Afarak Group PLC (LON:AFRK) said that overall production of specialty alloys and ferroalloys during the third quarter of 2020 dropped by 60.1% when compared to the same quarter of the prior year.
Specialty alloys production dropped by 31% to 17,411 tonnes, while ferroalloys production dropped by nearly 70% to 23,325 tonnes, it added.
Reduced mining activity in the South African mines resulted in significant lower mining volumes as the company focused on protection of staff during the coronavirus pandemic.
The pandemic had a negative impact on the speciality market and, as a result, its EWW plant had to increase the shutdown periods to manage stock levels.