AFRK Afarak Group Se

 
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: 
https://www.globenewswire.com/Tracker?data=1DKTTSVltoZ53jPkx-FdhHmdFq__D3iks1GvYNqwYRd3PzCktouFTLMzieb4WgULhlQXnyvoiqk2belbGfOvnz_iehS9wtYzG1rJS9Hka8mXGlLoCl0979AH7xO9jJuUBC8Diu_aroWyPHDwKGanpn7Rt9uNVZ91Gf_8WiAT7o3bZd9DX_F6S7-kt6K_pYRrHYGLs4n7cctEWIq8JUCcqZEY8gxA3FmG9W9wQcnafBI= 
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 
 
   https://www.globenewswire.com/Tracker?data=1DKTTSVltoZ53jPkx-FdhGYvYhQD7jDBdsf1HvoY8Dfk8dlRNAKCeg31SI1Td8RKezthwoWaDVYt8mQkbfQ1xqeywN1GuwCnegjbJPQ7XfH7NbckZJEIkS0sG3pgF6nbE3M3GcMeeuxky6ugAlztKMMPfiSv3t2C5Bk5xKTiK0_eNNFGy0u44nwzmAycGrYGXgO6Oaf8AThqgsv_GUeiH8Jo_z43h14H4lxsufsaLn0= 
www.afarak.com 
 
   Attachment 
 
 
   -- Afarak_Production report_2021_Q1_EN 
      https://ml-eu.globenewswire.com/Resource/Download/59cf976e-aa63-4f60-ab31-901c7cc8ea85 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

April 29, 2021 03:14 ET (07:14 GMT)

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