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Johannesburg, 8 December 2008
Assmang - additional capacity shutdown
Assmang Limited ("Assmang") (jointly controlled 50/50 by African Rainbow Minerals Limited and Assore Limited) announced today that due to a further deterioration in the stainless steel market, Assmang has decided to shut down its Number 2 Furnace (capacity �45 000 Mtpa) at the company's Machadodorp Ferrochrome Works, from today.
After the earlier shutdown of Furnaces 3 and 5, the smelter will only be operating one furnace, which equates to approximately 30% of capacity. Chrome ore production at the company's Dwarsrivier Chrome Mine will also be adjusted commensurately in the new year.
The market will continue to be closely monitored to evaluate when the idle capacity can be re-started.
For all more information please contact:
Jan Steenkamp
Chief Executive: ARM Ferrous
Office: +27 11 779 1108
Mobile: +27 82 492 6948
E-mail: jan.steenkamp@arm.co.za
or
Monique Swartz
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Mobile: +27 83 411 2881
E-mail: monique.swartz@arm.co.za |