Higher chrome ore prices and weaker rand boost Merafe profit
Glencore joint venture partner hikes interim dividend by two-thirds
15 August 2023 - 09:50
Merafe Resources, the junior empowerment partner in a chrome joint venture with Glencore, reported a rise in interim profit thanks to higher realised chrome ore prices and a weaker rand against the dollar.
Profit of R1bn was 13.4% higher year on year despite being offset by lower ferrochrome prices, a decline in sales volumes and the greater costs of ferrochrome production in the results for the six months to end-June...
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