MRF
MRF                                                                             
MRF - Merafe Resources Limited - Ferrochrome production for the six months to 30
June 2010                                                                       
Merafe Resources Limited                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1987/003452/06)                                           
JSE share code: MRF                                                             
ISIN: ZAE000060000                                                              
("Merafe")                                                                      
Ferrochrome production for the six months to 30 June 2010                       
Shareholders of Merafe are advised that in response to rising demand,           
ferrochrome production for the Xstrata-Merafe Chrome Venture (the Venture) for  
the first half of 2010 was 149% higher than the same period in 2009.            
The strengthening of the Rand against the US Dollar coupled with the electricity
price increases in South Africa enabled ferrochrome producers to achieve a 35%  
increase in the European benchmark ferrochrome price from $1.01 per pound in the
first quarter of 2010 to $1.36 per pound in the second quarter of 2010.         
On 2 July 2010 Merafe announced that the European benchmark ferrochrome price   
was settled at $1.30 per pound for the third quarter of 2010, a decrease of 4%  
from the second quarter of 2010.                                                
Ferrochrome                           Six months Six       Year ended           
                                    to 30 June months    31                     
                                    2010       to 30     December               
                                              June      2009                    
2009                              
Attributable production (kt)          157        63        203                  
Indicative average published          118.5      74        85                   
price (USCents (USD)/lb) (Metal                                                 
Bulletin)                                                                       
Sandton                                                                         
27 July 2010                                                                    
Sponsor                                                                         
Deutsche Securities SA (Pty) Ltd                                                
Date: 27/07/2010 08:00:01 Produced by the JSE SENS Department.                  
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