Merafe cuts dividend as Ukraine war takes its toll
Junior empowerment partner in chrome joint venture with Glencore expects challenging year
20 March 2023 - 10:05
Merafe Resources, the junior empowerment partner in a chrome joint venture with Glencore, lowered its dividend as the war in Ukraine and high inflation added to supply chain constraints, pushing up costs.
The total dividend of the company, valued at R3.4bn on the JSE, was 13.8% lower year on year at R625m for the year to end-December, while net profit fell 15.8% to R1.41bn...
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