Zestaponi Ferroalloy Plant, and Chiatura Management Company, Georgian Manganese – a producer and an exporter of ferroalloys, manganese ore and manganese ores – have suspended their operations until March 1, following a “significant decrease” in the silicomanganese price on the global market, and a decreased demand during the past two years.
Georgian Manganese, in a social media statement, linked the complete shutdown of the production process at Chiathura with the “radical” protest of the residents of Shukruti village.
Georgian Manganese said that “picketing by locals” had caused “difficulties” in Chiatura Management Company supplying ore. It claimed that this had “paralyzed” seven out of twelve mining operations in the western town.
Georgian Manganese announced that the Plant would enter temporary management. Production capacities will be “completely closed” and ferroalloys production halted. Employees will receive 60% of their salaries during this period and “maintain full insurance benefits”.
The company said that management “remains optimistic” about an improvement in global market conditions. This, it said, would allow an earlier return to operations.
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