Swiss mining giant Xstrata said on Wednesday that it would spend $710-million on expanding a ferrochrome smelter in South Africa.
Under the project, the group will build a smelter with a capacity of 360 000 tonnes per year, bringing total ferrochrome capacity to more than 2,3-million tonnes per year.
The expansion is expected to create more than 1 000 jobs, with another 1 800 jobs to be generated during the construction of the smelter, said the group in a statement.
“This expansion further enhances Xstrata’s leading position in the ferrochrome market and will allow the group to benefit from anticipated growth in global demand for stainless steel,” said the group’s CEO, Mick Davis. — Sapa-AFP