Company
Afarak Group PLC
LON:AFRK
Afarak Group PLC is a global vertically-integrated producer of speciality alloys with operations in South Africa, Turkey, Germany, London, Helsinki and Malta. Recognised as a critical metal producer, Afarak supplies world leading companies in a broad range of industries across the globe.
95 stories
Afarak confident it can ride out challenging ferrochrome markets
"We are confident about remaining profitable due to being the top-quality low-carbon ferrochrome producer in the global market"
Afarak welcomes signs of ferrochrome market improvement
"The raw materials and stainless steel markets are seeing a general positive trend finally"
Afarak agrees sale of Stellite chrome mine for €23mln
The total purchase price is to be paid in 3 portions
Afarak Group production report confirms impact of low demand during pandemic
Volumes were down in both the mining and processing businesses amid weakened demand during the ongoing pandemic.
Afarak Group updates on refinancing
As the calendar moved into a new quarter the company had a number of stock market announcements.
Afarak Group's revenue and profits continue to rise
Afarak is a ferrochrome producer with an international spread of assets
Afarak Group hopes Covid-19 vaccines will spark recovery in steel market
“Except for China, the pandemic has had a strong grip on all economies, which kept the stainless steel market in a very subdued status"
Afarak to appeal against Helsinki Administrative Court decision
The company will update the market in due course about the next steps in the process.
Afarak says quarterly production drops as result of coronavirus pandemic
Afarak Group has assets in South Africa, Turkey and Germany
Afarak losses narrow in the first as recovery continues, albeit slower than before coronavirus
"We have still managed to show good signs of recovery when compared to H1 2019," chief executive Guy Konsbruck said
Afarak places South African operations into business rescue process
The company cited the global economic slow-down resulting from the coronavirus crisis as the cause
Afarak's South African operations largely unaffected by the coronavirus epidemic
South African authorities gave approval for some mining activity to continue at the Stellite mine under strict health guidelines
Afarak publishes annual report, amidst temporary mine closures and weak pricing environment
Afarak's specialty division has been performing strongly
Afarak Group to put mines on ‘care and maintenance’ as South Africa prepares for coronavirus lockdown
South Africa's lockdown begins on Thursday, at midnight
Afarak awaits "swift" South African reaction to reinvigorate chrome industry
“The main priorities for Afarak in 2020 are stability and consistency of operational and financial performance,” says CEO Guy Konsbruck
Afarak sees “solid” long-term market prospects despite losses
Management said the company delivered a “good performance given the market circumstances” as it focuses on cost reduction and cash preservation
Afarak studying Finnish regulator’s imposition of €1.45mln fine
The decision of the Finnish regulator is not yet legally binding
Afarak takes action to address challenges at Mogale smelter
Afarak said it continues to "work hard to turn around the operational performance of the Mogale smelter and will keep its future viability under review".
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News from FirstGroup, Stagecoach to drive corporate diary in coming week
Aside from the two mid-cap transport operators, blue chip contractor Bunzl will also issue a trading update, while the macro focus will be on the G20 meeting in Japan
Afarak tries to distance itself from row between major shareholder and Finnish authorities
Danko Koncar, a major shareholder of Afarak and former chief executive of the company, has been fined for refusing to launch a takeover bid for the firm
Afarak insists plans to scale back Mogale output won't affect buy-back or financing
Afarak said it expects the temporary shut-down to keep losses from Mogale operations “contained”.
Afarak to scale back production at Mogale operations amid challenging headwinds
“As we have previously indicated, it has proven challenging to mitigate the headwinds that our operations at Mogale have faced for some time,” said chief executive Guy Konsbruck.
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Afarak expresses relief as special audit of accounts better than feared
Afarak said the audit will not cause the company "significant cost burdens"
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Afarak secures funding with combination of an chrome ore off-take agreement, several financing deals
Under the off-take agreement, the group said it will deliver goods from its South African mines from July 2019 to July 2023 and against these deliveries will receive prepayment
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Netcall among Wednesday’s strugglers as its by NHS purchasing delays
Here's Wednesday's look at the major stock market movers
Afarak Group to issue new shares to increase interests in South Africa assets
Through relatively modest transactions Afarak is increasing its ownership interests.
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Cellcast downcast as Kenya ups the ante in attack on the gambling industry
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Afarak Group proposes to become a ‘European company’
The proposal aims to give the company more flexibility and it could also see benefits from legislation.
Investments and investor services
FTSE 100 closes higher as trade tensions ease
The UK's premier shares index closed up around ten points at 7,320
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Severn Trent to kick off water sector updates on Tuesday; retailers also in focus
The Day Ahead will bring trading updates from the likes of stores groups Halfords, Topps Tiles, and WH Smith
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Still no opportunities to sell in May, with Royal Mail and M&S set to deliver updates
The Week Ahead will also bring news from power firm SSE and water groups Severn Trent and United Utilities, plus the latest UK inflation and retail sales numbers
Afarak first quarter impacted by weaker chrome market
The company is expecting an improved performance in the second quarter.
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Will Easyjet keep to its guidance in Friday’s first-half results?
The airline shocked the market last month, so investors will be looking for some reassurance in the interim report
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Toople topples as investors sell the half-year news
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Afarak issues profit warning for first quarter of 2019
Lower ferrochrome prices due to weaker stainless steel demand from China meant the firm expected its first quarter to be “below market expectations”
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FTSE 100 closes higher as Trump trade fears ease
The mid-cap FTSE 250 was also a shade higher - adding around two points at 19,369
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Burberry, Kingfisher, Thomas Cook and Aston Martin in focus in week ahead
The week ahead's highlights include updates from Burberry, Land Securities, British Land, Premier Foods, Experian, Kingfisher, Aston Martin, Dignity, Centrica, Thomas Cook, On the Beach and Countryside Properties.
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Andalas subsides after finance director resigns
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Afarak Group takes full control of its mining operations
The transaction will give rise to a significant accounting gain due to a revaluation of the 51% stake in Synergy Africa
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Versarien boosted by completion of Graphene Council's "Verified Graphene Producer" programme
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Afarak Group regroups after challenges of 2018
Low ferrochrome prices and problems in South Africa affected 2018
Chrome producer Afarak mulls Helsinki de-listing
“The board still concludes, as was the case in spring 2018, that in the long run it is not economically viable for the company and its shareholders to have a company domiciled in Finland and listed in Helsinki and London”
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Afarak Group updates investors as Helsinki court rules on shareholder case
A Finnish court has made a ruling in relation to a prior decision made by the Financial Services Authority.
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Afarak boss Guy Konsbruck says management is responding to South Africa business challenges
“The Mogale plant is today under a new management team which is tasked with improving operations and cutting costs"
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FTSE 100 closes higher on trade talk optimism; miners big winners
President Trump is due to sit down for talks with Chinese Vice Premier Liu He at around 7.30pm UK time
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Pearson’s US higher education division set to continue recent struggles
Pearson’s US higher education business has been struggling for a while now with declining textbook sales and the transition to digital learning
Mobile Tornado shares blown higher on back of solid trading update
Some of the major news-driven risers and fallers on Wednesday …
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Afarak to write-down Mogale as ferrochrome market remains subdued
A new management team has been installed at Mogale with the emphasis on improving operations and cutting costs
FTSE 100 closes higher as markets more optimistic on US, China trade
BIg banking group Lloyds was among the top gainers on Footsie
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Banking results to flow faster, with Barclays, Lloyds, and HSBC all set to report 2018 numbers
Aside from the banking results, the week ahead will bring updates from other blue-chips firms such as BAE Systems, Anglo American, Pearson, and Reckitt Benckiser
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Genel ticks up on Taq Taq reserves update
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FTSE 100 closes marginally higher but consumer and industrial shares down
May said should no revised deal be ready for a vote by 27 February, a further amendable motion would be tabled
Afarak names Melvin Grima, its Malta-based finance director, as its new chief financial officer
The London main market-listed specialist alloy producer said Grima replaces Pedrag Kovacevic who left the company on 10 January by mutual agreement
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Afarak boss pleased with performance of speciality alloys division so far this year
Revenues at that unit are up more than 11% so far this year, but Afarak struggled overall in the third quarter, which is always a tricky period for the sector
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FTSE 100 closes Friday in the red after tumultuous week for UK politics
The UK's premier share index lost around 24 points at 7,013 on the day - and was down 1.29% on the week.
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Kier Group update and Brexit fallout to star on Friday
It looks like Friday will be a quiet one in terms of company news, but the City will have plenty to get its teeth into, with Theresa May’s position looking increasingly fragile
Chrome producer Afarak to offer €1.015 a share to buy investors out
Investors had argued for some time that because of liquidity constraints, the company should offer to buy out its shareholders
Chrome producer Afarak bows to shareholder pressure
Afarak has now said it will honour the result of a shareholder vote which could see it forced to buy back shares from investors
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Housebuilders to take centre stage again after Persimmon boss drama
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Metals Exploration shares under pressure; Ascential rises on Flywheel Digital buyout
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Afarak shareholder clarifies position on takeover proposal to be tabled at EGM
Afarak has an attractive portfolio of speciality metals assets
FTSE 100 closes lower as sterling gains on BoE rate comments
The bank suggested there could be a faster pace of hikes if the UK gets a smooth Brexit deal
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Cold weather in Nevada means Great Western Mining may have to suspend drilling until March
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Afarak gets green light at the Zeerust chrome mine
The long-term outlook for chrome is favourable. Demand continues to be driven by Chinese economic growth, while supply is limited to a handful of geographic locations
FTSE 100 closes off lows but shoulders drop as US stocks plunge with tech disappointments
At the close, the UK blue-chip index was down 64.54 points, or 0.9% at 6,939.56, albeit bouncing off the hefty session low of 6,851.59 having spent all day heavily in the red
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Afarak Group to consider request to implement a tender offer to shareholders
Substantial shareholders LNS has proposed what it calls a "takeover offer" in accordance with the Finnish Securities Markets Act whereby Afarak effectively offers to buy-out its own shareholders
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Afarak boasts an attractive suite of chrome and speciality alloys assets in South Africa and Germany
Afarak has some of the lowest cost chrome projects in South Africa, and a niche speciality alloys business in Germany
Investments and investor services
FTSE 100 set to end the week in volatility as metal tariffs hit Turkish lira
The quarterly update on the health of the UK economy showed something of a recovery from the snowed under first quarter.