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EVRAZ HIGHVELD STEEL & VANADIUM LTD - Third Quarter ending 30 September 2014 Operational Results

Release Date: 15/10/2014 16:30
Code(s): EHS     PDF:  
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Third Quarter ending 30 September 2014 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”)

Third Quarter ending 30 September 2014 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

                                                                     3Q 2014/                    3Q 2014/
                      Unit of                                        2Q 2014,                    3Q 2013,
                                  Notes     3Q 2014      2Q 2014                  3Q 2013
                     measure                                               %                           %
                                                                      change                      change

 Steel segment
 Hot metal               Tons          1     154,049      191,418         (20)     145,123             6
 Continuously cast
 blocks                  Tons          1     141,486      169,574         (17)     144,147            (2)
 Sections                Tons                 54,945       52,946            4      55,233            (1)
 Plates                  Tons          2      19,864       42,712         (53)      41,779           (52)
 Coil                    Tons          2      25,182       35,450         (29)      29,785           (15)
 Vanadium slag           Kg V          3   1,764,731    1,895,959          (7)   1,473,092            20
 Fines ore               Tons                189,691      195,495          (3)     153,650            23
 Vanadium
 segment
 Ferrovanadium
 (FeV)                   Kg V          4     961,380    1,142,005         (16)   1,244,505           (23)


WEIGHTED AVERAGE SELLING PRICES

                                                                     3Q 2014/                    3Q 2014/
                       Unit of                                       2Q 2014,                    3Q 2013,
                                  Notes     3Q 2014      2Q 2014                  3Q 2013
                      measure                                              %                           %
                                                                      change                      change

 Steel segment
 Total Steel              R/ton                7,138         7,170          0        7,075             1
 Vanadium slag          R/Kg V                    80           84          (5)          80            (1)
 Fines ore               R/ton         5         535          260         106          232           131
 Vanadium
 segment
 Ferrovanadium          R/Kg V                   262          269          (2)         253             3

 Average
 exchange rate              R/$                10.77         10.54          2         9.99             8

Notes:
( All prices quoted are delivered prices).
The below comments explain material variances between Q3 2014 and Q2 2014:
General:
1) Structural steel production volumes were lower in Q3 as a result of operational challenges in
Ironmaking that effectively reduced iron output.
2) Flat product production volumes were lower in Q3 as a result of operational challenges.
3) Vanadium Slag production reduced due to maintenance performed during Q3.
4) FeV production was negatively impacted due to delayed slag shipments from EVRAZ Highveld to
Hochvanadium.
5) Fines Ore price increase due to a provisionally amended pricing structure for locally sold Fines
Ore, pending final agreement.

15 October 2014


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

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