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Message: ARM ferrous operations still profitable, but chrome at risk

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ARM ferrous operations still profitable, but chrome at risk

posted on Apr 28, 09 08:36PM

JOHANNESBURG - South African diversified miner African Rainbow Minerals (ARM) expects to make a reasonable profit from its manganese and iron-ore businesses at current prices, but sees its chrome operations at risk.

ARM's ferrous unit CEO Jan Steenkamp said that while the company has cut its output across the unit or slowed down its expansion plans, it would review the situation on a quarterly basis to see if further output cuts were needed.

"Manganese and iron ore at the current prices are profitable, but chrome is the challenge," Steenkamp told Reuters in an interview on Tuesday.

ARM develops its ferrous assets in a 50:50 joint venture with metals trading group Assore.

By: Reuters

28th April 2009

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