South32 Limited
(ASX:S32) and the Samanco JV will delay the restart of three furnaces at its Metalloys manganese operation in South Africa on weak alloy prices.
The recently divested company says high-carbon ferromanganese alloy prices have dipped 20 per cent this financial year.
A focus on per share return, rather than volume gains, has driven the decision.
The Semancor Manganese Joint Venture is the world’s largest producer of manganese with operations in Africa and Australia.
South 32 was spun out from BHP Billiton and listed on the ASX in May.
