2022 has been characterised by a number of uncertainties. The Russia/Ukraine conflict contributed to the rise in global inflation and supply chain constraints. Cost pressures continue to mount, and this resulted in the Glencore-Merafe Chrome Venture's ("Venture") unit production costs rising by an unprecedented 30% year-on-year. Despite the challenges, Merafe recorded profit after TAX of R1 410 million driven by higher commodity prices and a weaker exchange rate.
The board of directors of Merafe (the "Board") has declared a FINAL CASH DIVIDEND of R325 million bringing the total dividends for the year to R625 million (2021: R725 MILLION).
Commentary
