JOHANNESURG (miningweekly.com) – Diversified mining and marketing company Glencore views the ferrochrome market as being particularly strong currently. “We’ve seen very healthy ferrochrome prices and good cash generation in that business,” Glencore CEO Gary Nagle said.
In response to Mining Weekly during a media conference following the company’s presentation of record half-year results, Nagle highlighted ferrochrome’s good fortune as being driven by the very strong global production of stainless steel, in which it is a key ingredient.
Fiscal stimulus has boosted demand for white goods and the like, and stainless steel and its ferrochrome twin have provided the necessary innards to meet that demand.
Nagle was unequivocal about ferrochrome forming part of the green revolution that is currently sweeping the world with ever-growing vigour: “Without a doubt it is,” was his comment on ferrochrome’s contribution.
“Obviously our South African ferrochrome business is slightly challenged in the sense that our Scope 2 emissions are quite high given that our electricity supply comes from Eskom.
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