Glencore Merafe Chrome Venture chrome refinery
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.