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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.

        
   Q3/2021Q3/2020ChangeFY 2020 
        
 Group productionmt31,56843,121-26.8%214,775 
 Miningmt26,27341,762-37.1%184,779 
 Processingmt5,2951,359289.6%29,997 
 Speciality Alloys productionmt23,71617,44036.0%89,715 
 Miningmt18,42116,08114.5%73,306 
 Processingmt5,2951,359289.6%16,409 
 FerroAlloys productionmt7,85225,681-69.4%125,060 
 Miningmt7,85225,681-69.4%111,472 
 Processingmt000.0%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, [email protected]

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 is a global vertically-integrated producer of speciality alloys with operations in South Africa, Turkey, Germany, London, Helsinki and Malta. Recognised as a critical metal producer, Afarak supplies world leading companies in a broad range of industries across the globe. Afarak is listed on the NASDAQ OMX Helsinki Stock Exchange and the London Stock Exchange.