CEO COMMENTARY ON RESULTS

Merafe achieved solid operational and financial results for the first half of 2021. Merafe recorded a profit after tax of R576m compared to a loss of R961m in the prior comparative period. An upswing in ferrochrome demand contributed to increased volumes sold and higher CIF prices realised, which were to some extent offset by a stronger average ZAR:US$ exchange rate. Despite the Lydenburg smelter being on care and maintenance, production volumes increased significantly due to current production being less affected by the COVID-19 restrictions coupled with improved plant efficiencies achieved at our smelters.


2021 half year in review

KEY FEATURES

No fatalities
(June 2020: No fatalities)

 

17% decrease in TRIFR1 to
3.24
(December 2020: 3.912)


Basic earnings per share of
23 cents
(June 2020: Basic loss per share of 38.3 cents)

 

25% increase in net asset value to
R2 848 million
(December 2020: R2 277 million)

 




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