JOHANNESBURG (minngweekly.com) – The demise of State power utility Eskom has caused South Africa to lose its optimal position in the lucrative ferrochrome business.
Because of Eskom’s decline, unbeneficiated chrome ore exports from South Africa to China have enabled the Asian giant to ascend up the ferrochrome production ladder. As reported by the Johannesburg Stock Exchange-listed chrome and ferrochrome company Merafe Resources on Monday, 76% of the chrome ore imported by China last year came from South Africa.
Merafe shares in 20.5% of the earnings before interest, taxation, depreciation and amortisation of the large Glencore-Merafe Chrome Venture, the world’s second lowest cost producer. Continue Reading →