NASDAQ Helsinki- and London-listed chromium miner Afarak has reported a significant increase in its specialty segment production during the third quarter of 2025, despite a sharp drop in overall output as a result of lower South African mining activity.

The company’s specialty alloys production rose by 28.3% year-on-year to 23 952 t in the third quarter.

Overall group production, however, fell by 51.4% year-on-year, reflecting a 67.9% decline in South African mining activity, which dropped to 28 932 t from 90 165 t in the third quarter of 2024.

Afarak attributed the reduced domestic mining output to the sale of its Zeerust mine, in the North West province, in the second quarter of this year and extensive preparation work at its Vlakpoort and Mecklenburg mines, both in Limpopo.

In contrast, mining activity at the company’s Turkish operations increased by 41.3%, reaching 6 039 t compared with 4 273 t in the third quarter of 2024.

Processing volumes across the group also increased by 24.4% to 17 913 t in the third quarter, up from 14 396 t in the same period last year.

Year-to-date figures show similar trends, with specialty alloys production up 23.1% to 80 106 t, processing volumes up 25.5% to 58 141 t, and Turkish mining up 17.3% to 21 966 t, while South African mining declined 43.9% to 138 114 t.

Looking ahead, Afarak noted that demand for chromium ore remained strong in China, where reduced production by major South African ferrochrome producers was expected to boost ore exports and ferrochrome production.

In contrast, subdued activity among stainless steel producers in Western markets continues to limit demand for ferrochrome in those regions.

The company also highlighted gradually improving world market prices for both high and low carbon ferrochrome, as well as rising chromium ore prices in China.

Afarak pointed out that fluctuations in the dollar and discussions around potential South African export quotas for chromium ore could affect future results.