Merafe Resources has announced a further extension of its long-standing chrome ore marketing agreement with Glencore, pushing the expiration date to January 23, 2026.
The agreement, established in May 2014, appoints Glencore International as the exclusive marketing agent for chrome ore produced by the Merafe-Glencore pooling and sharing venture (PSV).
All other terms of the contract remain unchanged.
Under the arrangement, Glencore holds the sole right to sell the PSV's entire chrome ore production.
In return, the venture pays Glencore International a sales commission based on the revenue generated from these sales.
The cost of this commission is shared among the partners in proportion to their stakes in the venture's earnings.
Merafe bears 20.5% of the commission, while Glencore South Africa covers the remaining 79.5%.
Mathew Nyaungwa, Editor-in-Chief, Rough & Polished
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