• Inside Labour

    Government's farming policies have had a damaging effect, says Terry Bell.

  • Hunter feeling the heat

    The killer of Cecil the lion is now the one getting hunted - by outraged Americans.

  • Making media behave

    Is patriotic reporting another name for whitewashing corruption, asks Leopold Scholtz.

Loading...
See More

Eskom helped by more furnace shutdowns

Mar 01 2012 10:32
Reuters
FERROCHROME producer International Ferro Metals has agreed to shut two of its furnaces to help power utility Eskom manage tight electricity supply.

International Ferro did not say how much Eskom was paying as compensation but said it was a “net financial benefit to the company”.

The company said it did not expect the shutdowns to significantly impact other mining and ore beneficiation operations, and its contracts with customers. No job cuts were anticipated either.

South Africa has been struggling to meet demand for power as new power plants meant to plug the shortfall have been delayed. Supply will remain vulnerable until the first units of Eskom’s new stations become operational next year.

State-owned Eskom had struck similar agreements with other ferrochrome producers such as Xstrata, Samancor and Ruukki.

Sydney, Australia-based International Ferro produces ferrochrome - the essential ingredient in stainless steel - at its facilities located in South Africa. International Ferro said it would switch out the first furnace in March-May and the second in April-May.

The company had the option to switch the first furnace back on May 1.
samancor  |  xstrata  |  electricity blackouts  |  eskom

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...