Afarak Group — Regulatory Filings 2017

Apr 20, 2017

AFARAK GROUP INCREASES ITS PRODUCTION OF FERROCHROME

AFARAK GROUP INCREASES ITS PRODUCTION OF FERROCHROME

07:00 London, 09:00 Helsinki, 20 April 2017 - Afarak Group Plc ("Afarak" or
"the Company")

          AFARAK GROUP INCREASES ITS PRODUCTION OF FERROCHROME

Afarak Mogale successfully completes transition of second silicomanganese
furnace to ferrochrome.

                Open-cast mining resumes at Mecklenburg.

Afarak Mogale is currently utilising 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.
As a response to improved market conditions, Afarak Group successfully converted
two of its furnaces from producing silicomanganese to ferrochrome; the first in
December 2016 and the second in April 2017.

It is expected that the new furnace will be producing an additional 2,300 tons
per month.  In addition, open-cast mining at Mecklenburg has resumed and
preparations are underway for underground mining with the potential of accessing
20 million tons of chrome reserves.  These initiatives will further increase
Afarak' vertical-integration and make it more independent from third party
suppliers of ore.

Guy Konsbruck

CEO

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