Merafe Resources

Organisational

Overview

Our

Business

Investors

Media & other stakeholders

Organisational overview / Group overview

Group profile

We are listed on the Johannesburg Securities Exchange (JSE) in the General Mining sector under the share code MRF. Our business has a 20.5% participation through our wholly-owned subsidiary, Merafe Ferrochrome, in the earnings before interest, tax, depreciation and amortisation (EBITDA) of the Venture in which Glencore Operations South Africa Proprietary Limited (Glencore) has a 79.5% participation.

Our group structure

Merafe and Glencore Operations South Africa Proprietary Limited (Glencore) formed the Venture in July 2004 when we pooled our chrome operations to create the largest ferrochrome producer in the world.

Our shareholders

Our operating context

90%

of the ferrochrome produced is used in stainless steel and specialty steels

Global Stainless steel production increased from 51.5 million tonnes in 2020 to 58.9 million tonnes in 2021.

Challenges faced by South African ferrochrome producers

  • Increasing production costs
    • electricity
    • labour
  • Socio-political challenges
  • Legislative uncertainty
  • Commodity prices and demand
  • Chrome ore exports
  • Electricity supply
  • Logistics

Our leadership

CEO

Zanele Matlala

Financial Director

Ditabe Chocho

Chairperson

Abiel Mngomezulu

Zanele joined the Merafe Board in 2005 as an independent non-executive director. She was appointed Merafe's Chief Financial Officer on 1 October 2010 and Chief Executive Officer on 1 June 2012. She is a non-executive director of Dipula Income Fund, Stefanutti Stocks Holdings Limited, RAC Limited and Royal Bafokeng Platinum Limited. Zanele is a member of the Social, Ethics and Transformation Committee and an invitee to the Audit and Risk Committee and the Remuneration and Nomination Committee.

Zanele Matlata

Ditabe joined Merafe on 1 August 2018 having previously been the Company’s Chief Financial Officer in 2013 and 2014. Ditabe is a qualified South African Chartered Accountant and he has extensive experience in financial and investment management gained during his tenure at various companies including Zico Capital Proprietary Limited, Aflease Gold, Uranium One Limited ,Transnet SOC and Fraser Alexander Proprietary Limited. He also served as Chief Financial Officer of MultiChoice Africa Proprietary Limited (“MultiChoice”) and subsequently served as Chief Financial Officer and Chief Operating Officer of DSTV Online, a division of MultiChoice in 2012. Ditabe is a member of the Social, Ethics and Transformation Committee and an invitee to the Audit and Risk Committee and the Remuneration Committee.

Ditabe Chocho

Abiel joined the Merafe Board as an independent non-executive director in September 2010 and became Chairperson in May 2019. He was previously the President and Chief Executive Officer of Mintek, a state-owned enterprise responsible for mineral extraction technologies and beneficiation. Abiel also served on several boards of state-owned institutions involved in the mining sector. He is currently also a director at Tshikululu Social Investments. Abiel is Chairperson of the Merafe Nomination Committee, an invitee to the Audit and Risk Committee and a member of the Social, Ethics and Transformation Committee.

Abiel Mngomezulu

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latest Integrated Report 2022