Merafe and Xstrata Close Furnaces to Help Conserve South African Power

Mineweb reported that Merafe Resources Ltd. (OTC Pink:MRAFY), a ferrochrome producer, and Xstrata plc (LSE:XTA) will close five of their joint venture’s 20 furnaces between January and March 2013 to help South African power utility Eskom deal with an electricity supply shortage.

As quoted in the market news:

Merafe said in a statement on Wednesday the shutdown will result in a production loss of 100,000 tonnes but added the arrangement “will be mutually beneficial to Eskom and the venture and will not result in job losses at these furnaces.”

Click here to read the full Mineweb report.