29th Jan 2015 09:45
LONDON (Alliance News) - International Ferro Metals Ltd Thursday reported a rise in its second quarter production compared with the first quarter, though production volumes were lower year-on-year.
The company reported ferrochrome production of 49,800 tonnes for the quarter to the end of December, its financial second quarter. That was up from production of 48,216 tonnes in the fiscal first quarter, but down on the 58,621 tonnes it produced a year ago.
Ferrochrome sales in the quarter hit 53,517 tonnes, up 11% on the 48,183 tonnes for the first quarter but again down year-on-year from 57,374 tonnes.
The group said its mining operations at the Lesedi mine in South Africa were ramping up in line with its accelerated schedule and said production from the Rooderand mine is also on schedule.
It expects its co-generation plant, also based in South Africa, to restart operations in the second quarter of 2015 following a re-design.
International Ferro shares were down 0.8% to 3.1 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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