Merafe Resources jumps on profit hike

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FerroChrome REUTERS A labourer works in a ferrochrome factory. Ferrochrome is mainly used as an alloy in stainless steel to prevent corrosion.

Johannesburg - Shares of Merafe Resources jump after the ferrochrome producer says first-half earnings and production more than doubled.

Merafe says headline earnings per share, the primary measure of profit in South Africa, rose 134 percent to 8.9 cents while production climbed 16 percent in the period.

Its shares are up 6.2 percent at 1.37 rand. - Reuters



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