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Topic

Difficult conditions in ferro-alloys segment impacts on Afarak’s H1 profitability

By: Simone Liedtke     10th August 2018 The second quarter of 2018, ended June 30, was particularly difficult for specialty alloys producer Afarak, the company said on Friday, with the ferro-alloys segment having shown a bad performance which negatively impacted on the group’s overall financial results. This, Afarak pointed out, was... 

African Sun Mining pursues opportunities at Junior Indaba

By: Donald Makhafola     25th May 2018 Owing to the current high prices of commodities, wholly black-owned, Pretoria-based opencast mining contractor African Sun Mining hopes to liaise with mining companies, which are prepared to start new projects, during this year’s Junior Indaba to be held from June 5 to 6 at the Johannesburg... 

Afarak may re-domicile as it progresses Helsinki delisting plans

By: Simone Liedtke     11th April 2018 Vertically integrated specialty alloys producer Afarak is considering changing its domicile from Finland, as the company continues to advance plans to delist from the Nasdaq Helsinki Stock Exchange, leaving it with a listing on only London’s Aim. In an update regarding its delisting plans, which... 

Afarak secures new-order mining right for Vlakpoort mine

By: Natasha Odendaal     14th March 2018 LSE-listed Afarak has secured a new-order mining right for its Vlakpoort mine, in the western limb of South Africa’s Bushveld complex. The preparatory work on the mine, which has a minimum of 6.6-million tonnes of proven chrome reserves and 330 314 oz of platinum group metals, will start during... 

Afarak shareholders seek board’s dismissal

By: Megan van Wyngaardt     9th November 2017 A group of Afarak shareholders, representing 10.86% of shares and voting rights, has asked to convene an extraordinary meeting of shareholders, where it will seek to dismiss the board, the LSE-listed miner said on Thursday. The meeting would further seek to address a number of issues, including a... 

Afarak Mogale to increase ferrochrome production

By: Anine Kilian     20th April 2017 Aim-listed Afarak’s Mogale operation is now using all its operating furnaces to produce ferrochrome following the successful transition of a second furnace from silicomanganese to ferrochrome.  Prior to December 2016, Mogale only had one furnace dedicated to ferrochrome.  Owing to improved market... 

Afarak upbeat on prospects for 2017 after tough 2016

By: Anine Kilian     17th February 2017 After a difficult trading 2016 financial year, LSE-listed Afarak says it is well-positioned to benefit from an upswing in the market that started in the three months ended December 31. The group on Friday posted earnings before interest, taxes, depreciation and amortisation of €5.5-million for... 

Afarak restarts opencast mining at Limpopo chrome mine

By: Anine Kilian     12th January 2017 Chrome mining and minerals producer Afarak has entered into a mining services agreement with Pholagolwa Mining to undertake opencast mining at its Mecklenburg opencast mine, in Limpopo. The mine initially started production in July 2013, but operations were halted in June 2014 amid community... 

Weak demand, prices eat into Afarak’s Q2 profits

By: Natasha Odendaal     16th August 2016 An extreme weakness in demand and prices for chrome mining and minerals producer Afarak’s products cut the dual-listed firm’s revenue by 25.6% to €39.5-million in the second quarter of this year. Emerging from what Afarak CEO Alistair Ruiters described as one of the most challenging external... 

Afarak lifts Q3 revenue despite narrowed output

By: Natalie Greve     10th November 2014 Chrome producer Afarak has lifted revenue for the third quarter, ended September 30, by 32.1% to €40.6-million, largely on the back of a 131.9% increase in processed materials sold to 26 347 t. However, the Finland-based company, formerly known as Ruukki Group Oyj, posted a 28.3% drop in earnings... 

Energy threat to ferrochrome, Africa mining optimisation, new Zambia copper mine plan

By: Martin Creamer     12th September 2014 Ferrochrome under 'debeneficiation' threat; a formula to improve Africa's mineral resources indusry; merged company plans to advance Zambian copper project.  

Energy constraints biggest threat to SA ferrochrome industry 

By: Leandi Kolver     4th September 2014 The biggest challenge facing South Africa’s ferrochrome industry was no longer China, but local energy supply constraints, chrome producer Afarak executive chairperson Dr Alistair Ruiters said on Wednesday. Speaking at the seventh South African Ferro-Alloys conference, convened by MetalBulletin... 

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