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Production Report
Merafe’s attributable ferrochrome production from the Glencore Merafe
Chrome Venture for the six months ended 30 June 2020 decreased by 42%
compared to the prior comparative period. The decrease is as a result of
production cutbacks in response to COVID 19, market conditions and
electricity curtailments to a limited extent.
Basic earnings and headline earnings per share
Shareholders are hereby advised that Merafe is expecting to report a
basic loss per share and headline loss per share of between 2.79 cents
and 3.41 cents for the six months ended 30 June 2020, compared to a
basic earnings per share and headline earnings per share of 6.6 cents
for the prior comparative period.
The expected decrease in basic earnings and headline earnings per share
is primarily driven by substantially lower chrome ore and ferrochrome
prices and lower sales volumes which were partially offset by a weaker
average Rand:US$ exchange rate.
Table: Production
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Six months ended 30 June 2020 |
Six months ended 30 June 2019 |
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Attributable ferrochrome production (kt) |
120 |
206 |
Source:
Merafe Resources |
(To contact the reporter on this story: jemma.shang@steelhome.cn or 86-555-2238875 18155520624) |
