Afarak Group Plc (GB:AFRK) has released an update.
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Afarak Group Plc reported a rise in overall production for Q3 2024, primarily driven by an increase in mining activity despite stable chrome ore prices. However, the demand and prices in the ferrochrome market remained weak, with no signs of recovery, while stainless steel market activity was low. The company’s South African mining operations saw significant growth, compensating for a decline in Turkey, amid global economic challenges affecting export-dependent European economies.
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