Afarak Group Plc Afarak Group Increases Its Production Of Ferrochrome
April 20 2017 - 1:03AM
UK Regulatory
TIDMAFAGR
07:00 London, 09:00 Helsinki, 20 April 2017 - Afarak Group Plc ("Afarak"
or "the Company")
AFARAK GROUP INCREASES ITS PRODUCTION OF FERROCHROME
Afarak Mogale successfully completes transition of second
silicomanganese furnace to ferrochrome.
Open-cast mining resumes at Mecklenburg.
Afarak Mogale is currently utilising all its operating furnaces to
produce ferrochrome following the successful transition of a second
furnace from silicomanganese to ferrochrome.
Prior to December 2016, Mogale only had one furnace dedicated to
ferrochrome. As a response to improved market conditions, Afarak Group
successfully converted two of its furnaces from producing
silicomanganese to ferrochrome; the first in December 2016 and the
second in April 2017.
It is expected that the new furnace will be producing an additional
2,300 tons per month. In addition, open-cast mining at Mecklenburg has
resumed and preparations are underway for underground mining with the
potential of accessing 20 million tons of chrome reserves. These
initiatives will further increase Afarak' vertical-integration and make
it more independent from third party suppliers of ore.
Guy Konsbruck
CEO
PR Ferrochrome South Africa:
http://hugin.info/143997/R/2096942/793560.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Afarak Group via Globenewswire
http://www.afarakgroup.com
(END) Dow Jones Newswires
April 20, 2017 02:03 ET (06:03 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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