Afarak Group Plc Afarak Group Increases Its Production Of Ferrochrome

 
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)

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