Merafe is still trying to stabilise following several challenging years. Shareholders can expect that continued focus will be placed on existing operations, without too much acquisition or expansionary activity taking place. As with most JSE mining stocks, Merafe share price has been extremely volatile, but has enjoyed a solid rise in 2016. With global stainless steel production forecast to grow by 3.1% in 2017, it is expected that there will be increased demand for ferrochrome, which will benefit a producer such as Merafe and encourage investors to buy Merafe shares. It is expected that from 2018 onwards, free cash flow will be applied to paying some healthy dividends. Overall, the venture is profitable, has a healthy cash balance and is well positioned as one of the lowest-cost producers in the world, making Merafe shares a promising purchase.