Chromite supply problems mount/Consumers on alert after a major Asian source of refractory grade chromite closes in the Philippines

摘要

CHROMITE SUPPLY IN Asia has just got even tighter following the closure of Philippines based Benguet Corp.'s Masinloc chromite mine. Benguet Corp. is the only producer of refractory grade chromite in the Philippines. The mine closed virtually over night and there has been a lot of confusion over the reasons to the closure, however the relevant management were unavailable for comment at the time of press. Bernard Kruger, owner of Cofermin Rohstoffe GmbH, a leading European trader in Chromite, told IAA: "It is always strange when a mine closes like this, especially when everybody is crying out for chromite. They must have good reasons particularly as demand and development is increasing. "The last I heard was the mine was full of water and investment was needed to pump it out... as far as I know we took the last tonnages out a few months ago. We have a contract with Benguet Corp., but they just have stopped delivering - that is one way of cancelling a contract."