EVRAZ HIGHVELD STEEL & VANADIUM LTD - First Quarter ending 31 March 2013 Operational results

First Quarter ending 31 March 2013 Operational results

EVRAZ Highveld Steel and Vanadium Limited
Registration No. 1960/001900/06
(Incorporated in the Republic of South Africa)
(“the Company”)
Share code: EHS
ISIN code:       ZAE000146171


FIRST QUARTER ENDING 31 MARCH 2013 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

                                                                      1Q 2013/                      1Q 2013/
                      Unit of
                                 Notes      1Q 2013      4Q 2012      4Q 2012,       1Q 2012        1Q 2012,
                     measure
                                                                     % change                      % change

Steel segment
Hot metal              Tons                  174,151     175,699            (1)       196,486            (11)
Continuously cast
blocks                 Tons                  175,397     165,715              6       175,747               0
Sections               Tons                   49,672      51,742            (4)        65,823            (25)
Plates                 Tons         2         44,605      37,045             20        44,685               0
Coil                   Tons                   29,497      34,109           (14)        25,787              14
Vanadium slag        Kg V2O5               2,906,030    2,655,101             9     3,832,071            (24)
   Internal
consumption          Kg V2O5               2,720,086    2,474,466           10      3,832,071            (29)
Fines ore             Tons                   164,220      166,131           (1)       156,931               5
Vanadium
segment
Ferrovanadium          Kg V         3      1,032,043     855,347             21     1,465,359            (30)
Modified
Vanadium Oxide
(MVO)                  Kg V         3        259,422     181,863             43       231,852             12
Nitrovan               Kg V         3        251,639     176,407             43       186,733             35

WEIGHTED AVERAGE SELLING PRICES
                                                                     1Q 2013/                       1Q 2013/
                      Unit of
                                  Notes      1Q 2013     4Q 2012     4Q 2012,        1Q 2012        1Q 2012,
                     measure
                                                                    % change                       % change


Steel segment
Total Steel            $/ton                     762         727             5               849        (10)
Vanadium slag       $/Kg V2O5                      6            4           34                -           -
Fines ore             $/ton                       44           22           98               19         132
Vanadium
segment
Ferrovanadium         $/Kg V                      29           23           26               23          26
Modified
Vanadium Oxide        $/Kg V                       -            -            -               17        (100)
Nitrovan              $/Kg V                      30           24           24               24           24

Average
exchange rate           R/$                      8.95        8.69            3           7.76            15

 Notes:
 1.    All prices quoted are delivered prices.
       The below comments explain material variances between Q1 2013 and Q4 2012:
 2.     Increased demand for plate and favourable margins resulted in increased plate
        production.
 3.     Increased vanadium production in slag resulting in increased vanadium production of
        Ferrovanadium, Modified Vanadium Oxide and Nitrovan.


12 April 2013


Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

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