Sharenet Sites 
Sharenet Sites
Second Quarter Ending 30 June 2015 Operational Results
Evraz Highveld Steel and Vanadium Limited
(Incorporated in the Republic of South Africa)
Registration No: 1960/001900/06)
Share code: EHS ISIN: ZAE000146171
(“Highveld” or the “Company”)
Second Quarter Ending 30 June 2015 Operational Results
Following the practice of the holding company, EVRAZ plc, to release quarterly operational information,
EVRAZ Highveld Steel and Vanadium Limited hereby releases its results as follows:
PRODUCTION VOLUMES
2Q
2015/ 2Q 2015/
Unit of
Notes 2Q 2015 1Q 2015 1Q 2Q 2014 2Q 2014,
measure
2015, % % change
change
Steel segment
Hot metal Tons 1 119 027 150 518 (21) 191 418 (38)
Continuously cast
blocks Tons 2 120 771 149 236 (19) 169 574 (29)
Sections Tons 3 40 878 53 595 (24) 52 946 (23)
Plates Tons 36 977 35 769 3 42 712 (13)
Coil Tons 4 7 992 29 390 (73) 35 450 (77)
Vanadium slag Kg V 5 1 466 225 1 788 307 (18) 1 895 959 (23)
Fines ore Tons 6 100 647 150 671 (33) 195 495 (49)
Vanadium segment
Ferrovanadium Kg V 5 1 269 617 1 492 438 (15) 1 142 005 11
WEIGHTED AVERAGE SELLING PRICES
2Q 2015/ 2Q 2015/
Unit of 1Q 20
Notes 2Q 2015 1Q 2015, 2Q 2014 2Q 2014,
measure 15
% change % change
Steel segment
Total Steel R/ton 7 7 686 (23) 7 170 (17)
Vanadium slag R/Kg V 67 62 7 84 (20)
Fines ore R/ton 7 267 370 (28) 260 3
Vanadium segment
Ferrovanadium R/Kg V 8 239 258 (8) 269 (11)
Average exchange
rate R/$ 12.09 11.73 3 10.54 15
Notes:
All prices quoted are delivered prices.
The below comments explain material variances between Q2 2015 and Q1 2015:
General: The domestic market remains under pressure as a result of poor demand further exacerbated
by a surge of low priced imports from China.
1. Liquid iron production was reduced as a result of poor domestic demand as well as cash constraints
2. Steel production decreased proportionally to liquid iron production.
3. The sections mill was negatively impacted by rolling low volumes of different profiles which
contributed to low
utilization rates and lower output.
4. Flat product production volumes were lower in Q2 due to a lack of orders.
5. Vanadium Slag & FeV production reduced as a result of curtailed hot metal production.
6. Fines ore production decreased due to temporary mine stoppage after the announcement of the
business
rescue process.
7. Steel pricing was reduced significantly due to unprecedentedly low domestic demand and high
volumes of
low-priced imports.
8. Prices for Vanadium slag & Fines ore decreased due to lower demand and excess supply.
17 July 2015
Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd.
Date: 17/07/2015 02:53:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
