19th Aug 2015 16:11
LONDON (Alliance News) - International Ferro Metals Ltd Wednesday said that it has lost about 1,000 tonnes of ferrochrome production at its facilities in the North West Province of South Africa, as workers employed by Almar Investments Ltd, which owns and operates the materials handling mobile equipment on site under contract for the company, are on strike.
The company said that the workers are in a dispute with Almar amid labour unrest affecting other mining operations in the region, but that Almar has now managed to staff operations so that they can continue normally.
International Ferro Metals added that the strike has also caused a disruption to its logistics and shipping schedules.
"Whilst operations are now returning to normal, the situation remains unpredictable, and should disruption to the company's operations and logistics and shipping schedules re-occur, it may put further strain on the company's liquidity," it said in a statement.
Shares in International Ferro Metals closed up 3.6% at 1.00 pence on Wednesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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