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FERROUS METALS

US firm to pay R250m for stake in SA chrome mine Restricted

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NYSE-listed and Illinois-based Amcol announced on Wednesday that it would buy a 74% stake in a South African chrome mine from ASX-listed Chrome Corporation for A$41-million (about R250-million), and was in separate talks to bring a local firm on...
5th March 2008
 
 
POWER CRISIS

Eskom asked to declare force majeure on big projects as Project Lion expansion gets suspended Restricted

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While the power crunch has forced the Xstrata/Merafe Resources joint venture (JV) to push back its plans to double the capacity of its Project Lion ferrochrome smelter, the black-owned company called on embattled Eskom to declare a "force...
3rd March 2008
 
 
FERROCHROME

Ferrochrome producer Merafe may cogenerate 40 MW of power Restricted

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JSE-listed ferrochrome producer Merafe was studying the economic feasibility of cogenerating 40 MW of electrical power to ease its energy squeeze, CEO Steve Phiri said on Monday. Phiri said that a Merafe technical team was hard at work on the use...
3rd March 2008
 
 
FERROCHROME

More chrome could leave South Africa unbeneficated because of power Video Available Restricted

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Merafe Resources CEO Steve Phiri South African exports of raw chrome ore rose by in excess of 55% in 2007, which was "killing jobs and killing revenue", JSE-listed Merafe Resources CEO Steve Phiri said on Monday, adding that the country's power crisis could worsen...
3rd March 2008
 
 
FERROCHROME

Ferrochrome prices to rise significantly in '08 - Merafe Restricted

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India has raised the duty it charges on mining companies exporting raw chrome ore from the country by a further $12/t to some $66/t, a South African producer ferrochrome producer reported on Monday. Merafe Resources, which is in a joint venture...
3rd March 2008
 
 
FERROCHROME

IFM posts R23,9m loss on production shortfall Restricted

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International Ferro Metals CEO Stephen Turner Ferrochrome producer International Ferro Metals (IFM), on Monday reported a loss of R23,9-million for the six month period ended December 2007, which it said was in line with expectations, given the production problems experienced, which resulted...
3rd March 2008
 
 
FERROCHROME

Merafe appoints Fauconnier to board, says FY profit up 72% Restricted

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Merafe Resources CEO Steve Phiri Black-controlled Merafe Resources, which has a joint venture with world number-one ferrochrome producer Xstrata, said on Monday that its after-tax profit for 2007 had risen 72% to R240-million, with headline earnings leaping two-thirds to 10c a...
3rd March 2008
 
 
FERROCHROME

Power crisis won’t hinder Dilokong chrome expansion, says COO Video Available Restricted

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ASA Metals, a joint venture between Eastern Asia Metals Investment, of China, and the Limpopo Economic Development Enterprise, of South Africa is expanding its Dilokong chrome mine.
29th February 2008
 
 
 
 
 
 
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