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EVRAZ Highveld Steel and Vanadium Limited
(Incorporated in the Republic of South Africa)
(Registration No: 1960/001900/06)
Share code: EHS
ISIN: ZAE000146171
(the Company or the Group)
SECOND QUARTER ENDING 30 JUNE 2012 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
Unit of Notes 2Q 2012 1Q 2012 2Q 2Q 2011 2Q
measure 2012/ 2012/
1Q 2Q
2012, 2011,
% %
change change
Steel segment
Hot metal Tons 2 163,413 196,486 (17) 158,317 3
Continuously cast blocks Tons 2 152,819 175,747 (13) 171,387 (11)
Sections Tons 55,291 65,823 (16) 62,448 (11)
Plates Tons 3 34,957 44,685 (22) 44,517 (21)
Coil Tons 4 31,422 25,787 22 40,861 (23)
Vanadium slag Kg 5 2,963,016 3,832,071 (23) 4,043,136 (27)
V(2)O(5)
Internal consumption Kg 2,891,786 3,832,071 (25) 3,882,670 (26)
V(2)O(5)
Fines ore Tons 6 131,790 156,931 (16) 150,925 (13)
Vanadium segment
Ferrovanadium Kg V 7 1,318,454 1,465,359 (10) 1,415,735 (7)
Modified Vanadium Oxide Kg V 8 351,760 231,852 52 399,507 (12)
(MVO)
Nitrovan Kg V 8 150,089 186,733 (20) 441,356 (66)
WEIGHTED AVERAGE SELLING PRICES
Unit of Notes 2Q 2012 1Q 2012 2Q 2Q 2011 2Q
measure 2012/ 2012/
1Q 2Q
2012, 2011,
% %
change change
Steel segment
Total steel $/ton 734 849 (14) 907 (19)
Vanadium slag $/Kg V(2)O(5) 4 - 100 5 (20)
Fines ore $/ton 22 19 16 37 (41)
Vanadium segment
Ferrovanadium $/Kg V 24 23 4 29 (17)
Modified Vanadium Oxide $/Kg V 18 17 6 21 (14)
Nitrovan $/Kg V 24 24 0 28 (14)
Average exchange rate R/$ 8.13 7.76 5 6.80 20
Notes:
1) All prices quoted are delivered prices.
The below comments explain material variances between 1Q 2012 and 2Q 2012:
2) Lower production volumes were due to the business stabilisation project, whereby hot metal
volumes are reduced to focus mainly on the domestic market; to reduce unprofitable exports and to
reduce fixed cost.
3) The reduction in plate production volumes were mainly due to the weakening export market for
heavy plate.
4) The increase in coil production was mainly due to increase in local market demand.
5) In addition to note 2 above, the reduced vanadium slag production was further negatively
impacted by lower vanadium yields.
6) Reduced fines ore production mainly due to operational stoppages.
7) Lower vanadium slag availability negatively affected vanadium production on average.
8) Increased MVO production due to the completion of the maintenance work conducted during 1Q
2012. The lower nitrovan production is due to MVO being sold for the production of ferrovanadium.
13 July 2012
Sponsor:
J.P. Morgan Equities Limited
Date: 13/07/2012 01:00:00 Supplied by www.sharenet.co.za
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