IMFA First Quarter Earnings of Fiscal Year Ended June 30, 2024

Ferrochrome production attributable to the Johannesburg Stock Exchange-listed Merafe Resources from the Glencore Merafe Chrome Venture for the six months to June 30 was a 17%-lower 154 000 t compared with the same period in 2023.

In the Abay region of Kazakhstan, a Turkish company plans to build a ferroalloy plant and mining-processing complex worth $79.2 million. The project will start in mid-2027.

Zimbabwe’s ferrochrome miners, the nation’s biggest electricity consumers, have agreed to build their own power plants over the next two years as the government seeks to balance energy demand.

Subhrakant Panda, Managing Director of Indian Metals & Ferro Alloys (IMFA) expects ferrochrome prices to increase by ?3,000 to ?4,000 per tonne in the first quarter (April-June).

Pending an improved price and cost environment, Glencore said in its first-quarter 2024 production report on Tuesday that its Rustenburg ferrochrome smelter in South Africa’s North West province would remain idled.

Merafe Resources has reported that its attributable ferrochrome production from the Glencore Merafe Chrome Venture in the first quarter ended March 31 was 77 000 t.

Jubilee Metals has achieved record production levels at its South African chrome operations, both on monthly output for March and for the quarter ended March 31 – which is the third quarter of the company’s 2024 financial year.