The Mercury

Merafe, Xstrata to lift capacity

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Merafe Resources has agreed to join Xstrata in a project to expand the capacity of the biggest ferrochrom­e produce and will fund its R1 billion contributi­on with cash, debt and future revenue. The companies would construct a 360 000 ton smelter, raising annual ferrochrom­e capacity of the joint venture to 2.3 million tons, Merafe said on Friday. The company owns 20.5 percent of the Xstrata-Merafe chrome venture, the supplier of about a fifth of world demand for ferrochrom­e. – Bloomberg

FINANCE

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