[miningmx.com] – MERAFE Resources said there had been a rollover in the price of the European benchmark ferrochrome for the third quarter of 2015 of $1,08 per pound, an outcome which keeps the benchmark unchanged in the year to date.
The company said in March that it had increased ferrochrome production 15% for the quarter ended March, an improvement it attributed to additional output from the Project Lion II furnaces.
Earlier in that month, Merafe CEO, Zanele Matlala said the company would pay a R20m dividend to shareholders, and that prospects for the company were firm.
“Stainless steel production is forecasted to grow by 5% per annum in the foreseeable future and given that we’re the lowest cost producer in South Africa, and the second lowest in the world, we’re poised to take advantage of that demand,’ Matlala said.
