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South32 subsidiary TEMCO will defend its position in an ongoing anti-dumping investigation by the US Department of Commerce, after a preliminary ruling restricted imports of an alloy produced by the group.
The preliminary DoC ruling sets an 11.93 per cent rate of imports for Australian-origin silicomanganese, an alloy used in steelmaking and produced by TEMCO.
The Department’s final ruling in the anti-dumping case is expected in 2016, with the US International Trade Commission expected to commence a final injury investigation.
“South32 is disappointed with the imposition of these preliminary measures and will review its options,” the group said.
TEMCO, a Tasmanian manganese alloy plant, is 60 per cent owned by South32 through its parent GEMCO.
The ruling does not affect South32's manganese ore operations in Australia or South Africa, which are responsible for around 95 per cent of EBITDA generated by the group’s manganese arm.
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