Commentary on results:
Merafe’s revenue and operating income are primarily generated from the Glencore-Merafe Chrome Venture (“Venture”) which is one of the global market leaders in ferrochrome production, with a total installed capacity of 2.3m tonnes of ferrochrome per annum. Merafe shares in 20.5% of the earnings before interest, taxation, depreciation and amortisation (“EBITDA”) from the Venture. Merafe has one reportable segment being the mining and beneficiation of chrome ore into ferrochrome and as a result no segment report has been presented.
Key features
- 5.5% increase in
total revenue
to R2.721bn (June 2017: R2.580bn) - Production costs per tonne managed to a 4.8% increase from December 2017
- Net cash decreased
to R331m2 (December 2017: R600m2) - 2.4% improvement
in TRIFR1
to 3.65 (December 2017: 3.74)
-
Other details
Merafe Resources Limited
(incorporated in the Republic of South Africa)
Company Registration Number: 1987/003452/06
Share code: MRF
ISIN: ZAE000060000
("Merafe" or "the Company" or "group") -
Commentary
Commentary
Merafe’s revenue and operating income are primarily generated from the Glencore-Merafe Chrome Venture (“Venture”) which is one of the global market leaders in ferrochrome production, with a total installed capacity of 2.3m tonnes of ferrochrome per annum...
Read more
