ENRC close to full capacity

KAZAKH miner ENRC said it would continue to produce at or close to full capacity for the rest of the year and confirmed it would keep cost growth within its expectations, with the unit cost of sales expected to rise 20 per cent for the full year.

Ferroalloys account for roughly half the group’s earnings, and the London-listed company said that division operated slightly below full capacity in the three months to September while its other businesses were all at full capacity. It said material costs were on the rise, particularly coke and diesel fuel.