JOHANNESBURG (miningweekly.com) – Higher chrome ore and ferrochrome prices have contributed to significant improvements in Merafe Resources’ headline earnings for the 2017 financial year.
The company, which will publish its results on March 5, expects to report headline earnings a share of between 34.5c and 38.5c for the year, a 63% to 82% increase on the headline earnings a share of 21.2c reported for 2016.
Merafe on Monday noted that the higher prices had, however, been partially offset by lower chrome ore and ferrochrome sales volumes, a stronger average rand/dollar exchange rate and an increase in total costs per tonne of ferrochrome and chrome ore sold.