Merafe Resources, which reported a difficult year that included laying off a tenth of its workforce, warned of another frustrating year ahead beset by tariff hikes and Transnet’s failure to provide enough trains.

The company, a junior partner in a chrome mining and ferrochrome business with Glencore, reported a wider after-tax loss in the year to December as the Covid-19 pandemic resulted in suspended operations across SA’s mining industry from March, with a slow return to normality by September...