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Thu 15 Jul 2010, 14:00 HVL - Highveld Steel and Vanadium Corporation Limited - Second quarter ending
HVL
HVL                                                                             
HVL - Highveld Steel and Vanadium Corporation Limited - Second quarter ending   
30 June 2010 operational results                                                
Highveld Steel and Vanadium Corporation Limited                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1960/001900/06)                                           
Share code:  HVL                                                                
ISIN code:  ZAE000003422                                                        
("Highveld")                                                                    
SECOND QUARTER ENDING 30 JUNE 2010 OPERATIONAL RESULTS                          
Following the practice of the holding company, Evraz Group S.A., to release     
quarterly operational information, Highveld hereby releases its results as      
follows:                                                                        
PRODUCTION VOLUMES                                                              
                Unit of    2Q 2010     2Q 2009        2Q     1Q 2010       2Q   
                measure                            2010/                2010/   
2Q                   1Q   
                                                 2009, %                2010,   
                                                  change                    %   
                                                                       change   

Steel segment                                                                   
Hot metal           Tons    173,862     146,013      19.1     180,456    (3.7)  
Continuously        Tons    175,785     147,072      19.5     179,718    (2.2)  
cast blocks                                                                     
Blocks and          Tons          -      58,808   (100.0)           -        -  
slabs for sale                                                                  
Sections            Tons     56,484      35,681      58.3      55,333      2.1  
Plates              Tons     50,625      33,538      50.9      61,493   (17.7)  
Coil                Tons     34,317      21,028      63.2      36,757    (6.6)  
Vanadium slag    Kg V2O5  3,649,928   2,470,283      47.8   3,394,505      7.5  
   Internal     Kg V2O5  3,156,909   2,470,283      27.8   2,012,376     56.9   
consumption                                                                     
Fines ore           Tons    146,545      57,600     154.4     165,863   (11.6)  
Vanadium                                                                        
segment                                                                         
Ferrovanadium       Kg V  1,385,238   1,105,589      25.3   1,567,910   (11.7)  
AVERAGE SELLING PRICES                                                          
                Unit of    2Q 2010   2Q 2009      2Q   1Q 2010       2Q         
                measure                        2010/              2010/         
2Q                 1Q         
                                               2009,              2010,         
                                                   %                  %         
                                              change             change         

Steel segment                                                                   
Total Steel        $/ton        713       521    36.9       700      1.9        
Vanadium slag       $/Kg          7         -   100.0         6    16.67        
V2O5                                                         
Fines ore          $/ton         47        14   235.7        34     38.2        
Vanadium                                                                        
segment                                                                         
Ferrovanadium     $/Kg V         30        19    57.9        24     25.0        
                                                                                
Average              R/$       7.54      8.48  (11.1)      7.52      0.3        
exchange rate                                                                   
Note:                                                                           
1) All prices quoted are delivered prices.                                      
15 July 2010                                                                    
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Date: 15/07/2010 14:00:01 Produced by the JSE SENS Department.                  
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