Merafe reports R720m half-year profit on higher chrome ore prices, weaker currency

IMFA First Quarter Earnings of Fiscal Year Ended June 30, 2024

Ferrochrome production attributable to the Johannesburg Stock Exchange-listed Merafe Resources from the Glencore Merafe Chrome Venture for the six months to June 30 was a 17%-lower 154 000 t compared with the same period in 2023.

In unpacking production and export figures for chrome and ferrochrome in 2023 and the first quarter of this year, the International Chromium Development Association (ICDA) has confirmed that China and South Africa continue to drive the chromium market.

Mining production in South Africa was flat year-on-year in May 2024, after an upwardly revised 1.4% rise in the prior month.

Tharisa, the mining, metals, and innovation company dual-listed on the Johannesburg and London stock exchanges, announces its production results for Q3 FY20241 and cash balance as at quarter end.

In the Abay region of Kazakhstan, a Turkish company plans to build a ferroalloy plant and mining-processing complex worth $79.2 million. The project will start in mid-2027.

Zimbabwe’s ferrochrome miners, the nation’s biggest electricity consumers, have agreed to build their own power plants over the next two years as the government seeks to balance energy demand.