Skip to main content

Afarak Group: Production report Q1 2024

Written by Customer Service on . Posted in Public Companies.

15:30 London, 17:30 Helsinki, May 06 2024 – Afarak Group SE (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)

Production report Q1 2024

Afarak Group production during the first quarter of 2024 was higher by 9.7% when compared to same period of last year.

        
   Q1/2024Q1/2023ChangeFY 2023 
        
 Speciality Alloys mt23,41124,359-3.9%86,834 
 Processingmt6,9017,581-9.0%21,179 
 Miningmt16,51016,778-1.6%65,655 
 South African minesmt70,27861,045          15.1%270,946 
 Miningmt70,27861,04515.1%270,946 
        

Processing

  • The processing volumes decreased by 9.0% during the first quarter of 2024 when compared to the first quarter of 2023. This was due to a maintenance which had to be carried out due to a minor technical issue.

Mining

  • The overall mining activity increased significantly when compared to same period of last year mainly due to an increase in the tonnes mined in South Africa. The output increased in South Africa due to the continued favourable prices in the Ore market.
  • Mining activity at the Turkish mines remained constant with the levels observed during the corresponding period of 2023, with a marginal decrease of 1.6%.

Helsinki, May 06, 2024

AFARAK GROUP SE

Board of Directors

For additional information, please contact:

Afarak Group SE

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

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.