Merafe Resources H1 ferrochrome output down 42% on year

摘要

South Africa miner Merafe Resources’ ferrochrome production fell 42% year on year in the first half of 2020 to 120,000 mt, the company said July 27. “The decrease is as a result of production cutbacks in response to COVID 19, market conditions and electricity curtailments to a limited extent,” the company said in a statement. Johannesburg-listed Merafe has a 20.5% stake in the Glencore-Merafe Chrome Venture in South Africa — the world’s largest ferrochrome producer — with the rest held by Glencore. Merafe’s revenue and operating income are primarily generated from the Glencore- Merafe Chrome Venture with a total installed capacity of 2.3 million mt a year of ferrochrome.