Oslo, 12 November 2025 – Rana Gruber, Norway’s only iron ore supplier, today presents the financial results for the third quarter of 2025 and outlines its strategic direction at its annual Capital Markets Day in Oslo.
The headline of Rana Gruber’s capital markets day 2025 is the ambition to produce high-grade iron ore (Fe67) by 2029. Having recently achieved its previous Fe65 target, the company has demonstrated its ability for consistent product quality improvements and laid a strong foundation to unlock further value through high-grade production.
“Supplying high-grade iron ore to the steel industry is the most important contribution we can make to help meet emissions targets. Reaching a stable production of concentrates at 65 per cent is a significant milestone for us. Building on this achievement and supported by our vast resource base, efficient operations, and strong customer relationships, we are well-positioned to take the next step and deliver high-grade iron ore to meet growing market demand,” said Gunnar Moe, CEO of Rana Gruber.
Iron ore is essential for steelmaking, but traditional methods are highly carbon intensive. New low-emission technologies require high-grade iron ore to operate efficiently and sustainably. As the steel industry accelerates its transition to greener production, Rana Gruber is uniquely positioned to play a pivotal role in this transformation.
Rana Gruber is producing iron ore concentrate of 65 percent iron content
The company has now completed its Fe65 project, successfully producing iron ore concentrates with 65 per cent iron content. Since 2020, Rana Gruber has successfully lifted iron content from around 62 per cent to 65 per cent, while simultaneously increasing production volumes. This is a significant step that strengthens its competitive position in the global iron ore market and improves profitability through higher price realisation.
“Very few iron ore producers manage to increase both product quality and production volumes at the same time – but we’ve done exactly that. While global iron ore quality is declining, we have steadily improved our product and scaled up production. The investment to reach Fe65 has already been paid back in full,” added Moe.
Strategic roadmap
Rana Gruber has defined a clear strategic roadmap focused on long-term value creation. The company’s key strategic priorities include:
- Execute on high-grade iron ore production, targeting iron content around 67 per cent by 2029 to capture growing demand for high-grade products
- Maintain both operational and cost efficiency, combined with ongoing improvements in product quality to realise higher prices and optimise profitability
- Unlock the full potential of the resource base and leverage operational flexibility, following years of extensive exploration and rigorous planning
- Maintain a strong balance sheet to support cash flow generation and preserve the flexibility to pursue attractive strategic projects
- Provide attractive shareholder returns in line with the dividend policy to pay out 50-70% of adjusted net profit quarterly
Since listing on Euronext Oslo Børs in 2021, Rana Gruber has delivered solid value creation, distributing almost NOK 1.6 billion through dividends and share buybacks.
Q3 2025 results released: Stable, high production with increased quality and higher price achievement
Rana Gruber today also reported strong third-quarter results, driven by solid production and higher volumes of magnetite. Sales increased compared to the same period last year, supported by high realised prices for both hematite and magnetite. Rana Gruber maintained a robust financial position and reduced cash cost year-on-year, demonstrating strong operational efficiency and cost discipline.
Highlights:
- Strong production of 472,000 mt with increased magnetite output versus previous quarters
- Cash cost at NOK 556/mt, down 4.7% vs. Q3 2024
- Final Fe65 equipment installed to enhance quality, recovery, and process stability, lifting the iron content
- Board of Directors declared a quarterly dividend of NOK 1.60 per share, corresponding to a payout ratio of 70% for the quarter
Rana Gruber’s management will present the financial results on today at 09:00 CET in connection with the Company’s Capital Markets Day. Please find enclosed the materials relating to the third quarter financial reporting as well as the Capital Markets Day presentation.
The presentation will be held at Haakon VIIs gate 2 in Oslo. We welcome investors, analysts and other stakeholders to participate. The presentation will also be available to view online.
You can watch the event live following this link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251112_1
For more information, please contact:
Gunnar Moe, Chief Executive Officer: +47 941 47 650
Erlend Høyen, Chief Financial Officer: +47 902 02 741
About Rana 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 370 employees and a production capacity of 1.8 million metric tons of iron ore concentrates.
This information is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act. This stock exchange announcement was published by Vegard Nerdal, IR at Rana Gruber ASA on 12 November 2025 at 08:00 CET.