Xstrata plc

Published : November 10th, 2008

Alloys News Release: Xstrata-Merafe Chrome Venture announces suspension of six ferrochrome furnaces

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Keywords :   Chrome | London | Market | Market Conditions | Swiss | Vanadium |

NEWS RELEASE

 

XSTRATA-MERAFE CHROME VENTURE ANNOUNCES SUSPENSION OF SIX FERROCHROME FURNACES

 

Rustenburg, 10 November 2008

 

Xstrata Alloys and Merafe Resources Limited announce the temporary suspension of six furnaces, representing 500,000 tonnes of annual ferrochrome production or approximately 29% of the Xstrata-Merafe Chrome Venture's total available capacity. Three furnaces at Rustenburg, two at Lydenburg and one at Wonderkop will remain suspended until further notice, reducing ferrochrome production in 2008 by some 80,000 tonnes. 

 

Peet Nienaber, Xstrata Alloys Chief Executive, commented:

"As the global market leader in ferrochrome, Xstrata and Merafe are acting responsibly and decisively to cut back production during a period of short term demand weakness.  Today's announcement underlines the Xstrata-Merafe Chrome Venture's operational flexibility, which enables us to scale back production and optimise unit costs, while redeploying employees within the organisation.  We will continue to respond promptly to market conditions as necessary." 

 

 

Ends

 

 

Xstrata Contacts

 

Investors and analysts

Claire Divver

 

Hanr� Rossouw

Telephone

+44 20 7968 2871

Telephone

+ 44 20 7968 2820

Mobile

+44 7785 964340

Mobile

+ 44 7879 455885

Email

cdivver@xstrata.com

Email

hrossouw@xstrata.com

 

 

 

 

Songezo Zibi

 

 

 

Telephone

+27 11 250 0064

 

 

Mobile

+27 82 303 8176

 

 

Email

szibi@xstrata.co.za

 

 

 

 

 

Notes to editors

 

Xstrata Alloys

Xstrata Alloys is a business unit of Xstrata PLC, listed on the London and Swiss stock exchanges. Headquartered in Rustenburg, Xstrata Alloys is one of the largest South African producers of ferrochrome and vanadium.

 

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Xstrata plc

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Xstrata is a zinc and lead producing company based in Switzerland.

Xstrata produces zinc, lead, bauxite, coal, cobalt, copper, gold, molybdenum, nickel and silver in Argentina, in Australia, in Botswana, in Canada, in Chile, in Colombia, in Jamaica and in Peru, develops cobalt, copper, copper , gold, lead, molybdenum, nickel, palladium, platinum, silver, uranium and zinc in Argentina, in Australia, in Canada, in Chile, in Dominican Republic, in New Caledonia and in Philippines, and holds various exploration projects in Argentina, in Australia, in Botswana, in Brazil, in Canada, in Chile, in Greenland, in Ireland, in Mexico, in Norway, in Panama, in Papua New Guinea, in Peru, in South Africa, in Turkey and in Yemen.

Its main assets in production are ALUMBRERA in Argentina, KIDD CREEK MINE (MINE D), CRAIG - ONAPING (SUDBURY) MINE, PELLETIER LAKE (STADACONA MINE), LINDSLEY MINE, NORALEX (WEST ANSIL, HORNE, ETC), FALCONBRIDGE MINE, RAGLAN, SUDBURY, BRUNSWICK MINE, KIDD, STRATHCONA, KIDD CREEK DIVISION and BUCKO LAKE in Canada, HYC MCARTHUR RIVER, MOUNT ISA LEAD ZINC SILVER, ERNEST HENRY, BOUNTY MINE, COSMOS MINE, THUNDERBOX, EMILY ANN (LAKE JOHNSTON), MT MCCLURE, MT ISA, MT ISA BLACK STAR, MT ISA ENTERPRISE, EMILY ANN and SILVER SWAN in Australia, LOMAS BAYAS and COLLAHUASI MINE in Chile, TINTAYA, ANTAMINA, ANTAMINA and ANTAMINA ZINC ORE in Peru, PHOENIX MINE (TATI NICKEL) in Botswana, PRODECO in Colombia and ST ANN BAUXITE in Jamaica, its main assets in development are LENNARD SHELF, MAGGIE HAYS, CLONCURRY COPPER and LENNARD SHELF in Australia, CERRO DE MAIMON and FALCONDO MINE in Dominican Republic, PERSEVERANCE, HACKETT RIVER, PREMIERE RIDGE, ONAPING DEPTH, FRASER MORGAN, NICKEL RIM SOUTH, ONAPING DEPTH and PD1 in Canada, AGUA RICA and EL PACHON in Argentina, LOMAS BAYAS II in Chile, KONIAMBO in New Caledonia and TAMPAKAN in Philippines and its main exploration properties are HORNE SMELTER, ISLAND COPPER, CEZINC, DONKIN, TROILUS / TORTIGNY, KONRAD, MARY MARCH, MEGATEM, ROBB LAKE, AKWESKWA, MUSK, TORTIGNY, SABIN, CHANCE, MATAGAMI, TULKS NORTH, CATFACE, GREAT BURNT LAKE, WEST ANSIL, TULK SOUTH - DOMINO, TULK EAST B ZONE, TULK SOUTH BOOMERANG, TULK EAST A ZONE, TULK LONG LAKE MAIN ZONE, SKIDDER, HEATH STEELE MINES, GASPE MINE and MONTCALM TWP PROP in Canada, BLACK ROCK, TOBY CREEK, MUSGRAVE, SINCLAIR and MOUNT PEAKE in Australia, ELMALAAN in Turkey, MANGABAL in Brazil, KABANGA in Tanzania, FRIEDA - NENA DEPOSIT in Papua New Guinea, PALLAS GREEN in Ireland and DIKOLOTI in Botswana.

Xstrata is listed in Germany and in United Kingdom. Its market capitalisation is GBX 2 893.1 billions as of today (US$ 4 497.6 billions, € 3 435.7 billions).

Its stock quote reached its lowest recent point on April 30, 2013 at GBX 963.50, and its highest recent level on May 02, 2013 at GBX 999.70.

Xstrata has 3 002 692 076 shares outstanding.

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LSE (XTA.L)FRANKFURT (XTR.F)
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GBX 963.50
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24hGold TrendPower© : -33
Produces Bauxite - Copper - Gold - Lead - Molybdenum - Nickel - Silver - Zinc
Develops Cobalt - Copper - Gold - Lead - Molybdenum - Nickel - Palladium - Platinum - Silver - Zinc
Explores for Coal - Copper - Gold - Lead - Nickel - Silver - Vanadium - Zinc
 
 
 
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