Merafe produced 709t ferrochrome in the third quarter 2025

Merafe Resources’ attributable ferrochrome production from the Glencore Merafe Chrome Venture in the third quarter ended 30 September 2025 was 709t, resulting in a decrease of approximately 51% in production for the nine months ended 30 September 2025 compared to the nine months ended 30 September 2024.

This reduction in production is primarily attributable to the suspension of production at its smelters due to adverse market conditions.

The Company’s attributable chrome ore production from the Venture in the Third Quarter was 267kt, resulting in a decrease of approximately 3% in production for the Current Period compared to the Prior Comparative Period. This decrease in production is mainly as a result of temporary equipment breakdowns experienced during the Current Period.

The Company’s attributable platinum group metals (PGMs) concentrate production from the Venture in the Third Quarter was 4koz, resulting in an increase of approximately 6% in production for the Current Period compared to the Prior Comparative Period. This increase in production is largely due to higher feed tonnages.