TIDMAFAGR

13:00 London, 15:00 Helsinki, 29 October 2021 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

Production report Q3 2021

Afarak's speciality segment output shows net signs of improvement. The overall Afarak Group production during the third quarter of 2021 was lower compared to same quarter of prior year, mainly due to the divestment of major South African assets.

 
 
                                     Q3/2021  Q3/2020  Change  FY 2020 
 
 Group production               mt    31,568   43,121  -26.8%  214,775 
 Mining                         mt    26,273   41,762  -37.1%  184,779 
 Processing                     mt     5,295    1,359  289.6%   29,997 
 Speciality Alloys production   mt    23,716   17,440   36.0%   89,715 
 Mining                         mt    18,421   16,081   14.5%   73,306 
 Processing                     mt     5,295    1,359  289.6%   16,409 
 FerroAlloys production         mt     7,852   25,681  -69.4%  125,060 
 Mining                         mt     7,852   25,681  -69.4%  111,472 
 Processing                     mt         0        0    0.0%   13,588

Mining

   -- The Turkish mines continued to increase their mining activity during the 
      third quarter of 2021 by 14.5%, when compared to last year. 
 
   -- The mining activity at the South African mines were clearly reduced due 
      to the divestments of major assets within these mines.

Processing

   -- The improved market conditions as well as higher demand, resulted in a 
      significant increase in production volumes at EWW processing plant in 
      Germany during the third quarter of 2021.

Helsinki, October 29, 2021

AFARAK GROUP PLC

Board of Directors

For additional information, please contact:

Afarak Group Plc

Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com https://www.globenewswire.com/Tracker?data=nlZACSHC3TnR0zSoHHBp3UAOY4mkgpStgDGfCXAOt20Bmzn28Z--biXbG9Su1BUS_NqApFyFOaxrbt4VmtYYjBTybIcv1gxM5LnCz2Q0r_RVRkmp1Djz9qmGVwcEE4Yx5PNGzS7l1Jcq50e7_Xwmy0t2PDRozfJg_hfs4e1hPEgpb79OBMKB7e9q6Om5HKpUACkcz1Tm7wZLwtmKvGjvSyrioNoO-Uce8auNXGpHxIFDEL24jkcPAFvuDvtgvNs_Dwy5kX51db9djzH_I-2y_oCs_1bRzAc6FkNrQQJxSpI=

Financial reports and other investor information are available on the Company's website: 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

www.afarak.com

Attachment

   -- Afarak_Production report_2021_Q3_EN 
      https://ml-eu.globenewswire.com/Resource/Download/36ac45db-44ef-483c-85aa-23a283a6aaef

(END) Dow Jones Newswires

October 29, 2021 08:10 ET (12:10 GMT)

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