https://www.miningweekly.com

Merafe increases FY output, reduces debt

Glencore Merafe Chrome Venture chrome refinery

Glencore Merafe Chrome Venture chrome refinery

26th January 2017

By: Ilan Solomons

Creamer Media Staff Writer

     

Font size: - +

JOHANNESBURG (miningweekly.com) – JSE-listed Merafe Resources’ attributable ferrochrome production from the Glencore Merafe Chrome Venture for the year ended December 31, increased by 4% to 107 t, compared with the 101 t produced in 2015.

Merafe on Thursday said that it expects to report basic earnings a share of between 20c and 23.5c for the full year, compared with the 13.7c recorded in the prior year, which would be an increase of between 46% and 72%.

Headline earnings a share are also expected to increase by 44% to 69% to between 20c and 23.5c compared with 13.9c in the prior year.

Merafe expects its net cash balance will decline to R263-million at December 31, compared with R310-million at the end of 2015, while its debt is expected to decrease to R409-million from R660-million the year before.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.058 0.96s - 114pq - 2rq
Subscribe Now