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Financial|Resources
Financial|Resources
financial|resources

Merafe records marginal production increase in Q4

31st January 2019

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe Chrome Venture for the quarter ended December 31, 2018, increased marginally by 2.6% year-on-year.

The venture’s production for the year ended December 31, 2018, increased by 3.2% compared with the previous comparative period.

Full-year production represents 85% of installed capacity.

Merafe on Thursday said it expects to report a 17% to 32% decrease in basic earnings per share (EPS) and headline earnings per share (HEPS) of between 24.7c and 30.1c for the full-year, compared with the EPS and HEPS of 36.4c reported for the 2017 financial year.

This decrease in EPS is primarily as a result of lower ferrochrome prices, as well as lower volumes of chrome ore and ferrochrome sold.

These were partially offset by a stronger average rand, compared with the dollar.

The company’s financial results for the full-year are expected to be released on or about March 11.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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