Established in 1987, Merafe Resources is a black economic empowerment company whose major shareholders are RBH and the Industrial Development Corporation. Through its wholly owned subsidiary, Merafe Ferrochrome & Mining (Pty) Limited, it participates in the Xstrata-Merafe Chrome Venture, the world’s largest ferrochrome producer. The Xstrata-Merafe Chrome Venture is a joint venture with Xstrata South Africa (Pty) Limited, a wholly-owned subsidiary of Xstrata plc. In terms of the agreement, the companies combined their ferrochrome operations in 2004 to form the largest ferrochrome producer in the world and this secured Merafe Resources’ participation in the combined earnings of the venture.
Merafe has embarked on a strategy to grow and diversify within the resources sector by using its empowerment credentials to access opportunities created by the change in the South African mining legislation and the Mining Charter.
| RBH holding in Merafe | 29.4% |
| Date of acquisition | 1999 |
| Nature of business | 20.5% participation in the Xstrata-Merafe Chrome Venture, the world’s largest integrated ferrochrome producer |
| Listings | JSE (MRF) |
| Free float | 48.2% |
| Issued shares | 2.46 billion |
| Market cap | R5.75bn – 31 December 2007 |
| Relationship | Largest shareholder |
| Significant comment | Component of the JSE Socially Responsible Investment (SRI) Index |
Sinter plant project exceeds expectations
Date, 11 April 2008
Mzila Mthenjane
