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2016-02-11 10:31:59 CET 2016-02-11 10:31:59 CET BIRTINGARSKYLDAR UPPLÝSNINGAR Afarak Group Plc - Company AnnouncementAFARAK GROUP PLC'S - INVESTMENT IN SHAKING TABLE TECHNOLOGY COMPLETED11 February 2016 - Afarak Group Plc, Stock Exchange Release AFARAK GROUP PLC'S - INVESTMENT IN SHAKING TABLE TECHNOLOGY COMPLETED Afarak Group Plc ("Afarak" or the "Company") (LSE: AFRK, NASDAQ: AFAGR) announces that its South African subsidiary Ilitha Mine has completed a "Shaking Table" plant. Ilitha Mine is part of the Synergy Africa joint venture between Afarak and Kermas Limited. The "Shaking Table" technology, already used in the mines of Afarak's Turkish subsidiary TMS, will allow the company to treat the Tailing Dump for chrome and increase Ilitha Mine's total plant mass yield from currently 49% to 65%.This in turn will drastically reduce the operating cost per ton. Full production is expected to be reached by Mid-March 2016. AFARAK GROUP PLC Dr Alistair Ruiters CEO For additional information, please contact: Afarak Group Plc Dr Alistair Ruiters, CEO, +358 (0)50 372 1130, Alistair.ruiters@afarak.com Afarak Group is a chrome mining and minerals producer focused on delivering sustainable growth with a speciality alloys business in southern Europe and a ferro alloys business in southern Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK). www.afarakgroup.com Distribution: NASDAQ Helsinki London Stock Exchange main media www.afarak.com [HUG#1985461] |
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