NEWS

Evraz Highveld Steel and Vanadium to cease production of iron

Tuesday, Jul 21, 2015

Evraz Highveld Steel And Vanadium Ltd

Intention of company to resume production once adequate funding has been secured.

All plant and equipment will for moment be placed in care and maintenance and prepared for future start up.

Decided to cease production of ironmaking division, which was necessitated by amongst others delayed debtors payments, inadequate cash to procure required raw materials.

Sustainable operations are not viable at current low demand and poor selling prices.

 

reuters.com

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