MRF
MRF
MRF - Merafe Resources Limited - Shareholders Announcement
Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
("Merafe")
Shareholders Announcement
Ferrochrome production for the nine months to 30 September 2010
Ferrochrome production was 7% lower in the third quarter of 2010 compared to the
same period in 2009 to maintain optimum stock levels. Scheduled maintenance
typically conducted during the high winter tariff months for electricity,
resulted in an average operating capacity utilisation of 64%. Ferrochrome
producers settled the third quarter European benchmark price at $1.30 per pound
and achieved a roll-over European benchmark price of $1.30 per pound for the
fourth quarter. The continued strengthening of the South African rand, currently
trading at a three year record high against the US dollar and rising mining
inflation in South Africa continue to exert pressure on margins.
Q3 Q3 2009 Nine Nine
Chrome 2010 months to months to
30.09.10 30.09.09
Attributable saleable production 58,8 63,2 215,3 126,1
(kt)
Indicative average published price 130 89 122 79
(USCents (USD)/lb) (Metal
Bulletin)
Sandton
19 October 2010
Sponsor
Deutsche Securities SA (Pty) Ltd
Date: 19/10/2010 08:03:49 Produced by the JSE SENS Department.
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