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AFARAK GROUP: PRODUCTION REPORT Q3 2021

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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

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

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