MERAFE RESOURCES LIMITED - Production report for the nine months ended 30 September 2015

Production report for the nine months ended 30 September 2015

Merafe Resources Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1987/003452/06)
JSE share code: MRF
ISIN: ZAE000060000
(“Merafe”)

Production report for the nine months ended 30 September 2015

Merafe’s attributable ferrochrome production from the Glencore Merafe
Chrome Venture (the Venture) for the first nine months of 2015 increased by
14.5% compared to the comparative 2014 period. This increase was primarily
attributable to the additional production from the Project Lion II
furnaces.

The Venture’s operating capacity utilisation for the nine months ended 30
September 2015 was 85% (77% of installed capacity).


                                                           Nine        Nine
                                                         months      months
                                                       ended 30    ended 30
                              Quarter 3   Quarter 3   September   September
                                   2015        2014        2015        2014
Attributable ferrochrome
production (kt)                      82          74         277         242

19 October 2015
Sandton

Sponsor:
Merrill Lynch South Africa Proprietary Limited

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