[miningmx.com] – THE European benchmark ferrochrome price had been settled at 104 US cents per pound (c/lb) in the fourth quarter, a 3.7% decrease from the 108c/lb agreed in the third quarter, said Merafe Resources.
However, Zanele Matlala, CEO of Merafe, said in August that the company was well positioned in the market as a low cost producer which would help it withstand current weak market forces.
It announced a R25m interim dividend and cut debt owned to banks by R50m despite booking a near halving in headline share earnings to five South African cents from 8.9 cents at the interim stage in 2014.
