Xstrata plc ("Xstrata") has approved the development of the second phase of its Lion ferrochrome complex expansion in South Africa. The expansion will involve the construction and commissioning of a 360,000 tonne per annum capacity smelter and will increase the Xstrata-Merafe chrome venture's ("the Venture") total ferrochrome capacity to over 2.3 million tonnes per annum.
Commenting on the decision, Xstrata Alloys's Chief Executive, Peet Nienaber said, (inter alia),
"The expansion will also allow us to significantly increase procurement from BEE enterprises, support the growth of new local enterprises and develop technical skills. These are some of the key pillars of the amended Mining Charter."
