Latest news with #ferrochrome
Yahoo
5 days ago
- Business
- Yahoo
Kazchrome, a subsidiary of Eurasian Resources Group, sets a new global industry record in ferrochrome production
Kazchrome, a subsidiary of Eurasian Resources Group, sets a new global industry record in ferrochrome production Kazchrome, a subsidiary of Eurasian Resources Group, sets a new global industry record in ferrochrome production ASTANA, Kazakhstan, July 25, 2025 (GLOBE NEWSWIRE) -- TNC Kazchrome JSC, a subsidiary of global mining and metals company Eurasian Resources Group, produced 150 tonnes of ferrochrome from an electric arc furnace in a single process cycle, under the supervision of independent experts. This is the maximum single individual ferrochrome extraction ever documented worldwide, achieved at Kazchrome's Aktobe Ferroalloys Plant, with 177 tonnes of high-carbon ferrochrome been produced. This feat demonstrates the effectiveness of the company's innovation process, which has enabled its equipment to operate beyond its design capacity. This milestone achievement was documented by independent experts using certified measuring instruments and officially registered by the World Book of Records (WBR). Every step of the production stage, from the release of the metal to cooling, weighing, and recording, was verified. "This record is a major technological breakthrough and clear evidence that ERG remains a leader and demonstrates resilience and growth potential despite global challenges," said ERG's CEO, Shukhrat Ibragimov. "Setting records in heavy industry is a rare occasion, which makes today's achievement even more valuable. It goes beyond just one enterprise. It strengthens Kazakhstan's reputation in the sphere of technology and reflects the potential of the broader industry," said Kuandyk Kudaibergenov, World Book of Records' General Officer for Asia and Africa. "It is the result of daring engineering solutions and true teamwork. In the Year of Vocational Professions and the year of Kazchrome's 30th anniversary, it is a sign that our country can and should shape a world-class industry. I am proud of the team of the Aktobe Ferroalloys Plant: you not only achieved maximum output, but made history," said Sergey Prokopyev, Director General of TNC Kazchrome JSC. About Kazchrome Kazchrome is a leading high-carbon ferrochrome producer with a diversified and reliable global customer base supported by excellent infrastructure and logistical access. Headquartered in Kazakhstan, the company mines more than 6 mln tonnes of chrome ore per annum. In 2024, Kazchrome achieved a record production output, increasing total ferroalloy production by 14% year-over-year to over 1.85 million tonnes, marking an all-time high for the company. The company includes four divisions: the Donskoy Ore Mining and Processing Plant (Khromtau, Aktobe Region), the Kazmarganets Mining Enterprise (Karaganda Region), and the Aksu (Pavlodar Region) and Aktobe (Aktobe Region) Ferroalloys Plants. About Eurasian Resources Group The owner of Kazchrome is Eurasian Resources Group (ERG). ERG is a global metals and mining company headquartered in Luxembourg. With around 67,000 employees, it is one of the largest employers in the industry. It has integrated mining, processing, energy, logistics, and marketing operations. It is one of the world's largest producers of ferrochrome and cobalt, and a leading international supplier of copper and iron ore. In Kazakhstan, it operates through Kazchrome, Sokolov-Sarbai Iron Ore Mining Production Association (SSGPO), Kazakhstan Aluminium Smelter, Aluminium of Kazakhstan, and Eurasian Energy Corporation, among other subsidiaries. ERG is a key power supplier and a large railway operator in Central Africa, Frontier is the cornerstone of the Group's copper business in the DRC, while Metalkol represents a major tailings reprocessing operation. Metalkol has become one of the world's largest cobalt producers and a major copper producer. Its commercial operations span across more than 40 countries in Asia, Europe, Africa, and the Americas. The Government of the Republic of Kazakhstan is the Group's main shareholder (40% stake). Shukhrat Ibragimov, appointed in 2024, serves as ERG's CEO and Chairman, bringing with him extensive industry experience. For further informationpress@ Photos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
08-07-2025
- Business
- Zawya
South Africa: Govt's proposed chrome export tax threatens jobs
South Africa's proposed chrome ore export tax will hurt miners' profitability and lead to job losses across the sector, the country's Minerals Council has said. Africa's most advanced economy is the world's biggest exporter of chrome, which is mostly used in the manufacture of stainless steel. South Africa also used to be the biggest global producer of ferrochrome, a combination of chrome and iron, but lost that pole position to China, mostly due to high electricity costs which have forced many smelters to shut. On June 26 2025, South Africa's cabinet announced it had agreed to lower power tariffs for chrome smelters as well as a proposal to impose a tax on chrome ore exports as part of efforts to stop the decline of the ferrochrome industry. The Minerals Council South Africa (MCSA), which represents the country's biggest miners, said in a statement that the tax "would not achieve the government's aims of sustaining the ferrochrome industry and the preservation of jobs". It would instead "hurt chrome producers and the significant contribution this industry makes to both South Africa's economy and the jobs it sustains and grows". South Africa's chrome sector directly employs 25,000 people and earned the country R85bn ($4.85 billion) in export revenue in 2024, according to the Minerals Council. It exported a record 20.5 million metric tons of chrome concentrate in 2024, mostly to China, the world's biggest importer of the commodity. Companies mining and processing chrome in South Africa include Glencore, Tharisa Plc and South32.
Zawya
08-07-2025
- Business
- Zawya
Oman Chromite boosts stake in ferrochrome venture
MUSCAT: Oman Chromite has increased its equity stake in Gulf Alloys and Metals (FZC) LLC, the operator of a low-carbon ferrochrome smelter at SOHAR Port and Freezone, further strengthening its position in the value-added segment of the chrome supply chain. The company disclosed last week that the additional investment was funded entirely from internal accruals, underscoring its financial stability and long-term commitment to downstream integration. The publicly-traded mining firm, partly owned by Minerals Development Oman (MDO), says it anticipates a positive upturn in its financial and operational performance on the back of a number of notable milestones achieved during 2024. Most significant has been the acquisition of a new mining concession which, upon development, is set to bolster access to new chromite ore deposits and reverse a decline in availability of this key commodity. 'The company's acquisition of an exploration and mining concession for Area 11-A, located in northern Oman with an area of 1,438 km², represents one of the most significant achievements in its history,' said the Chairman of the Board of Directors. 'This area is expected to help address previous challenges such as the lack of available sites and the depletion of ore reserves in the company's old mines. Exploration activities have already commenced,' he added in the Directors' Report for fiscal 2024. Chromite ore (also known as chrome ore) is processed to make metallic chromium, which is used in the production of stainless steel, in chromium plating and as an alloy in cast iron and steel. Chromium compounds are also used as colours in paint, ceramics and plastics; and as a catalyst in making chemicals and refining oil. Additionally, it is used as a refractory in furnace linings. Established by Royal Decree in 1991, Oman Chromite produces metallurgical and refractory chromite ores for a variety of industrial applications. In June 2022, the company entered into a joint arrangement with MDO — a subsidiary of Oman Investment Authority (OIA) — to share the cost of exploration, evaluation and feasibility phases covering the development of two sites at Liwa and Mahadha. MDO holds a 25.4 per cent stake in Oman Chromite. Gulf Alloys' ferrochrome smelter, in which Oman Chromite originally held a 20 per cent stake, began operations last year, with a second production line launched in January 2025. The expansion is expected to further bolster Oman Chromite's earnings. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
05-07-2025
- Business
- Yahoo
South Africa's proposed chrome export tax could lead to job losses
The South African mining industry is facing a potential challenge as the government's proposed chrome ore export tax could negatively affect miners' profitability and lead to job losses, according to a report by Reuters. The Minerals Council South Africa, representing the country's major miners, has expressed concerns that the tax will not support the government's goals of preserving the ferrochrome industry and jobs. South Africa, the world's largest exporter of chrome, has seen its ferrochrome production decline, losing its leading position to China, primarily due to high electricity costs. This has resulted in many smelters shutting down operations. To address this, the South African cabinet announced on 26 June 2025 that it had agreed to lower power tariffs for chrome smelters and proposed a tax on chrome ore exports in a move to revitalise the ferrochrome industry. However, the Minerals Council believes that this move would 'have a negative impact on chrome producers and the significant contribution this industry makes to both South Africa's economy and the jobs it sustains and grows.' The chrome sector in South Africa is a significant employer, directly employing 25,000 people and generating R85bn ($4.85bn) in export revenue in 2024. The country exported a record 20.5 million tonnes (mt) of chrome concentrate in 2024, mainly to China. Companies such as Glencore, Tharisa and South32 are key players in the South African chrome mining and processing industry. South African coal and iron ore exporters, including Glencore and a unit of Anglo American, are preparing to sign investment agreements worth billions of rand with Transnet. These agreements, as stated by B4SA's head of transport and logistics Ian Bird, are to repair critical rail lines and enhance shipment capabilities. "South Africa's proposed chrome export tax could lead to job losses" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
03-07-2025
- Business
- Reuters
South African miners say proposed chrome export tax threatens jobs
July 3 (Reuters) - South Africa's proposed chrome ore export tax will hurt miners' profitability and lead to job losses across the sector, the country's Minerals Council has said. Africa's most advanced economy is the world's biggest exporter of chrome, which is mostly used in the manufacture of stainless steel. South Africa also used to be the biggest global producer of ferrochrome, a combination of chrome and iron, but lost that pole position to China, mostly due to high electricity costs which have forced many smelters to shut. On June 26, South Africa's cabinet announced it had agreed to lower power tariffs for chrome smelters as well as a proposal to impose a tax on chrome ore exports as part of efforts to stop the decline of the ferrochrome industry. The Minerals Council South Africa, which represents the country's biggest miners, said in a statement the tax "would not achieve the government's aims of sustaining the ferrochrome industry and the preservation of jobs". It would instead "have a negative impact on chrome producers and the significant contribution this industry makes to both South Africa's economy and the jobs it sustains and grows". South Africa's chrome sector directly employs 25,000 people and earned the country 85 billion rand ($4.85 billion) in export revenue in 2024, according to the Minerals Council. It exported a record 20.5 million metric tons of chrome concentrate in 2024, mostly to China, the world's biggest importer of the commodity. Companies mining and processing chrome in South Africa include Glencore (GLEN.L), opens new tab, Tharisa Plc (THST.L), opens new tab and South32 ( opens new tab. ($1 = 17.5148 rand)
