Rana Gruber enters iron ore swap contracts.

02 Oct 2024 15:15 CEST

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

Rana Gruber ASA has agreed to sell a total of 345.000mt in the period from Q1-25
to Q4-25.

Prices and volumes:
- 30.000 mt per month in Q1-25 at an average price of 107.11 USD/mt (total of
90.000 mt).
- 55.000 mt per month in Q2-25 at an average price of 106.67 USD/mt (total of
165.000 mt).
- 15.000 mt per month in Q3-25 at an average price of 106.08 USD/mt (total of
45.000 mt).
- 15.000 mt per month in Q4-25 at an average price of 106.08 USD/mt (total of
45.000 mt).


The swap contracts relate to physical shipments in Q4-24 to Q3-25.
Final financial settlement of these shipments will relate to these swap
contracts.

Total volume of iron ore swap contracts after today is:
Q4-24: 180.000MT (avg. 119.6 USD/mt)
Q1-25: 180.000MT (avg. 111.6 USD/mt)
Q2-25: 165.000MT (avg. 106.7 USD/mt)
Q3-25: 45.000MT (avg. 106.1 USD/mt)
Q4-25: 45.000MT (avg. 106.1 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 370 employees and a
production capacity of 1.8 million metric tons of iron ore concentrates.

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