{"id":11861,"date":"2012-06-26T23:56:46","date_gmt":"2012-06-26T21:56:46","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-xstrata-merafe-chrome-jv-at-reduced-capacity\/"},"modified":"2012-06-26T23:56:46","modified_gmt":"2012-06-26T21:56:46","slug":"update-1-xstrata-merafe-chrome-jv-at-reduced-capacity","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-xstrata-merafe-chrome-jv-at-reduced-capacity\/","title":{"rendered":"UPDATE 1-Xstrata-Merafe chrome JV at reduced capacity"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, JUNE 26 &#8211; The Xstrata-Merafe Chrome Venture is<br \/>\noperating at half of its capacity as higher power costs and<br \/>\nmining inflation eats into margins, Merafe Resources<br \/>\nsaid on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>Merafe, which holds a 50 percent stake in the venture with<br \/>\nXstrata, said in a statement it will only be operating<br \/>\neight out of twenty furnaces from June to August, South Africa&#8217;s<br \/>\nwinter months.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Ferrochrome production for the winter months is envisaged<br \/>\nto be in the region of 40 percent to 50 percent of installed<br \/>\ncapacity,&#8217; it said.<\/p>\n<p><span><\/span><\/p>\n<p>The ferrochrome producer in March said it struck a deal with<br \/>\nstate-owned utility Eskom to shut seven of its furnaces until<br \/>\nthe end of May and allow Eskom to buy back the energy that the<br \/>\nplants would have otherwise consumed.<\/p>\n<p><span><\/span><\/p>\n<p>These shutdowns were expected to have cost the company<br \/>\n130,000 tonnes of production in the first and second quarters.<\/p>\n<p><span><\/span><\/p>\n<p>The joint venture&#8217;s total ferrochrome production in 2011 was<br \/>\n263,000 tonnes, which represented 65 percent of installed<br \/>\ncapacity.<\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, JUNE 26 &#8211; The Xstrata-Merafe Chrome Venture is operating at half of its capacity as higher power costs and mining inflation eats into margins, Merafe Resources said on Tuesday. Merafe, which holds a 50 percent stake in the venture with Xstrata, said in a statement it will only be operating eight out of twenty [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11861","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11861"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11861\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}