Higher sales, weaker rand boosts Merafe year-end earnings
JOHANNESBURG (miningweekly.com) – Higher ferrochrome and chrome ore sales volumes and a weakening rand have boosted JSE-listed Merafe Resources’ earnings for the year to December 2013.
Merafe said in a trading statement on Thursday that basic earnings a share were expected to rise to between 7.8c and 8.7c during the year under review, up from the 2c reported during the year to December 2012.
An impairment loss, recognised as a result of Xstrata-Merafe joint venture’s consideration to sell the Horizon mine during the first half of the year, drove headline earnings a share higher to between 10c and 11.4c, compared with the 5.1c reported during the prior year.
Merafe expected to report a net overdraft balance of R10.7-million, R581-million in total debt owing to Absa Capital and the use of R194-million of a short-term inventory facility at closing on December 31.
The company would release its financial results for the year ended December on March 11.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















