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Market: LSE
Sector: General Mining
EPIC: XTA
Latest Price: 1,198.00p  (-0.17% Descending)
52-week High: 1,564.50p
52-week Low: 715.10p
Market Cap: 35,517.01M
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Xstrata
www.xstrata.com

Xstrata is a global diversified mining group with its headquarters in Zug, Switzerland. The company mines seven major commodities: copper, coking coal, thermal coal, ferrochrome, nickel, vanadium and zinc, with additional exposures to platinum group metals, gold, cobalt, lead and silver.

 

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Xstrata and Merafe Resources suspend six ferrochrome furnaces

10th Nov 2008, 11:00 am Xstrata and Merafe Resources suspend six ferrochrome furnaces
Xstrata Alloys, a subsidiary of FTSE 100 mining group, Xstrata, and Merafe Resources announced 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.

Xstrata Alloys and Merafe Chrome added that three furnaces at Rustenburg, two at Lydenburg, and one at Wonderkop will remain suspended, reducing ferrochrome production in 2008 by around 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."  

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