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Wednesday, 14 March 2018


Afarak Group    

Published: 08:00 CET 14-03-2018 /GlobeNewswire /Source: Afarak Group / : AFRK /ISIN: FI0009800098


07:00 London, 09:00 Helsinki, 14 March 2018 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)




Vlakpoort mining right granted

Mine has a minimum of 6.6 million tonnes of proven chrome reserves

Preparatory work to start in quarter two

Production of 20,000 tonnes per month envisaged from quarter three



Afarak Group announces that its application for a new order mining right on its Vlakpoort site has been granted in terms of Section 23(1) of the Mineral and Petroleum Resources Development Act, 2002 (Act 28 of 2002) as amended by Mineral and Petroleum Resources Development Amended Act, 2008 (Act 49 of 2008 by the Department of Mineral Resources (DMR) in South Africa.


The Vlakpoort Mine is situated on the Northern part of the western limb of the Bushveld complex in South Africa. The surface right was acquired in 2011 after the prospecting right was granted to Destiny Springs Investments 11 a subsidiary of Afarak by the DMR.  Since then, extensive exploration work was conducted which included geological drilling, trenching and bulk sampling of the LG5 and LG 6 seams. The property has a minimum proven resource of 6.656m tons of chrome and 330,314 ounces of PGMs. This includes the underground potential. The resource consists of the LG1-6, MG1-4 and the UG1- 2 and Merensky reefs.


Guy Konsbruck, CEO of Afarak Group, said, "Afarak continues on its path to further extend its mining capacity in South Africa. Works are expected to commence towards the beginning of quarter two and mining is expected to ramp up to a steady state of around 20,000 tonnes in quarter three. The availability of Vlakpoort ore will further consolidate Mogale's position as a quality ferrochrome smelter in South Africa."


Guy Konsbruck



For additional information, please contact:


Afarak Group Plc


Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com

Jean Paul Fabri, +356 9940 8746, jp.fabri@afarak.com


Financial reports and other investor information are available on the Company's

website: www.afarak.com.


Afarak Group is a specialist alloy producer focused on delivering sustainable

Growth with a Speciality Alloys business in southern Europe and a FerroAlloys

business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and

the Main Market of the London Stock Exchange (AFRK).



NASDAQ Helsinki

London Stock Exchange

Main media







This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Afarak Group, 30 Stratford Road Kensington, London W8 6QD, UK
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