Ann: Media Release Net Profit $106.4 Million for the Half Year, page-22

Has anybody looked closely at the tonnages/income  set out in the report?
" FeSi volumes produced and traded from the Group’s 75% owned smelter in Sarawak increased by approximately 21% to 104,927 tonnes with a corresponding revenue contribution of A$213.8 million for 1H 2018. "
Therefore  amount received for FeSi was $2037.60 /tonne

" 6 modified furnaces in full production producing manganese alloy (high carbon ferromanganese and silico manganese) in 1H 2018, there was an approximately 138% increase in tonnages of manganese alloys produced and traded of 139,204 tonnes. This resulted in a revenue contribution of A$224.3 million from manganese alloys for 1H 2018"
Therefore amount received for Mn alloys was $1611.30/tonne


Fesi is extremely profitable. The larger power requirement to produce FeSi explains why its so profitable, all due to the cheap power at SCORE in Sarawak.

Fesi uses far more power than Mn alloys. It takes 8000KWh to produce 1 tonne of FeSi and  takes an average of 4000KWh to produce one tonne of Mn alloys, it takes more KWh for SiMn and less for FeMn.

For the power requirement to produce  one tonne of FeSi is 8,000 Kwh x Rm0.14 (AUD$0.048 or US$0.034) = AUD $384.
Power consumption normally relates to 50% of the cost to produce Ferro silicon
In Japan or Indonesia with US$0.09/KWh  power it would cost AUD$960.