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Print[Ferro-Alloys.com] BHP Billiton’s manganese unit saw its total revenue fall 6.9% to USD1,012-million in the second half of 2012 vs. USD1,087-million in the same 2011 period, but underlying EBIT increased 18.8% by USD28-million to USD177-million in the same 2011 period.
Higher manganese ore sales, a weaker South African rand and controllable cash cost savings associated with broader productivity gains, increased underlying EBIT by a combined USD98-million
In contrast, a 4% reduction in the average realized price of ore and a 9% decline in the average realized alloy price reduced underlying EBIT by USD58-million, net of price linked costs.
The USD167-million (BHP Billiton share) GEEP2 expansion project is projected to strengthen GEMCO’s position as one of the lowest cost and largest manganese mines. On completion, the GEEP2 project will increase processing capacity from 4.2- to 4.8-million mtpy, with first production anticipated on schedule in the second half of 2013.
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