Key customers are large steel manufacturers, mainly in Europe. Rana Gruber has an off-take agreement with Cargill until 2030 for the entire hematite production, in which Cargill assists the company with sales, marketing, and risk management. The end market is that of processed steel to, among other things, buildings, infrastructure, and the automotive industry.
The demand drivers for hematite are largely associated with infrastructure projects, construction, and the automotive industry. In 2021, the hematite market has been stimulated by increased govern- mental infrastructure projects to compensate for reduced activity following the Covid-19 pandemic. Entering 2022, the same dynamics provide support for hematite demand.