Merafe withholds dividend after profit plunges on weak chrome prices
Fall in the European benchmark price for ferrochrome hits Glencore partner
05 August 2019 - 10:11
Merafe Resources withheld its interim dividend after profit fell by nearly two-thirds due to weak chrome prices.
The mining company, whose primary source of revenue is a 20.5% stake in a chrome joint venture with globally diversified miner and commodity trader Glencore, reported profit of R165m for the six months to end-June, compared with profit of R425m the year before...
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