ENRC rejigs expenditure to focus on quick wins

Although manufacturers continue to grumble about rising raw materials prices, ENRC begs to differ, with the diversified miner saying revenue declined sharply in the first nine months of 2012 due to lower selling prices for its principal commodities.

Although manufacturers continue to grumble about rising raw materials prices, ENRC begs to differ, with the diversified miner saying revenue declined sharply in the first nine months of 2012 due to lower selling prices for its principal commodities.

The fall in prices for iron ore and ferroalloys had the greatest impact, declining by 26% and 8% respectively. Revenue was further dented by lower sales volumes of ferroalloys, chrome ore, iron ore and alumina.

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