Merafe achieved a record profit of R1 753 million despite a challenging economic environment. Demand for ferrochrome was weaker compared to prior years, which resulted in lower sales volumes and lower realised prices, whilst chrome ore sales volumes were significantly elevated and realised prices increased due to buoyant demand and supply constraints.
The board of directors of Merafe (the "Board") resolved to declare a final cash dividend of R550 million, bringing the total dividends for the 2023 financial year to R1 050 million (2022: R625 million).
