EHS - Evraz Highveld Steel and Vanadium Limited - Third quarter ending

EHS - Evraz Highveld Steel and Vanadium Limited - Third quarter ending          
30 September 2011 operational results                                           
Evraz Highveld Steel and Vanadium Limited                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number:  1960/001900/06)                                          
Share code:  EHS                                                                
ISIN:  ZAE000146171                                                             
("Evraz Highveld")                                                              
THIRD QUARTER ENDING 30 SEPTEMBER 2011 OPERATIONAL RESULTS                      
Following the practice of the holding company, Evraz Group S.A., to release     
quarterly operational information, Evraz Highveld hereby releases its results   
as follows:                                                                     
PRODUCTION VOLUMES                                                              
                  Unit of   3Q 2011    2Q 2011     3Q    3Q 2010     3Q         
                  measure                       2011/             2011/         
2Q                3Q         

                                                2011,             2010,         
                                                    %                 %         
                                               change            change         


Steel segment                                                                   
Hot metal             Tons   115,789    158,317    -27    214,115    -46        
Continuously          Tons   118,500    171,387    -31    212,475    -44        
cast blocks                                                                     
Sections              Tons    40,020     62,448    -36     51,452    -22        
Plates                Tons    44,913     44,517      1     47,420     -5        
Coil                  Tons     9,915     40,861    -76     42,474    -77        
Vanadium slag           Kg 2,862,199  4,043,136    -29  3,706,659    -23        
                 V(2)O(5)                                                       
   Internal            Kg 2,680,201  3,882,670    -31  3,480,288    -23         
consumption       V(2)O(5)                                                      
Fines ore             Tons   186,198    150,925     23    136,656     36        
Vanadium segment                                                                
Ferrovanadium         Kg V 1,792,567  1,415,735     27  1,209,819     48        
Modified              Kg V   304,579    399,507    -24    177,624     71        
Vanadium Oxide                                                                  
Nitrovan              Kg V   319,705    441,356    -28          -    100        
AVERAGE SELLING PRICES                                                          
                  Unit of  3Q 2011  2Q 2011      3Q  3Q 2010      3Q            
measure                     2011/            2011/            

                                                 2Q               3Q            
                                              2011,            2010,            
                                                  %                %            
change           change            

                                                                                
Steel segment                                                                   
Total Steel          $/ton      880      907      -3      786      12           
Vanadium slag         $/Kg        5        5       0        6     -17           
                 V(2)O(5)                                                       
Fines ore            $/ton       32       37     -14       34      -6           
Vanadium segment                                                                
Ferrovanadium       $/Kg V       27       29      -7       27       0           
Modified            $/Kg V        -       21    -100       21    -100           
Vanadium Oxide                                                                  
Nitrovan            $/Kg V       28       28       0        -     100           


Average exchange       R/$     7.13     6.80       5     7.33      -3           
rate                                                                            
    Note:                                                                       
1)   All prices quoted are delivered prices.                                
    2)   Production on hot metal and steel products decreased during Q3         
         mainly due to the maintenance shutdown of the Mills during the         
         months of July and August, the strike action in July and Furnace 7     
which was down for conversion.                                         
    3)   The selling prices decreased due to the weakening of the Rand.         
14 October 2011                                                                 
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Date: 14/10/2011 11:00:01 Supplied by www.sharenet.co.za                     
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