MRF - Merafe Resources Limited - Third quarter 2011 ferrochrome production

MRF - Merafe Resources Limited - Third quarter 2011 ferrochrome production      
Merafe Resources Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1987/003452/06)                                           
JSE share code: MRF                                                             
ISIN: ZAE000060000                                                              
Third quarter 2011 ferrochrome production                                       
In the third quarter of 2011, weaker market conditions and scheduled maintenance
during the high electricity tariff winter months, resulted in an operating      
capacity utilisation of 52%. Ferrochrome production was 18% lower in the third  
quarter of 2011, compared to the 2010 comparative period.                       
The fourth quarter European benchmark ferrochrome price was settled at $1.20 per
pound, a rollover from $1.20 per pound in the third quarter of 2011, as per SENS
announcement dated 12 October 2011.                                             
                           Q3 2011   Q3 2010   Nine months to  Nine months to   
30.09.2011      30.09.2010       

 Attributable production   48.0      58.8      197.9           215.3            
 (kt)                                                                           
 Indicative average        120       130       127             122              
published ferrochrome                                                          
 price (USc/lb)                                                                 
 (Metal Bulletin)                                                               
Sandton                                                                         
18 October 2011                                                                 
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 18/10/2011 08:00:01 Supplied by www.sharenet.co.za                     
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