Afarak Group Plc Afarak Group: Production Report Q1 2021
April 29 2021 - 3:14AM
UK Regulatory
TIDMAFAGR
08:00 London, 10:00 Helsinki, 29 April 2021 - Afarak Group Plc ("Afarak"
or "the Company") (LSE: AFRK, NASDAQ: AFAGR)
Production report Q1 2021
The overall Afarak Group production during the first quarter of 2021
reduced by 50.6% when compared to same quarter of prior year.
Q1/2021 Q1/2020 Change FY 2020
Group production mt 37,728 76,405 -50.6 % 214,775
Mining mt 31,384 59,950 -47.7 % 184,779
Processing mt 6,344 16,456 -61.4 % 29,997
Speciality Alloys production mt 25,838 27,168 -4.9% 89,715
Mining mt 19,494 19,105 2.0% 73,306
Processing mt 6,344 8,063 -21.3% 16,409
FerroAlloys production mt 11,890 49,237 -75.9% 125,060
Mining mt 11,890 40,844 -70.9% 111,472
Processing mt 0 8,393 -100.0% 13,588
Mining
-- Afarak Group's mining activity decreased by 47.7% during the first
quarter of 2021 when compared to same period of prior year.
-- Reduced mining activity in the South African mines resulted in
significant lower mining volumes due to low market prices and poor
demand.
-- The mining activity at the Turkish mines was at same level as same period
last year as it increased marginally by 2.0%.
Processing
-- Processing volumes decreased by 75.9% during the first quarter of 2021
when compared to same period of the prior year.
-- The retracted demand of low carbon ferrochrome during 2020 started to
improve during the first quarter of 2021, however production was still
lower when compared to prior year at EWW plant in Germany.
-- The production in the FerroAlloys segment recorded during 2020 related to
processed material at Mogale plants which was reclassed to discontinued
operations during 2020.
Helsinki, April 29, 2021
AFARAK GROUP PLC
Board of Directors
For additional information, please contact:
Afarak Group Plc
Guy Konsbruck, CEO, +356 2122 1566,
https://www.globenewswire.com/Tracker?data=f4XAtHaUz9Iidx-_4AdZ6GpQHP1lwhsYO6eUoKmdlpcDDFTOy3IBBns9ySzV9G4LtqvzjMKEesxjMEvCXOGqSXH6h4ufyylpMAhoXB1jTA0o5qJEEXdQk8-InS4RWLxtymRBv5h5_Qd0-RgYXMrOYmENFslMU03EB_SvW2LZ3W1Iz-HdyaBWxq2tYS8iaXzmIDJAbomT__clWx_6nUGI1qKhDwBSeonMUk-n7sjNyrftYMHla_KiL9u9Addk-BRfESLyuBcJtGy4IVDOCDYOH0fd90Ie1xM_ztMB_r7aSyI=
guy.konsbruck@afarak.com
Financial reports and other investor information are available on the
Company's website:
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www.afarak.com.
Afarak Group is a specialist alloy producer focused on delivering
sustainable growth with a Speciality Alloys business in southern Europe
and a FerroAlloys business in South Africa. The Company is listed on
NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange
(AFRK).
Distribution:
NASDAQ Helsinki
London Stock Exchange
Main media
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www.afarak.com
Attachment
-- Afarak_Production report_2021_Q1_EN
https://ml-eu.globenewswire.com/Resource/Download/59cf976e-aa63-4f60-ab31-901c7cc8ea85
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April 29, 2021 03:14 ET (07:14 GMT)
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