Afarak Group Plc Afarak Group Plc'spublishes Financial Statements And Annual Report For 1 January -31 December 2020
17:00 London, 19:00 Helsinki, 1 April 2021 - Afarak Group Plc ("Afarak"
or "the Company") (LSE: AFRK, OMX: AFAGR)
AFARAK GROUP PLC'S PUBLISHES FINANCIAL STATEMENTS AND ANNUAL REPORT FOR
1 JANUARY - 31 DECEMBER 2020
Afarak Group announces that it has published today its Annual Report for
the year ended 31 December 2020 which is available from the Company's
The Annual Report for 2020 includes a detailed Strategic Review which
analysis the Company's operational and financial performance, risk
management and a sustainability review with a focus on the initiatives
undertaken with respect to health & safety, host communities and the
environment. A Governance Review highlighting the Board's work during
2020 and initiatives related to Corporate Governance is also included.
The Annual Report also includes an updated Resources and Reserves
Statement for the Company's mining assets in South Africa and Turkey
following activities over the course of 2020.
Commenting on the Annual Report, Guy Konsbruck, CEO of Afarak, said that
"2020 was another bad year for the complete Ferro-Chrome industry. The
pandemic led to world-wide collapse of demand with low prices. The South
African energy prices made it impossible for Afarak to continue
operations and the decision had to be taken to put Mogale into business
rescue. Our Specialty Alloys segment also had to cope with falling
market prices and reduced demand therefore underperformed, when compared
to previous years. We have widely continued to temporarily stop mining
operations in all mines. Some sites like Stellite and Zeerust continue
to treat tailings, and/or toll-treat for third parties."
A copy of the Annual Report 2020 has been submitted to the UK's National
Afarak will hold its 2021 Annual General Meeting in Helsinki on within
the time stipulated in the Finnish Companies Act.
Helsinki, April 1, 2021
AFARAK GROUP PLC
Board of Directors
For additional information, please contact:
Afarak Group Plc
Guy Konsbruck, CEO, +356 2122 1566,
Financial reports and other investor information are available on the
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
London Stock Exchange
-- AFARAK ANNUAL REPORT 2020
(END) Dow Jones Newswires
April 01, 2021 12:11 ET (16:11 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Historical Stock Chart
From Aug 2021 to Sep 2021
Historical Stock Chart
From Sep 2020 to Sep 2021