RANA: Rana Gruber enters iron ore swap contracts
Rana Gruber ASA has entered into Iron Ore 62% Fe, CFR China (TSI) swap
Rana Gruber ASA has agreed to sell a total of 120.000mt in H1-24 (20.000 mt per
month) at an average price of 110.65 USD/mt.
The swap contracts relate to physical shipments in Q4-23 and Q1-24.
Final financial settlement of these shipments will be connected with the swap
Total volume of iron ore swap contracts after today is:
September 2023: 40.000mt (avg. 122.07 USD/mt)
Q4-23: 240.000mt (avg. 116.03 USD/mt)
Q1-24: 180.000mt (avg. 116.59 USD/mt)
Q2-24: 60.000mt (avg. 110.65 USD/mt)
CEO, Gunnar Moe
+47 941 47 650
CFO, Erlend Høyen
+47 902 02 741
About Rana Gruber ASA
Rana Gruber is a Norwegian iron ore producer established in 1964, with
operations based on more than 200 years of mining experience. The company's
products are based on natural mineral resources, which are processed and
exported to customers worldwide. Key customers include steel producers and
participants in the chemical industry. The company has about 300 employees and a
production capacity of 1.8 million metric tons of iron ore concentrates.