MRF - Merafe Resources Limited - First quarter 2010 production update
MRF
MRF
MRF - Merafe Resources Limited - First quarter 2010 production update
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
("the Company")
First quarter 2010 production update
Shareholders of the Company are advised that ferrochrome production for the
Xstrata-Merafe Chrome Venture (the Venture) rebounded strongly during the first
quarter of 2010 in response to rising demand. This resulted in an increase in
the Venture`s ferrochrome production of 316% for the first quarter of 2010
compared to the same period in 2009. The European benchmark ferrochrome price
has increased by 35% from USD1.01 per pound in the first quarter of 2010, to
USD1.36 per pound in the second quarter. This increase was set against the
continued strengthening of the Rand against the US Dollar and electricity price
increases.
Ferrochrome Q1 2010 Q1 2009
Attributable production (kt) 79 19
Indicative average published price (USCents (USD)/lb) 101.0 79.0
(Metal Bulletin)
Sandton
5 May 2010
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 05/05/2010 08:00:01 Produced by the JSE SENS Department.
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