Assore Profits Up, Projects on Schedule

Mining Weekly wrote that Assore Ltd. (JNB:ASR) indicated its profits are up on increases in iron ore prices even though manganese and chrome prices are predicted to remain stable.

The editorial is quoted as saying:

Capital of R1,2-billion has been spent on the Khumani expansion project in the period, to meet the timing of Assmang’s increased export allocation on the Sishen-Saldanha iron-ore export line from 10-million tons a year to 14 -million tons a year by mid-2012. Furnace rebuilds in Assmang’s manganese and chrome divisions absorbed R216-million.

To read the full editorial, click here.