South African ferrochrome in meltdown, urgent intervention needed

South Africa’s ferrochrome industry is speaking with one voice when it says that its in meltdown mode – but at least one trader is as vociferous that the proposed imposition of a temporary export tax will also cause economic hurt. It is the...

Merafe ferrochrome sales fall, profit plunges

The ferrochrome sales of JSE-listed Merafe Resources fell 13% and profit plunged 58% in the year to December 31. The profit and total comprehensive income, Merafe CFO Zanele Matlala reported, was R117-million compared with R279-million for 2010.

Company Announcement: Shareholders Announcement

Further to the announcement dated 14 February 2012, shareholders are advised that the Xstrata-Merafe Chrome Venture (“the Venture”) has reached an agreement with Eskom to assist with the power utility’s power supply requirements. The key...

Power uncertainty causing ferrochrome project standstill as demand lifts – Merafe

Ferrochrome producers are very bullish on future demand, but electricity uncertainty has caused the project pause button to be pushed. Although researchers indicate the possibility of “seriously high” demand, that extremely positive outlook...

Power uncertainty causing ferrochrome project standstill as demand lifts – Merafe

Ferrochrome producers are very bullish on future demand, but electricity uncertainty has caused the project pause button to be pushed. Although researchers indicate the possibility of “seriously high” demand, that extremely positive outlook...

Lonmin signs UG2 tailings retreatment contracts for chrome removal

The world's third-biggest platinum producer Lonmin signed two contracts for the construction of chrome recovery plants (CRPs) to treat tailings from its UG2 concentrators at its Marikana operation in South Africa. The company announced on Tuesday...

Anglo-suitor Xstrata puts its best production foot forward

Anglo American-suitor Xstrata on Tuesday put its best production foot forward ahead of Anglo’s own presentation of financial results on Friday. The London- and Swiss-listed diversified miner, which wants Anglo to join it in a merger of equals...

Daily podcast – July 8, 2009

In today's podcast: Merafe Resources announces that it's recommissioning several furnaces in response to strengthening global demand for ferrochrome; and underground trial mining at junior gold-miner Central Rand Gold's Consolidated Main Reef...

Xstrata-linked Merafe shares rise 6% on strengthening ferrochrome demand

The share price of the JSE-listed Merafe Resources rose more than 6% in just over half an hour on Wednesday morning after the company announced that it was recommissioning several furnaces in response to strengthening global demand for...

Ferrochrome price seen to have bottomed, survey forecasts new highs for gold, big Mozambique coal project under way

Merafe Resources CEO Steve Phiri believes that the ferrochrome price has bottomed at the European benchmark price of US69c/lb. Read on page 5 of this edition of Mining Weekly of Phiri’s belief that the price “can only go up from here”. Phiri...

‘We believe the ferrochrome price has bottomed’ – Merafe

“We believe that the ferrochrome price has bottomed,” Merafe Resources CEO Steve Phiri told Mining Weekly Online on Monday, after the European benchmark price had settled 13% down at 69 c US/lb. “The price can only go up from here,” Phiri...

LEAN TIMES BUT NO CASH BURN

Ferrochrome producer Merafe had a fourfold earnings increase in 2008, but has no illusions about the lean times that have befallen the industry. Merafe CEO Steve Phiri (foreground) and Merafe CFO Stuart Elliot (background) reported that the...