JOHANNESBURG (miningweely.com) – Ferrochrome and Chrome Ore prices
recovered from rock bottom in the first quarter of last year to levels twice and four
times higher respectively in 2017, a year in which a shortage of electricity supply
has ceased to be a constraining factor, Ferrochrome company Merafe reports.
Despite market volatility in the 12 months to December 31, coupled with the
challenges and cost pressures faced by the South African Ferrochrome Industry, the company, headed by CEO Zanele Matlala, reported the second highest headline
earnings in its history – and goes into the New Year (2017) with a strong demand
outlook. The JSE-listed Merafe Resources shares in 20.5%
of the Glencore-Merafe Chrome Venture’s earnings
before interest, taxation, depreciation and amortisation (Ebitda), which increased by 29% from the prior year to
R5 702-million in the 12 months to December 31, 2016.