Afarak's FY2022 ferrochrome production up 170% year-on-year

According to Hainan West Asia Group’s understanding. Afarak's FY2022 ferrochrome production up 170% year-on-year.South African ferrochrome producer Afarak has released its financial statements for 2022. Afarak's ferroalloy production sector consists mainly of “TMS” in Türkiye and “EWW” in Germany. “TMS” is mainly responsible for beneficiation and mining of chromium ore, and provides high-grade chromium ore to “EWW”. The production report shows that the total annual production of special alloys mined by enterprises in the fiscal year 2022 is 87700 tons, a decrease of 12.13% compared to the same period in 2021, which was 99800 tons. The main reason is the decrease in mining activities of "TMS" in the second half of 2022 and the shutdown of “EWW” factory due to long-term planned maintenance in the third quarter.

The surge in production was supported by the resumption of open-pit mining at the Mecklenburg mine, increased production at the South African mine, and strong support from the international chromium market environment. In 2022, Afarak mined 132,400 tons, an increase of 28.5% compared to 103,000 tons in 2021. Among them, although the production of the special alloys sector in the Turkish mine has decreased, the mining efforts in the main South African mine continue to strengthen in the second half of 2022.

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