Merafe achieved a profit of R720 million for the six months ended 30 June 2024, as a result of higher realised chrome ore prices and a weaker ZAR:USD exchange rate. Ferrochrome prices remain strained and cost increases continue to put pressure on margins. The efficiency of our operations provided some buffer to protect our profitability.
This report was prepared under the supervision of Ditabe Chocho CA(SA) (Financial Director). These unaudited condensed consolidated financial statements of Merafe for the six months ended 30 June 2024 have not been independently reviewed by the Company’s independent auditor, Deloitte & Touche.
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