AFARAK GROUP: PRODUCTION REPORT Q3 2021

    AFARAK GROUP: PRODUCTION REPORT Q3 2021 

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, [phone], [e-mail]

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 HelsinkiLondon Stock ExchangeMain media

www.afarak.com

Attachment

• Afarak_Production report_2021_Q3_EN