Merafe posts 18% lower sales in Q4

[miningmx.com] – FOURTH quarter ferrochrome sales for Merafe Resources were 18% lower owing to logistical constraints and weaker demand, the company said, adding however that output was 3% higher, and 5% higher for the year.

The improvement in production was down to the commissioning of the R4bn Project Lion II in which Merafe has a one quarter share with the balance owned by Glencore. It said the project would reach nameplate capacity by mid-2015.

However, full year ferrochrome sales volumes for 2014 was marginally higher than the prior year, the company said. Merafe reported attributable sales of 255‚000 tonnes of ferrochrome for its 2013 financial year.