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To: LoneClone who wrote (45604)	10/20/2009 10:35:57 PM
From: LoneClone	Read Replies (1) \| Respond to of 194042

Xstrata-Merafe JV chrome output down 47 pct Posted by Reuters News on 20 October 2009, 07:34 AM communities.thomsonreuters.com * Xstrata-Merafe chrome output down at 126,000 T * Drop in output due to suspension of production capacity * Margins remain under pressure JOHANNESBURG, Oct 20 (Reuters) - South African ferrochrome producer Merafe Resources <MRFJ.J> said on Tuesday output at its joint venture with Xstrata fell 47 percent between January and September compared with the same period last year. Merafe said ferrochrome production at the venture had dropped to 126,000 tonnes during the period due to the suspension of up to 80 percent of production capacity earlier this year following a slump in demand. The company said furnace production had been restored to 85 percent of total capacity after a rebound in demand. Ferrochrome producers in South Africa, the world's biggest producer, as well as the global ferrochrome industry have slashed output by around two-thirds this year in response to lower demand resulting from the economic downturn. Merafe said earlier this month the European benchmark ferrochrome price had been settled at $1.03 per pound for the fourth quarter of 2009, up 16 percent from the third quarter price of $0.89 per pound. (Reporting by Muchena Zigomo)