An extreme weakness in demand and prices for chrome mining and minerals producer Afarak’s products cut the dual-listed firm’s revenue by 25.6% to €39.5-million in the second quarter of this year. Emerging from what Afarak CEO Alistair Ruiters described as one of the most challenging external environments in recent years, the group experienced an 89.8% plunge in earnings before interest, taxes, depreciation and amortisation (Ebitda) during the three months to June 30.
