Merafe Resources Limited (JSE:MRF)

Revenue by Segment

Financials in millions ZAR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Mining and Beneficiation of Chrome Ore into Ferrochrome and Associated Minerals	5.83B	8.44B	9.24B	7.94B	8.06B
Mining and Beneficiation of Chrome Ore into Ferrochrome and Associated Minerals Growth	-30.89%	-8.66%	16.44%	-1.53%	68.66%
Total	5.83B	8.44B	9.24B	7.94B	8.06B
Total Growth	-30.89%	-8.66%	16.44%	-1.53%	68.66%

Revenue by Geography

Financials in millions ZAR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Africa (Includes South Africa)	320.06M	720.58M	207.44M	219.31M	204.29M
Africa (Includes South Africa) Growth	-55.58%	247.36%	-5.41%	7.35%	-
Americas (Includes Brazil, USA and Mexico)	372.99M	581.04M	-	608.41M	494.94M
Americas (Includes Brazil, USA and Mexico) Growth	-35.81%	-	-	22.93%	38.46%
China	3.52B	4.13B	-	-	-
China Growth	-14.84%	-	-	-	-
Indonesia	140.06M	956.70M	-	-	-
Indonesia Growth	-85.36%	-	-	-	-
Other Asia	326.02M	554.46M	-	-	-
Other Asia Growth	-41.20%	-	-	-	-
Europe ( Includes Germany, Italy, Spain, France and Belgium)	725.49M	1.22B	-	-	-
Europe ( Includes Germany, Italy, Spain, France and Belgium) Growth	-40.74%	-	-	-	-
America (Includes Brazil and USA)	-	-	362.76M	-	-
Europe (england, Finland, Italy, Luxembourg, Netherlands, Slovenia and Spain)	-	-	1.22B	-	-
Asia (Includes China, India, Indonesia, Japan, South Korea, Taiwan, Singapore and Australia)	-	-	5.09B	4.79B	4.97B
Asia (Includes China, India, Indonesia, Japan, South Korea, Taiwan, Singapore and Australia) Growth	-	-	6.37%	-3.59%	-
South Africa	-	-	482.84M	123.83M	68.80M
South Africa Growth	-	-	289.92%	80.00%	55.12%
Asia, Australia, Mexico and Europe	-	-	1.74B	916.15M	967.29M
Asia, Australia, Mexico and Europe Growth	-	-	89.86%	-5.29%	32.01%
Europe (Includes Germany, Italy, Luxembourg, Spain, France and Belgium)	-	-	-	1.18B	1.35B
Europe (Includes Germany, Italy, Luxembourg, Spain, France and Belgium) Growth	-	-	-	-12.98%	-
Total	5.41B	8.17B	9.11B	7.83B	8.06B
Total Growth	-33.85%	-10.28%	16.24%	-2.75%	68.58%

Source: S&P Global Market Intelligence.