MRF - Merafe Resources Limited - Shareholders Announcement

MRF - Merafe Resources Limited - Shareholders Announcement                      
MERAFE RESOURCES LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
Registration number 1987/003452/06                                              
Share Code: MRF                                                                 
ISIN: ZAE000060000                                                              
("Merafe")                                                                      
Shareholders Announcement                                                       
Further to the announcement dated 14 February 2012, shareholders are advised    
that the Xstrata-Merafe Chrome Venture ("the Venture") has reached an agreement 
with Eskom to assist with the power utility`s power supply requirements. The key
features of this arrangement are:                                               
*    The Venture will temporarily close five of its furnaces until 31 May 2012; 
*    In return, Eskom will buy-back the energy not consumed by these five       
    furnaces until 31 May 2012;                                                 
*    The arrangement, which is effective from 18 February 2012 until 31 May     
    2012, will have a net positive economic impact for both the Venture and     
    Eskom and will not result in job losses at these five furnaces.             
Four of the temporary furnace closures will be at the Venture`s Rustenburg      
smelter, which is currently the Venture`s least energy efficient operation, and 
one furnace will be temporarily closed at the Wonderkop smelter. As shareholders
are aware, the completion of the pelletising and sintering plant ("Project      
Tswelopele") at the Rustenburg smelter in the second half of 2012, will improve 
the energy efficiencies at the Rustenburg smelter. As a result of the           
arrangement with Eskom, the ferrochrome production loss to the Venture is       
estimated to be 100,000 tonnes.                                                 
Sandton                                                                         
17 February 2012                                                                
Sponsor                                                                         
Deutsche Securities SA (Proprietary) Limited                                    
Date: 17/02/2012 09:18:39 Supplied by www.sharenet.co.za                     
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