Merafe warns of profit drop amid price pressure
The junior partner in a venture with Glencore has previously cited unsustainable electricity price increases as a reason to cut jobs
28 August 2020 - 08:54
Merafe Resources, the junior empowerment partner in a chrome joint venture with Glencore, has warned of a sharp drop of profits in its half year to end-June, when mines and smelters were shuttered.
The group expects headline earnings per share to fall between 81% and 86% from the prior period’s 6.6c, while net cash has fallen to R263m from R354m previously, the group said in a trading update...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.