Low prices, demand results in drop in Afarak’s mining, processing volumes
LSE- and Nasdaq-listed Afarak Group has reported that its group production for the third quarter of the year at 40 766 t was 60.1% lower than the 102 219 t produced in the third quarter of 2019.
This was owing to reduced mining activity in South Africa, the protection of staff amid Covid-19, low market prices and poor demand, as well as lower volumes from the company’s Turkish mines.
Particularly, slow demand for low-carbon ferrochrome resulted in lower production at the company’s EWW plant, in Germany, as well as increased shutdown periods to manage stock levels.
The company produced 1 359 t of speciality alloys, while it produced 547 t of ferroalloys.
Afarak’s processing volumes decreased in both segments by 79.2% year-on-year during the third quarter of the year, while mining activity decreased by 58.2%, for both these segments, year-on-year.
Afarak operates the Stellite and Mecklenburg mines in South Africa, as well as the Mogale processing plant.
In Turkey, it operates the Kavak and Tavash mines, while it has the EWW processing plant in Germany.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation