Rana Gruber has today published the production update for the fourth quarter of 2023. The concentrate production of the fourth quarter was 452.000 metric tons, down from 460.000 metric tons last year. This is a strong quarter, despite the 5-day scheduled maintenance stop conducted in the fourth quarter this year to implement improvements to the magnetite circuit and minor upgrades for the Fe65 project. In 2024, the production reached 1.817.000 tons, up from 1.728.000 tons last year. This marks the strongest production year in the company's history. Volume sold of hematite was 406.000 metric tons, which corresponds to seven shipments. The last of these seven shipments left Mo i Rana onJanuary 2, 2024 . Approximately 2/3 of the cargo was loaded by the end of the year and will be recognized as revenue in the fourth quarter. The remaining 1/3 of the cargo will be recognized as revenue in the first quarter of 2024. Final settlement of these shipments will be in January (2), February (2) and March (3). As previously announced, two shipment was sent toAsia . Final settlement for these shipments will be in January and March. AboutRana Gruber 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. Contact CEO,Gunnar Moe +47 941 47 650 Gunnar.moe@ranagruber.no CFO,Erlend Høyen +47 902 02 741 Erlend.hoyen@ranagruber.no
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