Kazakh metals and mining group ENRC expects to increase its output to 2008 levels next year as markets recover, a senior company executive said.
“If the market develops the way we see it... then I think potentially (we are moving) towards reaching the 2008 output level (in 2010),” Felix Vulis, head of ENRC's Kazakh operations, told reporters.
“We do not believe that the signs we are getting from China at the moment mean full recovery,” Vulis said. “I think the full recovery will happen in 2010.”
ENRC, which produces iron ore, alumina, ferrochrome and other alloys, cut its output in late 2008 due to shrinking global demand. (Reuters)