Merafe Resources Limited announced production results for the fourth quarter and year ended December 31, 2016. For the quarter, the company's attributable ferrochrome production was 107 kt compared to 101 kt a year ago.

For the year, the company's attributable ferrochrome production was 393 kt compared to 377 kt a year ago. The company's attributable ferrochrome production from the Glencore Merafe Chrome Venture for the year ended 31 December 2016 increased by 4% compared to the prior year. Production volumes were managed across the quarters of the year through timing of furnace refurbishments to optimize stock levels.

For the year ended 31 December 206, the company expects basic earnings per share of between 20.0 cents and 23.5 cents, compared to 13.7 cents for the prior year, which is an increase of between 46% and 72%; and headline earnings per share of between 20.0 cents and 23.5 cents compared to 13.9 cents for the prior year, which is an increase of between 44% and 69%.