EVRAZ HIGHVELD STEEL & VANADIUM LTD - Second Quarter Ending 30 June 2013 Operational Results

Second Quarter Ending 30 June 2013 Operational Results

EVRAZ Highveld Steel and Vanadium Limited
Registration number: 1960/001900/06
(Incorporated in the Republic of South Africa)
Share code: EHS
ISIN ZAE000146171
(“the Company”)


SECOND QUARTER ENDING 30 JUNE 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

                                                                    2Q 2013/                     2Q 2013/
                      Unit of                                       1Q 2013,                     2Q 2012,
                                  Notes     2Q 2013      1Q 2013                  2Q 2012
                     measure                                              %                            %
                                                                     change                       change

 Steel segment
 Hot metal               Tons          2     158,435      174,151          (9)     163,413            (3)
 Continuously cast
 blocks                  Tons                159,163      175,397          (9)     152,819              4
 Sections                Tons                 47,208       49,672          (5)      55,291           (15)
 Plates                  Tons                 48,686       44,605            9      34,957             39
 Coil                    Tons          3      38,730       29,497          31       31,422             23
 Vanadium slag           Kg V          4   1,910,621    1,627,958          17    1,659,882            15
 Fines ore               Tons                188,463      164,220          15      131,790            43
 Vanadium
 segment
 Ferrovanadium           Kg V          5   1,296,676    1,032,043          26    1,318,454            (2)
 Modified
 Vanadium Oxide
 (MVO)                   Kg V                284,345      259,422           10     351,760           (19)
 Nitrovan                Kg V          6     134,509      251,639         (47)     150,089           (10)


WEIGHTED AVERAGE SELLING PRICES

                                                                    2Q 2013/                     2Q 2013/
                       Unit of                                      1Q 2013,                     2Q 2012,
                                  Notes     2Q 2013      1Q 2013                  2Q 2012
                      measure                                             %                            %
                                                                     change                       change

 Steel segment
 Total Steel              $/ton                  752          762          (1)         734             2
 Vanadium slag          $/Kg V                    10           10          (4)           7            40
 Fines ore                $/ton                   32           44         (27)          22            46
 Vanadium
 segment
 Ferrovanadium          $/Kg V                    27           29          (6)          24            13
 Modified
 Vanadium Oxide         $/Kg V                    20            -            0          18            11
 Nitrovan               $/Kg V                    29           30          (3)          24            21
 Average
 exchange rate                R/$               9.49          8.95           6         8.13           17


Notes:

1) All prices quoted are delivered prices.

The below comments explain material variances between Q2 2013 and Q1 2013:
2) Lower hot metal production as a result of strict load shedding during peak Eskom tariff windows (in
June).
3) Increased production due to a higher demand for coil.
4) Improved V-slag output following plant maintenance and reduction of unprocessed stock.
5) Higher slag availability resulted in higher ferrovanadium production.
6) Excess MVO converted to FeV resulting in decreased Nitrovan production.

12 July 2013


Sponsor:
J.P. Morgan Equities South Africa (Pty) Ltd

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