Afarak Group: Production report Q1 2024
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.
| Q1/2024 | Q1/2023 | Change | FY 2023 | ||||
| Speciality Alloys | mt | 23,411 | 24,359 | -3.9% | 86,834 | ||
| Processing | mt | 6,901 | 7,581 | -9.0% | 21,179 | ||
| Mining | mt | 16,510 | 16,778 | -1.6% | 65,655 | ||
| South African mines | mt | 70,278 | 61,045 | 15.1% | 270,946 | ||
| Mining | mt | 70,278 | 61,045 | 15.1% | 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).
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