Merafe Resources: Production report for quarter and year end

Sandton – Merafe’s attributable ferrochrome production from the Glencore Merafe Chrome Venture in the fourth quarter ended 31 December 2023 was 75kt, resulting in a decrease of approximately 22% in production for the year ended 31 December 2023 compared to the prior comparative period. The reduction in production is due to planned pullback in response to market conditions. As previously reported, only the Lion smelter operated over the 3-month high electricity demand winter season, a period of elevated power prices.