It is reported that Merafe Resources reported an 18% drop in third quarter production as weaker market conditions and scheduled maintenance saw the company operating at just above half its capacity.

Attributable production for the three months to end September 2011 came in at 48,000 tonnes. This compares to production of 58,800 tonnes for the same quarter of 2010.

The company said in a statement to the JSE that "In the third quarter of 2011, weaker market conditions and scheduled maintenance during the high electricity tariff winter months, resulted in an operating capacity utilization of 52%."

The fourth quarter European benchmark ferrochrome price was settled at USD 1.20 per pound a rollover from USD 1.20 per pound in the third quarter of 2011, but 10 US cents less than the USD 1.30 benchmark price for the third quarter of last year.

(Sourced from miningmx.com)