Merafe improves production, cuts debt levels

JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe Chrome Venture for the year ended December 31, increased by 4% to 107 t, compared with the 101 t produced in 2015. Merafe said in statement last week that it expects to report basic earnings a share of between 20c and 23.5c for the full year, compared with the 13.7c recorded in the prior year, which would be an increase of between 46% and 72%.