Manganese Underlying EBIT was US$1,644 million, a significant increase of US$1,391 million or 549.8 per cent compared to the year ended 30 June 2007. This increase was mainly due to higher sales prices achieved for alloy and ore as well as record manganese ore and alloy sales volumes. Manganese alloy production at 775,000 tonnes was 5.9 per cent higher than the previous year mainly as a result of operating efficiencies at the alloy plants and reduced down time for major rebuilds. Production was slightly offset by Metalloys Plant (South Africa) operating at lower levels to comply with the mandatory reduction in power consumption. Manganese ore production was 6.6 million tonnes, an increase of 9.4 per cent compared to the corresponding period. Both were production records. This positive result was slightly offset by increased distribution costs, unfavourable exchange rate impacts and higher ore development, coke and labour costs. A portion of the increase in costs was deliberately incurred to maximise production to take advantage of the high prices.
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