Rana Gruber enters iron ore swap contracts

21 Dec 2023 14:47 CET

Rana Gruber ASA has entered into Iron Ore 62% Fe, CFR China (TSI) swap
contracts.

Rana Gruber ASA has agreed to sell a total of 90.000mt in Q4-24.

Prices and volumes:
- 30.000 mt per month in Q4-24 at an average price of 120.7 USD/mt.

The swap contracts relate to physical shipments in Q3-24.
Final financial settlement of these shipments will be connected with the swap
contracts.

Total volume of iron ore swap contracts after today is:
December 23: 80.000mt (avg. 116.03 USD/mt)
Q1-24: 180.000mt (avg. 116.59 USD/mt)
Q2-24: 240.000mt (avg. 116.84 USD/mt)
Q3-24: 180.000MT (avg. 120.07 USD/mt)
Q4-24: 90.000MT (avg. 120.70 USD/mt)


Contact
CEO, Gunnar Moe
+47 941 47 650
Gunnar.moe@ranagruber.no

CFO, Erlend Høyen
+47 902 02 741
Erlend.hoyen@ranagruber.no


About Rana Gruber ASA
Rana Gruber is a Norwegian iron ore producer established in 1964, with
operations based on more than 200 years of mining experience. The company's
products are based on natural mineral resources, which are processed and
exported to customers worldwide. Key customers include steel producers and
participants in the chemical industry. The company has about 300 employees and a
production capacity of 1.8 million metric tons of iron ore concentrates.

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