Afarak Group Plc Afarak Group Plc'spublishes Financial Statements And Annual Report For 1 January -31 December 2020

 
TIDMAFAGR 
 
 
   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 
website 
https://www.globenewswire.com/Tracker?data=K_do0bkVGZQqkgtKn3GCR6ftiSFpGGz90wROZsnQmGqAcpqMsZigbfBC1MDKinWDno-lATkjo1VrZ7ZYHvKRZA== 
www.afarak.com. 
 
   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 
Storage Mechanism. 
 
   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, [phone], 
https://www.globenewswire.com/Tracker?data=n_Xb4QvPmNVi6qd9TlJzxYKBmIy-0R7kGexxY5ijPqoPzC2e2d3NcwMGbmB-c_CTlaFUS11bAevcjmPu3DQCMOec_-4mnvETWhcZg1VVO4JgcYZqd7aIDorzfSR3aOZm 
[e-mail] 
 
 
 
 
 
   Financial reports and other investor information are available on the 
Company's website: 
https://www.globenewswire.com/Tracker?data=K_do0bkVGZQqkgtKn3GCRxQZhE0Qu2SanGwtl5LjPuSQY-8SRGL8_OffM1atLO472E4nos1etdZWqM0jzeuLIg== 
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=K_do0bkVGZQqkgtKn3GCRw0oPALY8O4agLuhGJJ82ncSUEERgi9ANzVjS1_UWkKRjah3IhqyqXijHoU-6dfRfg== 
www.afarak.com 
 
   Attachment 
 
 
   -- AFARAK ANNUAL REPORT 2020 
      https://ml-eu.globenewswire.com/Resource/Download/5f8e45df-c7af-4709-a626-81eef60135ec 
 
 
 
 
 
 
 

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April 01, 2021 12:11 ET (16:11 GMT)

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