International Ferro Metals said that it would restart one of its two ferrochrome furnaces in mid April 2009, to convert its raw material inventory to finished product to contribute towards fixed overheads.

The ferrochrome furnace would until mid July, by which time the company would reassess the state of the ferrochrome market. IFM said that the market would need to improve from current levels to warrant a continuation of production.

It also announced that it might cut 135 jobs and that senior staff members would take a 10% salary cut. IFM said that it had started a consultation process with its employees and union representatives to reduce the number of people employed to a level that would be sufficient to operate the single ferrochrome furnace.

In November 2008, IFM shut down its two furnaces in South Africa in response to falling demand.

(Sourced from www.miningweekly.com)