Ferrochrome price announcement for the first quarter of 2023

Merafe Resources has advised that the European benchmark ferrochrome price for the first quarter of 2023 has been settled at 149 US cents per pound, a rollover from the fourth quarter of 2022.

Merafe Resources business has a 20.5% participation through its wholly-owned subsidiary, Merafe Ferrochrome, in the earnings before interest, tax, depreciation and amortisation (EBITDA) of the Venture in which Glencore Operations South Africa Proprietary Limited (Glencore) has a 79.5% participation.

Merafe and Glencore Operations South Africa Proprietary Limited (Glencore) formed the Venture in July 2004 when they pooled their chrome operations to create the largest ferrochrome producer in the world.