Ferroglobe (GSM) 20-F2 May 222021 FY Annual report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2021shares
Document and Entity Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2021
Entity File Number	001-37668
Entity Registrant Name	Ferroglobe PLC
Entity Incorporation, State or Country Code	X0
Entity Address, Address Line One	13 Chesterfield Street
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	W1J 5JN
Title of 12(b) Security	Ordinary Shares (nominal value of $0.01)
Trading Symbol	GSM
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Document Accounting Standard	International Financial Reporting Standards
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	187,313,460
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001639877
ICFR Auditor Attestation Flag	true
Amendment Flag	false
Auditor Name	Deloitte, S.L.
Auditor Firm ID	1223
Auditor Location	Madrid, Spain
Business Contact
Document and Entity Information [Line Items]
Entity Address, Address Line One	13 Chesterfield Street
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	W1J 5JN
City Area Code	750
Local Phone Number	130‑8322
Contact Personnel Name	Beatriz García-Cos

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Non-current assets
Goodwill	$ 29,702	$ 29,702
Other intangible assets	100,642	20,756
Property, plant and equipment	554,914	620,034
Other non-current financial assets	4,091	5,057
Deferred tax assets	7,010
Non-current receivables from related parties	1,699	2,454
Other non-current assets	18,734	11,904
Non-current restricted cash and cash equivalents	2,272
Total non-current assets	719,064	689,907
Current assets
Inventories	289,797	246,549
Trade and other receivables	381,073	242,262
Current receivables from related parties	2,841	3,076
Current income tax assets	7,660	12,072
Other current financial assets	104	1,008
Other current assets	8,408	20,714
Current restricted cash and cash equivalents		28,843
Cash and cash equivalents	114,391	102,714
Total current assets	804,274	657,238
Total assets	1,523,338	1,347,145
Equity
Share capital	1,962	1,784
Reserves	544,433	696,774
Translation differences	(227,318)	(206,759)
Valuation adjustments	5,525	5,755
Result attributable to the Parent	(110,624)	(246,339)
Non-controlling interests	106,053	114,504
Total equity	320,031	365,719
Non-current liabilities
Deferred income	895	620
Provisions	60,958	108,487
Bank borrowings	3,670	5,277
Lease liabilities	9,968	13,994
Debt instruments	404,938	346,620
Other financial liabilities	4,549	29,094
Other obligations	38,082	15,006
Other non-current liabilities	1,476	1,761
Deferred tax liabilities	25,145	27,781
Total non-current liabilities	549,681	548,640
Current liabilities
Provisions	137,625	55,296
Bank borrowings	95,297	102,330
Lease liabilities	8,390	8,542
Debt instruments	35,359	10,888
Other financial liabilities	62,464	34,802
Payables to related parties	9,545	3,196
Trade and other payables	206,000	149,201
Current income tax liabilities	1,775	2,538
Other obligations	22,843	4,672
Other current liabilities	74,328	61,321
Total current liabilities	653,626	432,786
Total equity and liabilities	$ 1,523,338	$ 1,347,145

CONSOLIDATED INCOME STATEMENTS

CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED INCOME STATEMENTS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Profit (loss) [abstract]
Sales	$ 1,778,908	$ 1,144,434	$ 1,615,222
Raw materials and energy consumption for production	(1,184,896)	(835,486)	(1,214,397)
Other operating income	110,085	33,627	54,213
Staff costs	(280,917)	(214,782)	(285,029)
Other operating expense	(296,809)	(132,059)	(225,705)
Depreciation and amortization charges, operating allowances and write-downs	(97,328)	(108,189)	(120,194)
Impairment (loss) gain	137	(73,344)	(175,899)
Net (loss) gain due to changes in the value of assets	758	158	(1,574)
(Loss) gain on disposal of non-current assets	1,386	1,292	(2,223)
Other (loss) gain	62	(1)
Operating (loss) profit	31,386	(184,350)	(355,586)
Finance income	253	177	1,380
Finance costs	(149,189)	(66,968)	(63,225)
Financial derivative gain		3,168	2,729
Exchange differences	(2,386)	25,553	2,884
(Loss) profit before tax	(119,936)	(222,420)	(411,818)
Income tax benefit (expense)	4,562	(21,939)	41,541
(Loss) for the year from continuing operations	(115,374)	(244,359)	(370,277)
(Loss) profit for the year from discontinued operations		(5,399)	84,637
Total (Loss) for the year	(115,374)	(249,758)	(285,640)	[1]
Attributable to the Parent	(110,624)	(246,339)	(280,601)
Attributable to non-controlling interests	(4,750)	(3,419)	(5,039)
Earnings per share
Attributable to the Parent	$ (110,624)	$ (246,339)	$ (280,601)
Weighted average basic shares outstanding	176,508,144	169,269,281	169,152,905
Weighted average dilutive shares outstanding	176,508,144	169,269,281	169,152,905
Basic (loss) earnings per ordinary share (US$)	$ (0.63)	$ (1.46)	$ (1.66)
Diluted (loss) earnings per ordinary share (US$)	$ (0.63)	$ (1.46)	$ (1.66)
(Loss) for the year from continuing operations attributable to parent	$ (110,624)	$ (240,940)	$ (365,238)
Basic (loss) earnings per ordinary share - continuing operations (US$)	$ (0.63)	$ (1.42)	$ (2.16)
Diluted (loss) earnings per ordinary share - continuing operations (US$)	$ (0.63)	$ (1.42)	$ (2.16)
(Loss) profit for the year from discontinued operations		$ (5,399)	$ 84,637
Basic (loss) earnings per ordinary share - discontinued operations (US$)		$ (0.03)	$ 0.50
Diluted (loss) earnings per ordinary share - discontinued operations (US$)		$ (0.03)	$ 0.50

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Profit (loss)	$ (115,374)	$ (249,758)	$ (285,640)	[1]
Items that will not be reclassified subsequently to income or loss:
Defined benefit obligation	2,566	3,630	(1,859)
Tax effect	139	(45)
Total income and expense that will not be reclassified subsequently to income or loss	2,705	3,585	(1,859)
Items that may be reclassified subsequently to income or loss:
Arising from cash flow hedges		(3,752)	9,663
Translation differences	(20,393)	3,239	(8,698)
Total income and expense that may be reclassified subsequently to income or loss	(20,393)	(513)	965
Items that have been reclassified to income or loss in the period:
Arising from cash flow hedges	(922)	8,091	2,390
Tax effect			(805)
Total transfers to income or loss	(922)	8,091	1,585
Other comprehensive income (loss) for the year, net of income tax	(18,610)	11,163	691
Total comprehensive (loss) for the year	(133,984)	(238,595)	(284,949)
Attributable to the Parent	(131,413)	(235,022)	(281,097)
Attributable to non-controlling interests	$ (2,571)	$ (3,573)	$ (3,852)

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Share Capital	Reserves	Share Premium	Translation Difference	Valuation Adjustments	Result for the Year	Noncontrolling interests	Total
Shares outstanding at beginning of period at Dec. 31, 2018	170,864
Equity at beginning of period at Dec. 31, 2018	$ 1,784	$ 941,707		$ (207,366)	$ (11,559)	$ 43,661	$ 116,145	$ 884,372
Comprehensive (loss) income				(9,886)	9,390	(280,601)	(3,852)	(284,949)
Share-based compensation		4,879						4,879
Distribution of profit (loss)		43,661				(43,661)
Dividends paid to joint venture partner							(97)	(97)
Acquisition of non-controlling interests in Ferrosolar OPCO Group SL. and Rocas Arcillas and Minerales, S.A.		(14,889)		7,100			5,881	(1,908)
Equity at end of period at Dec. 31, 2019	$ 1,784	975,358		(210,152)	(2,169)	(280,601)	118,077	602,297
Shares outstanding at end of period at Dec. 31, 2019	170,864
Comprehensive (loss) income				3,393	7,924	(246,339)	(3,573)	(238,595)
Share-based compensation		2,017						2,017
Distribution of profit (loss)		(280,601)				280,601
Equity at end of period at Dec. 31, 2020	$ 1,784	696,774		(206,759)	5,755	(246,339)	114,504	365,719
Shares outstanding at end of period at Dec. 31, 2020	170,864
Comprehensive (loss) income				(20,559)	(230)	(110,624)	(2,571)	(133,984)
Issue of share capital	$ 178		$ 86,220					86,398
Share-based compensation		3,627						3,627
Distribution of profit (loss)		(246,339)				246,339
Dividends paid							(5,880)	(5,880)
Other changes		4,151						4,151
Equity at end of period at Dec. 31, 2021	$ 1,962	$ 458,213	$ 86,220	$ (227,318)	$ 5,525	$ (110,624)	$ 106,053	$ 320,031
Shares outstanding at end of period at Dec. 31, 2021	188,883
Shares issued (in shares)	18,019

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019
Cash flows from operating activities:
(Loss) for the year		$ (115,374)	$ (249,758)		$ (285,640)	[1]
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:
Income tax expense (benefit)		(4,562)	21,939		(40,528)	[1]
Depreciation and amortization charges, operating allowances and write-downs		97,328	108,189		123,024	[1]
Finance income (loss)		(253)	(177)		2,140	[1]
Finance costs		149,189	66,968		66,139	[1]
Financial derivative (gain) loss			(3,168)		(2,729)	[1]
Exchange differences		2,386	(25,553)		(2,884)	[1]
Impairment (gain) loss		(137)	73,344		175,899	[1]
Loss (gain) on disposal of discontinued operations			5,399		(85,101)	[1]
Loss (gain) due to changes in the value of assets		(758)	(158)		1,574	[1]
Loss (gain) on disposal of non-current assets		(1,386)	(1,292)		2,223	[1]
Share-based compensation		3,627	2,017		4,879	[1]
Other loss (gain)		(62)
Changes in operating assets and liabilities:
(Increase) decrease in inventories		(60,296)	114,585		91,531	[1]
(Increase) decrease in trade and other receivables		(161,434)	71,034		30,933	[1]
Increase (decrease) in trade and other payables		64,382	(55,405)		(63,187)	[1]
Other changes in operating assets and liabilities		29,803	14,473		(45,878)	[1]
Income tax paid		(3,794)	11,831		(3,589)	[1]
Net cash provided by (used in) operating activities		(1,341)	154,268		(31,194)	[1]
Cash flows from investing activities:
Interest and finance income received		207	630		1,673	[1]
Payments due to investments:
Acquisition of subsidiaries	[1]				9,088
Other intangible assets			(2,654)		(184)	[1]
Property, plant and equipment		(27,597)	(30,257)		(32,445)	[1]
Other financial assets	[1]				(1,248)
Disposals:
Disposal of subsidiaries	[1]				176,590
Other non-current assets		1,919	341		8,668	[1]
Other		1,623			3,768	[1]
Net cash provided (used) by investing activities		(23,848)	(31,940)		165,910	[1]
Cash flows from financing activities:
Payment for debt and equity issuance costs		(43,755)	(4,540)		(15,117)	[1]
Proceeds from equity issuance		40,000
Proceeds from debt issuance		60,000
Repayment of hydro leases	[1]				(55,352)
Increase (decrease) in bank borrowings:
Borrowings		659,083	177,593		245,629	[1]
Payments		(671,467)	(235,296)		(329,501)	[1]
Amounts paid due to leases		(11,232)	(10,315)		(18,105)	[1]
Other amounts (paid) due to financing activities			(2,863)		(8,526)	[1]
Interest paid		(22,177)	(37,912)		(43,033)	[1]
Net cash provided (used) by financing activities		10,452	(113,333)		(224,005)	[1]
Total net cash flows for the year		(14,737)	8,995		(89,289)	[1]
Beginning balance of cash and cash equivalents		131,557	123,175	[1]	216,647	[1]
Exchange differences on cash and cash equivalents in foreign currencies		(157)	(613)		(4,183)	[1]
Ending balance of cash and cash equivalents		$ 116,663	$ 131,557		$ 123,175	[1]

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

General Information

General Information	12 Months Ended
General Information	Dec. 31, 2021
General Information [Abstract]
General information	1. General information Ferroglobe PLC and subsidiaries (the “Company” or “Ferroglobe”) is among the world’s largest producers of silicon metal and silicon-based alloys, important ingredients in a variety of industrial and consumer products. The Company’s customers include major silicone chemical, aluminum and steel manufacturers, auto companies and their suppliers, ductile iron foundries, manufacturers of photovoltaic solar cells and computer chips, and concrete producers. Additionally, the Company was operating hydroelectric plants (hereinafter “energy business”) in Spain until August 30, 2019 and is still operating hydroelectric plants in France. Ferroglobe PLC (the “Parent Company” or “the Parent”) is a public limited company that was incorporated in the United Kingdom on February 5, 2015 (formerly named ‘Velonewco Limited’). The Parent’s registered office is 13 Chesterfield Street, London W1J 5JN (United Kingdom). On December 23, 2015, Ferroglobe PLC consummated the acquisition (“Business Combination”) of Globe Specialty Metals, Inc. and subsidiaries (“GSM” or “Globe”) and Grupo FerroAtlántica, S.A.U. (“FerroAtlántica”). Presentation of results of Spanish energy business for the prior years As described in Note 30 of these financial statements, on June 2, 2019 the Company entered into an agreement with Kehlen Industries Management, S.L., a wholly-owned subsidiary of TSSP Adjacent Opportunities Partners, L.P., for the sale of the entire share capital of FerroAtlántica, S.A.U ("FAU"), the owner and operator of the Group's hydro-electric assets in Galicia, Spain (the “Spanish Hydro-electric Business”) and its smelting facility at Cee-Dumbria and effectively sold the Spanish Hydroelectric Business on August 30, 2019. The Spanish Hydroelectric Business was classified as a disposal group held for sale and accounted for as a discontinued operation in the second quarter of 2019.

Organization and Subsidiaries

Organization and Subsidiaries	12 Months Ended
Organization and Subsidiaries	Dec. 31, 2021
Disclosure Of Organization and Subsidiaries [Abstract]
Organization and Subsidiaries	2. Organization and Subsidiaries Ferroglobe has a diversified production base consisting of production facilities across North America, Europe, South America, South Africa and Asia. The subsidiaries of Ferroglobe PLC as of December 31, 2021 and 2020, classified by reporting segments, were as follows: Percentage of Ownership Direct Total Reporting Segment Registered Alabama Sand and Gravel, Inc. — 100.0 North America – Silicon Delaware - USA Alden Resources, LLC — 100.0 North America – Silicon Delaware - USA Alden Sales Corporation, LLC — 100.0 North America – Silicon Delaware - USA ARL Resources, LLC — 100.0 North America – Silicon Delaware - USA ARL Services, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group Holdings, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group, LLC — 100.0 North America – Silicon Delaware - USA ECPI, Inc. — 100.0 North America – Silicon Delaware - USA Gatliff Services, LLC — 100.0 North America – Silicon Delaware - USA Globe BG, LLC — 100.0 North America – Silicon Delaware - USA GBG Financial LLC — 100.0 North America – Silicon Delaware - USA GBG Holdings, LLC — 100.0 North America – Silicon Delaware - USA Globe Metallurgical Inc. — 100.0 North America – Silicon Delaware - USA Globe Metals Enterprises, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys I, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys II, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises Holdings, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises, LLC — 100.0 North America – Silicon Delaware - USA GSM Sales, Inc. — 100.0 North America – Silicon Delaware - USA Laurel Ford Resources, Inc. — 100.0 North America – Silicon Delaware - USA LF Resources, Inc. — 100.0 North America – Silicon Delaware - USA Metallurgical Process Materials, LLC — 100.0 North America – Silicon Delaware - USA Norchem, Inc. — 100.0 North America – Silicon Florida - USA QSIP Canada ULC — 100.0 North America – Silicon Canada Quebec Silicon General Partner — 51.0 North America – Silicon Canada Quebec Silicon Limited Partnership — 51.0 North America – Silicon Canada Tennessee Alloys Company, LLC — 100.0 North America – Silicon Delaware - USA West Virginia Alloys, Inc. — 100.0 North America – Silicon Delaware - USA WVA Manufacturing, LLC — 51.0 North America – Silicon Delaware - USA Cuarzos Industriales, S.A.U. — 100.0 Europe – Silicon A Coruña - Spain FerroPem, S.A.S. — 100.0 Europe – Silicon France Rocas, Arcillas y Minerales, S.A. — 100.0 Europe – Silicon A Coruña - Spain Ferroatlántica del Cinca, S.L. — 99.9 Europe – Manganese Madrid - Spain Ferroglobe Mangan Norge A.S. — 100.0 Europe – Manganese Norway Ferroglobe Manganese France S.A.S. — 100.0 Europe – Manganese France Grupo FerroAtlántica, S.A.U. — 100.0 Europe – Manganese and Silicon Madrid - Spain Kintuck (France) S.A.S. — 100.0 Europe – Manganese France Kintuck A.S. — 100.0 Europe – Manganese Norway Rebone Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Silicon Smelters (Pty.), Ltd. — 100.0 South Africa – Silicon Polokwane - South Africa Silicon Technology (Pty.), Ltd. — 100.0 South Africa – Silicon South Africa Thaba Chueu Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Cuarzos Indus. de Venezuela (Cuarzoven), S.A. — 100.0 Other segments Venezuela Emix, S.A.S. — 100.0 Other segments France Ferroatlántica de México, S.A. de C.V. — 100.0 Other segments Nueva León - Mexico Ferroatlántica Participaciones, S.L.U. — 100.0 Other segments Madrid - Spain Grupo FerroAtlántica de Servicios, S.L.U. — 100.0 Other segments Madrid - Spain Ferroatlántica de Venezuela (FerroVen), S.A. — 99.9 Other segments Venezuela Ferroatlántica Deutschland, GmbH — 100.0 Other segments Germany Ferroatlántica do Brasil Mineraçao Ltda. — 70.0 Other segments Brazil Ferroglobe Holding Company, LTD 100 100.0 Other segments United Kingdom Ferroglobe Finance Company, PLC — 100.0 Other segments United Kingdom FerroManganese Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferroquartz Holdings, Ltd. (Hong Kong) — 100.0 Other segments Hong Kong FerroQuartz Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferrosolar OPCO Group S.L. — 100.0 Other segments Spain Ferrosolar R&D S.L. — 50.0 Other segments Spain FerroTambao, S.A.R.L. — 90.0 Other segments Burkina Faso Globe Argentina Holdco, LLC — 100.0 Other segments Delaware - USA Globe Metales S.R.L. — 100.0 Other segments Argentina Globe Specialty Metals, Inc. — 100.0 Other segments Delaware - USA GSM Financial, Inc. — 100.0 Other segments Delaware - USA GSM Netherlands, B.V. — 100.0 Other segments Netherlands Hidroelectricité de Saint Beron, S.A.S. — 100.0 Other segments France Mangshi FerroAtlántica Mining Industry Service Company Limited — 100.0 Other segments Mangshi, Dehong - Yunnan - China Ningxia Yonvey Coal Industrial Co., Ltd. — 98.0 Other segments China Photosil Industries, S.A.S. — 100.0 Other segments France Ferroglobe Innovation, S.L.U — 100.0 Other segments Spain Solsil, Inc. — 92.4 Other segments Delaware - USA Ultracore Energy S.A. — 100.0 Other segments Argentina 2020 Subsidiaries Percentage of Ownership Direct Total Reporting Segment Registered Alabama Sand and Gravel, Inc. — 100.0 North America – Silicon Delaware - USA Alden Resources, LLC — 100.0 North America – Silicon Delaware - USA Alden Sales Corporation, LLC — 100.0 North America – Silicon Delaware - USA ARL Resources, LLC — 100.0 North America – Silicon Delaware - USA ARL Services, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group Holdings, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group, LLC — 100.0 North America – Silicon Delaware - USA ECPI, Inc. — 100.0 North America – Silicon Delaware - USA Gatliff Services, LLC — 100.0 North America – Silicon Delaware - USA Globe BG, LLC — 100.0 North America – Silicon Delaware - USA GBG Financial LLC — 100.0 North America – Silicon Delaware - USA GBG Holdings, LLC — 100.0 North America – Silicon Delaware - USA Globe Metallurgical Inc. — 100.0 North America – Silicon Delaware - USA Globe Metals Enterprises, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys I, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys II, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises Holdings, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises, LLC — 100.0 North America – Silicon Delaware - USA GSM Sales, Inc. — 100.0 North America – Silicon Delaware - USA Laurel Ford Resources, Inc. — 100.0 North America – Silicon Delaware - USA LF Resources, Inc. — 100.0 North America – Silicon Delaware - USA Metallurgical Process Materials, LLC — 100.0 North America – Silicon Delaware - USA Norchem, Inc. — 100.0 North America – Silicon Florida - USA QSIP Canada ULC — 100.0 North America – Silicon Canada Quebec Silicon General Partner — 51.0 North America – Silicon Canada Quebec Silicon Limited Partnership — 51.0 North America – Silicon Canada Tennessee Alloys Company, LLC — 100.0 North America – Silicon Delaware - USA West Virginia Alloys, Inc. — 100.0 North America – Silicon Delaware - USA WVA Manufacturing, LLC — 51.0 North America – Silicon Delaware - USA Cuarzos Industriales, S.A.U. — 100.0 Europe – Silicon A Coruña - Spain Ferroatlántica del Cinca, S.L. — 99.9 Europe – Manganese Madrid - Spain Ferroatlántica de Sabón, S.L.U. — 100.0 Europe – Silicon Madrid - Spain Ferroatlántica de Boo, S.L.U. — 100.0 Europe – Manganese Madrid - Spain Ferroatlántica Participaciones, S.L.U. — 100.0 Other segments Madrid - Spain Ferroglobe Mangan Norge A.S. — 100.0 Europe – Manganese Norway Ferroglobe Manganese France S.A.S. — 100.0 Europe – Manganese France FerroPem, S.A.S. — 100.0 Europe – Silicon France Ferrous Receivables DAC. — 100.0 Other segments Ireland Grupo FerroAtlántica, S.A.U. 100 100.0 Europe – Manganese Madrid - Spain Grupo FerroAtlántica de Servicios, S.L.U. — 100.0 Other segments Madrid - Spain Kintuck (France) S.A.S. — 100.0 Europe – Manganese France Kintuck A.S. — 100.0 Europe – Manganese Norway Rocas, Arcillas y Minerales, S.A. — 100.0 Europe – Silicon A Coruña - Spain Rebone Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Silicon Smelters (Pty.), Ltd. — 100.0 South Africa – Silicon Polokwane - South Africa Silicon Technology (Pty.), Ltd. — 100.0 South Africa – Silicon South Africa Thaba Chueu Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Cuarzos Indus. de Venezuela (Cuarzoven), S.A. — 100.0 Other segments Venezuela Emix, S.A.S. — 100.0 Other segments France Ferroatlántica de México, S.A. de C.V. — 100.0 Other segments Nueva León - Mexico Ferroatlántica de Venezuela (FerroVen), S.A. — 99.9 Other segments Venezuela Ferroatlántica Deutschland, GmbH — 100.0 Other segments Germany Ferroatlántica do Brasil Mineraçao Ltda. — 70.0 Other segments Brazil Ferroatlántica I+D, S.L.U. — 100.0 Other segments Madrid - Spain FerroAtlántica International Ltd. — 100.0 Other segments United Kingdom Ferroglobe Services (UK) Ltd. 100 100.0 Other segments United Kingdom FerroManganese Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferroquartz Holdings, Ltd. (Hong Kong) — 100.0 Other segments Hong Kong FerroQuartz Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferrosolar OPCO Group S.L. — 100.0 Other segments Spain Ferrosolar R&D S.L. — 50.0 Other segments Spain FerroTambao, S.A.R.L. — 90.0 Other segments Burkina Faso Globe Argentina Holdco, LLC — 100.0 Other segments Delaware - USA Globe Metales S.R.L. — 100.0 Other segments Argentina Globe Specialty Metals, Inc. 100 100.0 Other segments Delaware - USA GSM Financial, Inc. — 100.0 Other segments Delaware - USA GSM Netherlands, B.V. — 100.0 Other segments Netherlands Hidroelectricité de Saint Beron, S.A.S. — 100.0 Other segments France Mangshi FerroAtlántica Mining Industry Service Company Limited — 100.0 Other segments Mangshi, Dehong -Yunnan -China Mangshi Sinice Silicon Industry Company Limited — 100.0 Other segments Mangshi, Dehong -Yunnan -China Ningxia Yonvey Coal Industrial Co., Ltd. — 98.0 Other segments China Photosil Industries, S.A.S. — 100.0 Other segments France Silicio Ferrosolar, S.L.U. — 100.0 Other segments Spain Solsil, Inc. — 92.4 Other segments Delaware - USA Ultracore Energy S.A. — 100.0 Other segments Argentina Subsidiaries are all companies over which Ferroglobe has control. Control is achieved when the Company: ● has power over the investee; ● is exposed, or has rights, to variable returns from its involvement with the investee; and ● has the ability to use its power over the investee to affect the amount of the investor’s returns. The Company has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The Company considers all relevant facts and circumstances in assessing whether or not the Company’s voting rights in an investee are sufficient to give it power, including: ● the total voting rights held by the Company relative to the size and dispersion of holdings of the other vote holders; ● potential voting rights held by the Company, other vote holders or other parties; ● rights arising from other contractual arrangements; and ● any additional facts and circumstances that indicate that the Company has, or does not have, the current ability to direct the relevant activities at the time these decisions need to be made, including voting patterns at previous shareholders’ meetings. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. The Company uses the acquisition method to account for the acquisition of subsidiaries. According to this method, the consideration transferred for the acquisition of a subsidiary corresponds to the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Company. The consideration transferred also includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Any contingent consideration transferred by the Company is recognized at fair value at the date of acquisition. Subsequent changes in the fair value of the contingent consideration classified as an asset or a liability are recognized in accordance with IFRS 9 in the income statement. The costs related to the acquisition are recognized as expenses in the years incurred. The identifiable assets acquired and the liabilities and contingent liabilities assumed in a business combination are initially recognized at their fair value at the date of acquisition. The Company recognizes any non-controlling interest in the acquiree at the non-controlling interest’s proportionate share of the acquiree’s identifiable net assets. Profit or loss for the period and each component of other comprehensive (loss) income are attributed to the owners of the Company and to the non-controlling interests. The Company attributes total comprehensive (loss) income to the owners of the Company and to the non-controlling interests even if the profit or loss of the non-controlling interests gives rise to a balance receivable. All assets and liabilities, equity, income, expenses and cash flows relating to transactions between subsidiaries are eliminated in full in consolidation.

Basis of presentation and basis

Basis of presentation and basis of consolidation	12 Months Ended
Basis of presentation and basis of consolidation	Dec. 31, 2021
Disclosure Of Basis Of Presentation And Basis Of Consolidation [Abstract]
Basis of presentation and basis of consolidation	3. Basis of presentation and basis of consolidation 3.1 Basis of presentation These consolidated financial statements have been issued in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board and interpretations issued by the International Financial Reporting Interpretations Committee (collectively “IFRS”). The consolidated financial statements have been authorized for issuance on May 2, 2022. All accounting policies and measurement bases with effect on the consolidated financial statements were applied in their preparation. The consolidated financial statements were prepared on a historical cost basis, with the exceptions disclosed in the notes to the consolidated financial statements, where applicable, and in those situations where IFRS requires that financial assets and financial liabilities are valued at fair value. For the years ended December 31, 2021, 2020 and 2019, the Company reported net losses of $115,374 thousand, $249,758 thousand and $285,640 thousand, respectively. Our business has historically been subject to fluctuations in the price of the products and market demand for them, caused by general and regional economic cycles, raw material and energy price fluctuations, competition and other factors. Throughout 2021, COVID -19 and its consequences continued to impact our business, operations, and financial results. Such conditions, and any future decline in the global silicon metal, manganese-based alloys and silicon-based alloys industries could have a material adverse effect on our business, results of operations and financial condition. Also, many of our products are traded internationally at prices that are significantly affected by worldwide supply and demand, and our costs are particularly sensitive to increases in energy prices and raw material prices. Consequently, our financial performance will fluctuate with the general economic cycle, and our business is even more cyclical than the general economy. With the significant change in performance during the second half of 2021, which has continued in the first quarter of 2022, our revenue and operating margins continued improving. Consistent with our strategic objectives, we seek to strengthen the Company’s balance sheet to ensure flexibility and competitiveness through the cycle. In 2020 we developed a turnaround plan focused on improving our cost structure and bolstering the long-term competitiveness of the business. 2021 marked the first year of the execution of the plan spanning across a number of value creation areas, including commercial excellence, working capital optimization, footprint optimization, continuous plant efficiency, centralized procurement, and the reduction of corporate overheads. During 2022, we will continue executing on various cost cutting initiatives, as well as focusing on capability building to improve our operating model and processes. Through these efforts we seek to improve our overall decision making, establishing a new culture focused on data-driven decision making under a centralized model. The market momentum in customer demand and significantly improved pricing during 2021 has been captured in the order book for the first half of 2022, and the projections for the coming twelve months reflect a strong improvement in financial performance as a consequence of the benefit of our turnaround plan, coupled with the improvement in broader operating environment. We have been closely monitoring the situation in Ukraine since the war began. Russia is a key supplier of raw materials to Ferroglobe and other ferro-alloy producers. We have convened a committee that has met daily to monitor the situation, and this will continue for as long as the crisis persists. While our suppliers have not been specifically targeted by sanctions, Russia’s expulsion from Swift and sanctions on various Russian banks have presented difficulties in how we pay for raw materials from Russia, and transportation and other supply chain interruptions have impacted deliveries. We have been successful in implementing mitigating actions that we believe will alleviate these issues and allow us to continue production. To support its assessment of the going concern basis of accounting, management has prepared a financial model which considers the revenues, expenditures, cash flows, net tax payments and capital expenditures for a period of at least one year from the date of approval of these financial statements. The financial projections to determine these future cash flows are modelled considering the principal variables that determine the historic flows at a Group level including prices, volumes, costs, capital expenditures and net working capital. These projections are based on the 2022 annual budget and management’s five-year financial model. Key assumptions include estimates on sale prices based on the order book and indexes. It has to be considered that sale prices are the variable to which the Company´s cash flows are more sensitive to. Sensitivities have been run, including stressed scenarios with reductions on the base case sale prices for the coming months, to reflect the key risks and uncertainties impacting the cash flow projections. The potential impact of the Ukranian war has also been considered in this analysis. 2021 marked an active year with regards to our capital markets activity. At the center of the comprehensive financing effort was the extension of the maturity of our 9 3/8% Also, the Company is subject to certain restrictive covenants under the existing financing agreements, which limit, among other things, its ability to incur certain additional indebtedness (see Note 18). In this respect we are currently discussing with financial institutions for new financing agreements within the limits of the covenants mentioned before. Additionally, the Company has increased liquidity through additional funding in early 2022 and through its own cash generation. In February 2022, the Spanish Fund for supporting strategic companies, on a proposal of the Sociedad Estatal de Participaciones Industriales (“SEPI”), approved €34.5 million in loans to Grupo Ferroatlántica, S.A.U. and Grupo Ferroátlantica de Servicios, S.L.U., wholly owned subsidiaries of the Company. Ferroglobe’s primary short-term liquidity needs are to fund its capital expenditure commitments, fund specific initiatives underlying the strategic plan, service its existing debt, fund working capital and comply with other contractual obligations. Ferroglobe’s long-term liquidity needs primarily relate to debt servicing and repayment. Ferroglobe’s core objective with respect to capital management is to maintain a balanced and sustainable capital structure through the economic cycles, while keeping the cost of capital at competitive levels. We believe our working capital is sufficient for our present requirements, and we anticipate generating sufficient cash from operations to satisfy our short and long-term liquidity needs. As a result of all the analysis performed, the Company has concluded that there is no substantial doubt about its ability to continue as a going concern. 3.2 International financial reporting standards Application of new accounting standards New and amended standards and interpretations adopted by the Company No new standards effective on January 1, 2021 have a material impact on the consolidated financial statements. The Company has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. New and amended standards and interpretations not yet adopted Certain new accounting standards and interpretations have been published that are not mandatory for the reporting period ended December 31, 2021 and have not been early adopted by the Company. Standards, interpretations and amendments published by the IASB that will be effective for periods beginning on or after January 1, 2022: ● IFRS 17 Insurance Contracts (issued on 18 May 2017); including Amendments to IFRS 17 (issued on June 2020) ● Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current and Classification of Liabilities as Current or Non-current - Deferral of Effective Date (issued on January 2020 and July 2020 respectively) ● Amendments to; IFRS 3 Business Combinations; IAS 16 Property, Plant and Equipment; IAS 37 Provisions, Contingent Liabilities and Contingent Assets; and Annual Improvements 2018-2020 ● Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (issued on February 2021) ● Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (issued on February 2021) ● Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (issued on May 2021) ● Amendments to initial application of IFRS 17 and IFRS 9: Comparative information (issued on December 2021) None of these standards or interpretations that are not yet effective are expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions. 3.3 Currency Until September 30, 2021, the Parent’s functional currency was the Euro. Due to an occurrence of events and conditions that reduce the number of transactions in euros, and in accordance with International Financial Reporting Standards, management conducted a review of the functional currency of Ferroglobe PLC and they concluded that there has been a change in its functional currency from Euro to U.S. Dollars, effective since October 1, 2021. Ferroglobe PLC is the parent company of Ferroglobe Group and its main assets and liabilities relate to intercompany transactions. Due to the new group structure, PLC has signed an agreement in which they agreed to convert all intercompany receivables and payables outstanding into US Dollars.. Additionally, PLC financing instruments (debt and equity instruments) are U.S. Dollars denominated. The change in functional currency was implemented prospectively starting October 1, 2021. To give effect to this change, balances of the parent company as of October, 1, 2021 have been translated to USD in accordance with IAS 21 “The effect of changes in foreign exchange rates”. The functional currencies of subsidiaries are determined by the primary economic environment in which each subsidiary operates. The reporting currency of the Company is U.S. Dollars and as such the accompanying results and financial position have been translated pursuant to the provisions indicated in IAS 21. All differences arising from the aforementioned translation are recognized in equity under “Translation differences.” Upon the disposal of a foreign operation, the translation differences relating to that operation deferred as a separate component of consolidated equity are recognized in the consolidated income statement when the gain or loss on disposal is recognized. 3.4 Responsibility for the information and use of estimates The information in these consolidated financial statements is the responsibility of Ferroglobe’s Management. Certain assumptions and estimates were made by management in the preparation of these consolidated financial statements, including: ● The impairment losses on goodwill, see Note 7; ● the assumptions taken over forecast recovery in trading activity and cash liquidity management that mitigates any substantial doubt as to the Company’s ability to continue as a going concern, see Note 3.1; ● the useful life of property, plant and equipment and intangible assets, see Note 4.3; ● the fair value valuation of the plants, impairment losses on property, plant and equipment and intangible assets, determined by value in use or by fair value less cost of disposal methods, see Note 9; ● the fair value of certain unquoted financial assets, see Note 10; ● the fair value of financial instruments, see Note 29; ● the assumptions used in the actuarial calculation of pension liabilities, see Note 15; ● the discount rate used to calculate the present value of certain collection rights and payment obligations, see Note 15; ● provisions for contingencies and environmental liabilities, see Note 25; The Company based its estimates and judgments on historical experience, known or expected trends and other factors that are believed to be reasonable under the circumstances. Actual results may differ materially from these estimates. Changes in accounting estimates are applied in accordance with IAS 8. At the date of preparation of these consolidated financial statements no events had taken place that might constitute a significant source of uncertainty regarding the accounting effect that such events might have in future reporting periods. 3.5 Critical accounting judgements and key sources of estimation uncertainty In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Critical judgements in applying the Company's accounting policies The following are the critical judgements, apart from those involving estimations (which are dealt with separately below), that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognized in financial statements. Fair value measurement of financial instruments Certain of the Company's financial instruments are classified as Level 3 as they include unobservable inputs. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: in the principal market for the asset or liability; or in the absence of a principal market, in the most advantageous market for the asset or liability. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. For those assets and liabilities measured at fair value at the balance sheet date, further information on fair value measurement is provided in Note 29. Going concern As required by the accounting rules, the Company performs an analysis to assess the Company’s ability to continue as a going concern. In this analysis, management makes certain estimates. To assess the liquidity risk the Company has defined a financial model which considers the revenues, expenditures, cash flows, net tax payments, capital expenditures and net working capital requirements. The financial projections to determine future cash flows are modelled considering the principal variables that determine the historic flows at a Group level including prices, volumes, costs, capital expenditures and net working capital. These projections are based on the 2022 annual budget and management’s five-year financial model. Debt restructuring As described in Note 18, on July 29, 2021 the Company completed a restructuring of its capital and debt. To determine the accounting for this transaction, management considered the criteria for derecognition of financial liabilities set out in IFRS 9 Financial Instruments and the guidance in IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments. Judgement was required to determine if the exchange of the Old Notes by the Reinstated Notes is a substantial modification of the debt, including what fees and transaction costs should be included in the quantitative test (the so called “10 per cent test¨) and to determine the accounting for fees and transaction costs related to the issuance of the new bonds and equity. We concluded that the exchange was a substantial modification and therefore it was accounted for as an extinguishment of the old debt. See Notes 4.5 and 18 for further details. Impairment of assets The Company’s evaluation of goodwill and PP&E for impairment involves the comparison of the carrying amounts of assets with their recoverable amount. The determination of the recoverable amount requires significant judgement in developing and applying key underlying assumptions concerning future market and conditions (volumes, sale prices, cost structure and capital expenditure - “capex”) for the periods projected, as well as the determination of an appropriate discount rate and terminal value. For certain assets, recoverable amount has been determined at fair value less cost of disposal, which determination is subject to significant judgement. Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimating uncertainty at the reporting period that may have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year, are discussed below. Impairment of assets The Company reviews the carrying value of assets on a periodic basis, and whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Such circumstances or events could include: a pattern of losses involving the asset; a decline in the market value for the asset; and an adverse change in the business or market in which the asset is involved. Determining whether an impairment has occurred typically requires various estimates and assumptions, including determining which cash flows are directly related to the potentially impaired asset, the useful life over which cash flows will occur, their amount and the asset’s residual value, if any. Estimates of future cash flows and the selection of appropriate discount rates relating to particular assets or groups of assets involve the exercise of a significant amount of judgement. The key assumptions for the value in use calculation are those regarding the discount rate, growth rate, and cash flows. Cash flow projections are based on the Company’s five year internal forecast. Estimates of selling prices and direct costs are based on past experience, expectations of future changes in the market and historic trends. Sensitivities are disclosed in Note 7 of the Consolidated Financial Statements. 3.6 Basis of consolidation The financial statements of the subsidiaries are fully consolidated with those of the Parent. Accordingly, intercompany balances and transactions, including income, expenses and dividends, are eliminated in the consolidated financial statements. Gains and losses resulting from intercompany transactions are also eliminated. Non-controlling interests are presented in “Equity – Non-controlling interests” in the consolidated statement of financial position, separately from the consolidated equity attributable to the Parent. The share of non-controlling interests in the profit or loss for the year is presented under “Loss attributable to non-controlling interests” in the consolidated income statement. When necessary, adjustments are made to the financial statements of subsidiaries to align the accounting policies used to the accounting policies of the Company.

Accounting policies

Accounting policies	12 Months Ended
Accounting policies	Dec. 31, 2021
Disclosure of initial application of standards or interpretations [abstract]
Accounting policies	4. Accounting policies The principal IFRS accounting policies applied in preparing these consolidated financial statements were in effect at the date of preparation are described below. 4.1 Goodwill Goodwill arising on consolidation represents the excess of the cost of acquisition over the Company’s interest in the fair value of the identifiable assets and liabilities of a subsidiary at the date of acquisition. On disposal of a subsidiary, the attributable amount of goodwill is included in the determination of the gain or loss on disposal. 4.2 Other intangible assets Other intangible assets are assets without physical substance which can be individually identified either because they are separable or because they arise as a result of a legal or contractual right or of a legal transaction or were developed by the consolidated companies. Only intangible assets whose value can be measured reliably and from which the Company expects to obtain future economic benefits are recognized in the consolidated statement of financial position. Intangible assets are recognized initially at acquisition cost. The aforementioned cost is amortized systematically over each asset’s useful life. At each reporting date, these assets are measured at acquisition cost less accumulated amortization and any accumulated impairment losses, if any. The Company reviews amortization periods and amortization methods for finite-lived intangible assets at the end of each fiscal year. The Company’s main intangible assets are as follows: Development expenditures Development expenditures are capitalized if they meet the requirements of identifiability, reliability in cost measurement and high probability that the assets created will generate economic benefits. Developmental expenditures are amortized on a straight-line basis over the useful lives of the assets, which are between four Expenditures on research activities are recognized as expenses in the years in which they are incurred. Power supply agreements Power supply agreements at rates below market acquired in business combinations are amortized on a straight-line basis over the term in which the agreement is effective. Rights of use Rights of use granted are amortized on a straight-line basis over the term in which the right of use was granted from the date it is considered that use commenced. Rights of use are generally amortized over a period ranging from 10 Computer software Computer software includes the costs incurred in acquiring or developing computer software, including the related installation. Computer software is amortized on a straight-line basis over two Computer system maintenance costs are recognized as expenses in the years in which they are incurred. Other intangible assets Other intangible assets include: ● Supply agreements which are amortized in accordance with their estimated useful lives (see Note 8). ● CO 2 emissions allowances (“rights held emit greenhouse gasses”) which are not amortized, but rather are expensed when used (see Note 4.22). 4.3 Property, plant and equipment Cost Property, plant and equipment for our own use are initially recognized at acquisition or production cost and are subsequently measured at acquisition or production cost less accumulated depreciation and any accumulated impairment losses. When the construction and start-up of non-current assets require a substantial period of time, the borrowing costs incurred over that period are capitalized. In 2021, 2020 and 2019 no material borrowing cost were capitalized. The costs of expansion, modernization or improvements leading to increased productivity, capacity or efficiency or to a lengthening of the useful lives of the assets are capitalized. Repair, upkeep and maintenance expenses are recognized in the consolidated income statement for the year in which they are incurred. Mineral reserves are recorded at fair value at the date of acquisition. Depletion of mineral reserves is computed using the units-of-production method utilizing only proven and probable reserves (as adjusted for recoverability factors) in the depletion base. Property, plant and equipment in the course of construction are transferred to property, plant and equipment in use at the end of the related development period. Depreciation The Company depreciates property, plant and equipment using the straight-line method at annual rates based on the following years of estimated useful life: Years of Estimated Useful Life Properties for own use 25-50 Plant and machinery 8-20 Tools 12.5-15 Furniture and fixtures 10-15 Computer hardware 4-8 Transport equipment 10-15 Land included within property, plant and equipment is considered to be an asset with an indefinite useful life and, as such, is not depreciated, but rather it is tested for impairment annually. The Company reviews residual value, useful lives, and the depreciation method for property, plant and equipment annually. Environment The costs arising from the activities aimed at protecting and improving the environment are accounted for as an expense for the year in which they are incurred. When they represent additions to property, plant and equipment aimed at minimizing the environmental impact and protecting and enhancing the environment, they are capitalized to non-current assets. 4.4 Impairment of property, plant and equipment, intangible assets and goodwill In order to ascertain whether its assets have become impaired, the Company compares their carrying amount with their recoverable amount; goodwill - the CGU been tested for impairment annually, and whenever there is an indication of impairment and property, plant and equipment and other - whenever there is an indication of impairment. Where the asset itself does not generate cash flows that are independent from other assets, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of: ● Fair value less costs of disposal: the price that would be agreed upon by two independent parties, less estimated costs to sell, and ● Value in use: the present value of the future cash flows that are expected to be derived from continuing use of the asset and from its ultimate disposal at the end of its useful life, discounted at a rate which reflects the time value of money and the risks specific to the business to which the asset belongs. If the recoverable amount of an asset (or cash-generating unit) is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount, and an impairment loss is recognized as an expense under “Impairment losses” in the consolidated income statement. Where an impairment loss subsequently reverses (not permitted in the case of goodwill), the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. A reversal of an impairment loss is recognized as “Impairment (loss)/gain” in the consolidated income statement. The basis for depreciation is the carrying amount of the assets, deemed to be the acquisition cost less any accumulated impairment losses. 4.5 Financial instruments Financial assets and financial liabilities are recognized in the Company’s statement of financial position when the Company becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Financial assets From January 1, 2018, the Company classifies its financial assets into the following categories: those to be measured subsequently at fair value (either through other comprehensive income or through profit or loss) and those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. Financial assets measured at amortized cost Financial assets are classified as measured at amortized cost when they are held in a business model whose objective is to collect contractual cash flows and the contractual terms of the financial asset give rise on specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Such assets are carried at amortized cost using the effective interest method if the time value of money is significant. Gains and losses are recognized in profit or loss when the assets are derecognized or impaired and when interest is recognized using the effective interest method. This category of financial assets includes trade receivables, receivables from related parties and cash and cash equivalents. Financial assets measured at fair value through other comprehensive income Debt instruments are classified as measured at fair value through other comprehensive income when they are held in a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All movements in the fair value of these financial assets are taken through other comprehensive income, except for the recognition of impairment gains or losses, interest income calculated using the effective interest method and foreign exchange gains and losses. When the financial asset is derecognized, the cumulative fair value gain or loss previously recognized in other comprehensive income is reclassified to the income statement. Equity instruments are classified as measured at fair value through other comprehensive income if, on initial recognition, the Company makes an irrevocable election to designate the instrument as at fair value through other comprehensive income. The election is made on an instrument-by-instrument basis and is not permitted if the equity investment is held for trading. Fair value gains or losses on revaluation of such equity investments are recognized in other comprehensive income and accumulated in the valuation adjustments reserve. When the equity investment is derecognized, there is no reclassification of fair value gains or losses previously recognized in other comprehensive income to the income statement. Dividends are recognized in the income statement when the right to receive payment is established. Financial assets measured at fair value through profit or loss Financial assets are classified as measured at fair value through profit or loss when the asset does not meet the criteria to be measured at amortized cost or at fair value through other comprehensive income. Such assets are carried on the balance sheet at fair value with gains or losses recognized in the income statement. Derecognition of financial assets The Company derecognizes a financial asset when: - the rights to receive cash flows from the asset have expired; or - the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. On derecognition of a financial asset in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. If the Company retains substantially all of the risks and rewards of ownership of a transferred financial asset, the Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. Impairment of financial assets The expected credit loss model is applied for recognition and measurement of impairments in financial assets measured at amortized cost and debt instruments held at fair value through other comprehensive income. The loss allowance for the financial asset is measured at an amount equal to the 12-month expected credit losses. If the credit risk on the financial asset has increased significantly since initial recognition, the loss allowance for the financial asset is measured at an amount equal to the lifetime expected credit losses. Changes in loss allowances are recognized in profit and loss. For trade receivables, a simplified impairment approach is applied recognizing expected lifetime losses from initial recognition. For this purpose, the Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Company writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over two years past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Company’s recovery procedures, considering legal advice where appropriate. Any recoveries made are recognized in profit or loss. Financial liabilities The subsequent measurement of financial liabilities depends on their classification, as described below: Financial liabilities measured at fair value through profit or loss Financial liabilities that meet the definition of held for trading are classified as measured at fair value through profit or loss. Such liabilities are carried on the balance sheet at fair value with gains or losses recognized in the income statement. This category includes contingent consideration and derivatives, other than those designated as hedging instruments in an effective hedge. Financial liabilities measured at amortized cost This is the category most relevant to the Company and comprises all other financial liabilities, including bank borrowings, debt instruments, financial loans from government agencies, payables to related parties and trade and other payables. After initial recognition, other financial liabilities are subsequently measured at amortized cost using the effective interest method. Amortized cost is calculated by considering any issue costs and any discount or premium on settlement. Derecognition of financial liabilities The Company derecognizes financial liabilities when, and only when, the Company’s obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. When the Company exchanges with the existing lender one debt instrument into another one with substantially different terms, such exchange is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, the Company accounts for substantial modification of terms of an existing liability or part of it as an extinguishment of the original financial liability and the recognition of a new liability. It is assumed that the terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective rate is at least 10 per cent different from the discounted present value of the remaining cash flows of the original financial liability. If the modification is not substantial, the difference between the carrying amount of the liability before the modification and the present value of the cash flows after modification are recognized in profit or loss as a modification gain or loss. 4.6 Derivative financial instruments and hedging activities In order to mitigate the economic effects of exchange rate and interest rate fluctuations to which it is exposed as a result of its business activities, the Company uses derivative financial instruments, such as cross currency swaps and interest rate swaps. The Company’s derivative financial instruments are set out in Note 19 to these consolidated financial statements and the Company’s financial risk management policies are set out in Note 28. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each balance sheet date. The resulting gain or loss is recognized in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition of profit or loss depends on the nature of the hedge relationship. The gain or loss recognized in respect of derivatives that are not designated and effective as a hedging instrument is recognized in the consolidated income statement in the line item financial derivative gain (loss). A derivative with a positive fair value is recognized as a financial asset within the line item other financial assets whereas a derivative with a negative fair value is recognized as a financial liability within the line item other financial liabilities. A derivative is presented as a non-current asset or non-current liability if the remaining maturity of the instrument is more than 12 months and it is not expected to be realized or settled within 12 months. Hedge accounting The Company designates certain derivatives as cash flow hedges. For further details, see Note At the inception of the hedge relationship, the Company documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking the hedge transaction. Furthermore, at the inception of the hedge and on an ongoing basis, the Company documents whether the hedging instrument is effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income. The gain or loss relating to any ineffective portion is recognized immediately in profit or loss and is included in the financial derivative gain (loss) line item. Amounts previously recognized in other comprehensive income and accumulated in equity in the valuation adjustments reserve are reclassified to profit or loss in the periods when the hedged item is recognized in profit or loss, in the same line of the income statement as the recognized hedged item. Hedge accounting is discontinued when the Company revokes the hedging relationship, the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. Any gain or loss recognized in other comprehensive income at that time is accumulated in equity and is recognized when the forecast transaction is ultimately recognized in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss. 4.7 Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: in the principal market for the asset or liability; or in the absence of a principal market, in the most advantageous market for the asset or liability. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: ● Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities. ● Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. ● Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. For those assets and liabilities measured at fair value at the balance sheet date, further information on fair value measurement is provided in Note 29. 4.8 Inventories Inventories comprise assets (goods) which: ● Are held for sale in the ordinary course of business (finished goods); or ● Are in the process of production for such sale (work in progress); or ● Will be consumed in the production process or in the rendering of services (raw materials and spare parts). Inventories are stated at the lower of acquisition or production cost and net realizable value. The cost of each inventory item is generally calculated as follows: ● Raw materials, spare parts and other consumables and replacement parts: the lower of weighted average acquisition cost and net realizable value. ● Work in progress, finished goods and semi-finished goods: the lower of production cost (which includes the cost of materials, labor costs, direct and indirect manufacturing expenses) or net realizable value in the market. Obsolete, defective or slow-moving inventories have been reduced to net realizable value. Net realizable value is the estimated selling price less all the estimated costs of selling and distribution. The amount of any write-down of inventories (as a result of damage, obsolescence or decrease in the selling price) to their net realizable value and all losses of inventories are recognized as expenses in the year in which the write-down or loss occurs. Any subsequent reversals are recognized as income in the year in which they arise. The consumption of inventories is recognized as an expense in “Raw Materials and energy consumption for production” in the consolidated income statement in the period in which the revenue from their sale is recognized. 4.9 Raw materials and energy consumption for production Raw materials and energy consumption for production comprise raw materials, energy, other direct costs and changes in inventory. 4.10 Cash and cash equivalents The Company classifies under “Cash and cash equivalents” any liquid financial assets, such as for example cash on hand and at banks, deposits and liquid investments, that can be converted into known amounts of cash within three months and are subject to an insignificant risk of changes in value. 4.11 Restricted cash and cash equivalents The Company classifies under “restricted cash and cash equivalents” any liquid financial assets, which meet the definition of cash and cash equivalents but the use is resticted by financial agreements. 4.12 Provisions and contingencies When preparing the consolidated financial statements, the Parent’s directors made a distinction between: ● Provisions: present obligations, either legal, contractual, constructive or assumed by the Company, arising from past events, the settlement of which is expected to give rise to an outflow of economic benefits the amount or timing of which are uncertain; and ● Contingent liabilities: possible obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more future events not wholly within the control of the Company, or present obligations arising from past events the amount of which cannot be estimated reliably or whose settlement is not likely to give rise to an outflow of economic benefits. ● Contingent assets: possible assets that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. The consolidated financial statements include all the material provisions with respect to which it is considered that it is probable that the obligation will have to be settled. Contingent liabilities are not recognized in the consolidated financial statements, but rather are disclosed, as required by IAS 37 (see Note Provisions are classified as current or non-current based on the estimated period of time in which the obligations covered by them will have to be met. They are recognized when the liability or obligation giving rise to the indemnity or payment arises, to the extent that its amount can be estimated reliably. “Provisions” includes the provisions for pension and similar obligations assumed; provisions for contingencies and charges, such as for example those of an environmental nature and those arising from litigation in progress or from outstanding indemnity payments or obligations, and collateral and other similar guarantees provided by the Company; and provisions for medium- and long- term employee incentives. Contingent assets are not recognized, but are disclosed where an inflow of economic benefits is probable. If it has become virtually certain that an inflow of economic benefits will arise, the asset and the related income are recognized in the financial statements in the period in which the change occurs. Defined contribution plans Certain employees have defined contribution plans which conform to the Spanish Pension Plans and Funds Law. The main features of these plans are as follows: ● They are mixed plans covering the benefits for retirement, disability and death of the participants. ● The sponsor undertakes to make monthly contributions of certain percentages of current employees’ salaries to external pension funds. The annual cost of these plans is recognized under Staff costs in the consolidated income statement. Defined benefit plans IAS 19, Employee Benefits requires defined benefit plans to be accounted for: ● Using actuarial techniques to make a reliable estimate of the amount of benefits that employees have earned in return for their service in the current and prior periods. ● Discounting those benefits in order to determine the present value of the obligation. ● Determining the fair value of any plan assets. ● Determining the total amount of actuarial gains and losses and the amount of those actuarial gains and losses that must be recognized. The amount recognized as a benefit liability arising from a defined benefit plan is the total net sum of: ● The present value of the obligations. ● Minus the fair value of plan assets (if any) out of which the obligations are to be settled directly. The Company recognizes provisions for these benefits as the related rights vest and on the basis of actuarial studies. These amounts are recognized under “Provisions” in the consolidated statement of financial position, on the basis of their expected due payment dates. All plan assets are separately held from the rest of the Company’s assets. Environmental provisions Provisions for environmental obligations are estimated by analyzing each case separately and observing the relevant legal provisions. The best possible estimate is made on the basis of the information available and a provision is recognized provided that the aforementioned information suggests that it is probable that the loss or expense will arise and it can be estimated in a sufficiently reliable manner. The balance of provisions and disclosures disclosed in Notes 15 and 24 reflects management’s best estimation of the potential exposure as of the date of preparation of these financial statements. 4.13 Leases The Company assesses if a contract is or contains a lease at inception of the contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company recognizes a right-of-use asset and a lease liability at the commencement date. The lease liability is initially measured at the present value of the minimum future lease payments, discounted using the interest rate implicit in the lease, or, if not readily determinable, the incremental borrowing rate. Lease payments include fixed payments, variable payments that depend on an index or rate, as well as any extension or purchase options, if the Company is reasonably certain to exercise these options. The lease liability is subsequently measured at amortized cost using the effective interest method and remeasured with a corresponding adjustment to the related right-of-use asset when there is a change in future lease payments. The right-of-use asset comprises, at inception, the initial lease liability, any initial direct costs and, when applicable, the obligations to refurbish the asset, less any incentives granted by the lessors. The right-of-use asset is subsequently depreciated, on a straight-line basis, over the lease term or, if the lease transfers the ownership of the underlying asset to the Company at the end of the lease term or, if the cost of the right-of-use asset reflects that the lessee will exercise a purchase option, over the estimated useful life of the underlying asset. Right-of-use assets are also subject to testing for impairment if there is an indicator for impairment. Variable lease payments not included in the measurement of the lease liabilities are expensed to the consolidated income statement in the period in which the events or conditions which trigger those payments occur. In the statement of financial position, right-of-use assets and lease liabilities are classified, respectively, as part of property, plant and equipment and current and non-current lease liabilities. 4.14 Current assets and liabilities In general, assets and liabilities are classified as current or non-current based on the Company’s operating cycle. However, in view of the diverse nature of the activities carried on by the Company, in which the duration of the operating cycle differs from one activity to the next, in general assets and liabilities expected to be settled or fall due within twelve months from the end of the reporting period are classified as current items and those which fall due or will be settled within more than twelve months are classified as non-current items. 4.15 Income taxes Income tax expense represents the sum of current tax and deferred tax. Income tax is recognized in the income statement except to the extent that it relates to items recognized in other comprehensive income or directly in equity, in which case the related tax is recognized in other comprehensive income or directly in equity. The current income tax expense is based on domestic and international statutory income tax rates in the tax jurisdictions where the Company operates related to taxable profit for the period. The taxable profit differs from net profit as reported in the income statement because it is determined in accordance with the rules established by the applicable tax authorities which includes temporary differences, permanent differences, and available credits and incentives. The Company’s deferred tax assets and liabilities are provided on temporary differences at the balance sheet date between financial reporting and the tax basis of assets and liabilities, then applying enacted tax rates expected to be in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized for deductible temporary differences, carry-forward of unused tax credits and losses, to the extent that it is pro

Business Combinations

Business Combinations	12 Months Ended
Business Combinations	Dec. 31, 2021
Disclosure of detailed information about business combination [abstract]
Business Combinations	5. Business Combinations Business combinations are accounted for using the acquisition method. The identifiable assets acquired and liabilities assumed are recognized at their fair values at the acquisition date. Acquisition costs are recognized in profit or loss as incurred. Goodwill is initially measured as the excess of the aggregate of the consideration transferred, the amount recognized for any non-controlling interest and the acquisition-date fair values of any previously held interest in the acquiree over the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date. If, after reassessment, the net of the acquisition date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the excess is recognized immediately in profit or loss as a bargain purchase gain. When the consideration transferred by the Company in a business combination includes an asset or liability resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration that is classified as an asset or a liability is remeasured at subsequent reporting dates at fair value with the corresponding gain or loss being recognized in profit or loss. Changes in fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the ‘measurement period’ (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date. Ferroglobe has not recorded any business combination in 2021 and 2020.

Segment reporting

Segment reporting	12 Months Ended
Segment reporting	Dec. 31, 2021
Disclosure of operating segments [abstract]
Segment reporting	6. Segment reporting Operating segments are based upon the Company’s management reporting structure. During 2021, the Company has revised its operating segments to reflect the way its Chief Operating Decision Maker (“CODM”) is currently managing the business. Our revised organizational structure includes the following six operating segments: ● Canada – Silicon Metals ● US – Silicon Metals & Silicon Alloys ● Europe – Manganese Alloys ● Europe – Silicon Metals & Silicon Alloys, and ● South Africa – Silicon Alloys ● Other segments The operating segments described above are those components whose operating results are regularly reviewed by the entity’s Chief Operating Decision Maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. This is due to the integrated operations within each region and product family and the ability to reallocate production based on the individual capacity of each plant. Additionally, economic factors that may impact our results of operations, such as currency fluctuations and energy costs, are also assessed at a region and product level. The Company’s North America- Silicon reportable segment is the result of the aggregation of the operating segments of the United States and Canada Silicon Metals & Silicon Alloys. These operating segments have been aggregated as they have similar long-term economic characteristics and there is similarity of competitive and operating risks and the political environment in the United States and Canada. The Europe-Silicon, the Europe -Manganese and South Africa – Silicon reportable segments are equal to each related Operating segment. All other segments that do not meet the quantitative threshold for separate reporting have been grouped as “Other segments”. The consolidated income statements at December 31, 2021, 2020 and 2019, by reportable segment, are as follows: 2021 North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Sales 524,808 476,287 665,337 117,195 43,568 (48,287) 1,778,908 Raw materials and energy consumption for production (323,316) (326,257) (473,884) (76,617) (33,445) 48,623 (1,184,896) Other operating income 5,385 34,142 65,752 763 49,901 (45,858) 110,085 Staff costs (82,463) (33,696) (120,287) (13,268) (31,203) — (280,917) Other operating expense (43,070) (105,290) (128,755) (13,256) (51,960) 45,522 (296,809) Depreciation and amortization charges, operating allowances and write-downs (55,770) (18,634) (16,852) (5,081) (991) — (97,328) Impairment (loss) gain — (376) (441) 2,684 (1,730) — 137 Net gain due to changes in the value of assets — — — — 758 — 758 (Loss) gain on disposal of non-current assets 394 — 1,029 — (37) — 1,386 Other (loss) gain — — (1) — 63 — 62 Operating (loss) profit 25,968 26,176 (8,102) 12,420 (25,076) — 31,386 Finance income 258 8,516 2,540 244 31,303 (42,608) 253 Finance costs (1,063) (25,544) (7,162) (5,693) (152,335) 42,608 (149,189) Exchange differences 807 2,160 (263) 135 (5,225) — (2,386) (Loss) Profit before tax 25,970 11,308 (12,987) 7,106 (151,333) — (119,936) Income tax (expense) benefit (5,331) (3,674) 7,463 (692) 6,796 — 4,562 (Loss) profit for the year 20,639 7,634 (5,524) 6,414 (144,537) — (115,374) Attributable to the Parent 24,755 7,634 (5,509) 6,821 (144,325) — (110,624) Attributable to non-controlling interests (4,116) — (15) (407) (212) — (4,750) () The amounts correspond to transactions between segments that are eliminated in the consolidation process. 2020() North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Sales 425,277 240,142 467,728 80,572 25,334 (94,619) 1,144,434 Raw materials and energy consumption for production (280,858) (204,063) (369,130) (56,062) (19,518) 94,145 (835,486) Other operating income 2,916 9,199 25,049 131 24,587 (28,255) 33,627 Staff costs (73,988) (28,337) (84,300) (11,013) (17,144) — (214,782) Other operating expense (34,315) (33,884) (51,812) (14,098) (26,679) 28,729 (132,059) Depreciation and amortization charges, operating allowances and write-downs (61,664) (19,086) (19,252) (7,141) (1,046) — (108,189) Impairment (loss) gain (35,685) 305 (17,941) (8,677) (11,346) — (73,344) Net gain due to changes in the value of assets — — — — 158 — 158 (Loss) gain on disposal of non-current assets (869) 1,154 1,002 — 5 — 1,292 Other (loss) gain — 4 — — (5) — (1) Operating (loss) (59,186) (34,566) (48,656) (16,288) (25,654) — (184,350) Finance income 679 7,122 2,338 90 11,220 (21,272) 177 Finance costs (857) (22,267) (10,325) (3,796) (50,995) 21,272 (66,968) Financial derivative gain — — — — 3,168 — 3,168 Exchange differences (485) (3,508) (1,226) (1,405) 32,177 — 25,553 (Loss) before tax (59,849) (53,219) (57,869) (21,399) (30,084) — (222,420) Income tax (expense) benefit 14,213 (19,797) (14,446) (1,049) (860) — (21,939) (Loss) for the year from continuing operations (45,636) (73,016) (72,315) (22,448) (30,944) — (244,359) (Loss) for the year from discontinued operations — (5,399) — — — (5,399) (Loss) for the year (45,636) (78,415) (72,315) (22,448) (30,944) — (249,758) Attributable to the Parent (42,603) (79,482) (71,243) (22,206) (30,805) — (246,339) Attributable to non-controlling interests (3,033) — (5) (242) (139) — (3,419) () Our operating segments have been revised in 2021 to reflect the way its chief operating decision maker (“CODM”) is currently managing and viewing the business. Accordingly, the results of 2020 and 2019 have been restated to report results according to the operating segments revised in 2021. (*) The amounts correspond to transactions between segments that are eliminated in the consolidation process. 2019() North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations (*) Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Sales 551,500 564,060 593,907 136,292 43,147 (273,684) 1,615,222 Raw materials and energy consumption for production (366,711) (502,919) (474,993) (108,823) (35,939) 274,988 (1,214,397) Other operating income 10,418 12,828 39,001 1,323 27,144 (36,501) 54,213 Staff costs (87,954) (32,133) (106,681) (20,333) (37,928) — (285,029) Other operating expense (60,105) (64,851) (83,917) (19,457) (32,572) 35,197 (225,705) Depreciation and amortization charges, operating allowances and write-downs (72,251) (19,904) (19,667) (6,459) (1,913) — (120,194) Impairment (loss) gain (174,013) 12 (1) — (1,897) — (175,899) Net (loss) due to changes in the value of assets — — — (530) (1,044) — (1,574) (Loss) gain on disposal of non-current assets (1,601) — 181 — (803) — (2,223) Operating (loss) (200,717) (42,907) (52,170) (17,987) (41,805) — (355,586) Finance income 529 8,999 2,074 156 17,690 (28,068) 1,380 Finance costs (3,914) (19,722) (5,626) (4,507) (57,524) 28,068 (63,225) Financial derivative gain — — — — 2,729 — 2,729 Exchange differences (407) 2,812 1,161 (1,179) 497 — 2,884 (Loss) before tax (204,509) (50,818) (54,561) (23,517) (78,413) — (411,818) Income tax benefit (expense) 8,520 9,258 12,782 7,761 3,220 — 41,541 (Loss) for the year from continuing operations (195,989) (41,560) (41,779) (15,756) (75,193) — (370,277) Profit for the year from discontinued operations — — 3,280 — 81,357 — 84,637 Profit (loss) for the year (195,989) (41,560) (38,499) (15,756) 6,164 — (285,640) Attributable to the Parent (190,866) (41,560) (38,499) (16,124) 6,448 — (280,601) Attributable to non-controlling interests (5,123) — — 368 (284) — (5,039) () Our operating segments have been revised in 2021 to reflect the way its chief operating decision maker (“CODM”) is currently managing and viewing the business. Accordingly, the results of 2020 and 2019 have been restated to report results according to the operating segments revised in 2021. (*) The amounts correspond to transactions between segments that are eliminated in the consolidation process. The consolidated statements of financial position at December 31, 2021 and 2020, by reportable segment are as follows: 2021 Consolidation North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Goodwill 29,702 — — — — — 29,702 Other intangible assets 4,015 40,318 54,463 1,165 681 — 100,642 Property, plant and equipment 324,210 69,283 87,547 35,830 38,044 — 554,914 Inventories 56,318 77,425 121,813 21,008 13,233 — 289,797 Trade and other receivables () 867,128 487,731 319,805 51,734 1,233,809 (2,574,594) 385,613 Cash, restricted cash and cash equivalents 61,032 32,139 10,660 6,787 6,045 — 116,663 Other (4,420) 3,810 18,018 1,909 26,690 — 46,007 Total assets 1,337,985 710,706 612,306 118,433 1,318,502 (2,574,594) 1,523,338 Equity 438,915 86,234 150,320 21,048 (376,486) — 320,031 Provisions 21,458 42,428 128,144 6,163 390 — 198,583 Bank borrowings — 29,972 67,749 — 1,246 — 98,967 Obligations under finance leases 6,334 11,457 — 24 543 — 18,358 Debt instruments — — — — 440,297 — 440,297 Other financial liabilities 4,033 153 — — 62,827 — 67,013 Trade and other payables () 813,676 550,695 186,493 87,687 1,195,016 (2,618,022) 215,545 Other 53,569 (10,233) 79,600 3,511 (5,331) 43,428 164,544 Total equity and liabilities 1,337,985 710,706 612,306 118,433 1,318,502 (2,574,594) 1,523,338 2020() Consolidation North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Goodwill 29,702 — — — — — 29,702 Other intangible assets 14,604 1,790 1,841 1,265 1,256 — 20,756 Property, plant and equipment 353,145 88,883 101,391 37,526 39,089 — 620,034 Inventories 63,765 62,243 90,434 20,375 9,732 — 246,549 Trade and other receivables () 609,456 413,115 280,519 43,121 1,001,306 (2,099,725) 247,792 Cash, restricted cash and cash equivalents 48,127 34,335 13,684 2,777 32,634 — 131,557 Other (37,007) 14,546 16,267 9,808 47,141 — 50,755 Total assets 1,081,792 614,912 504,136 114,872 1,131,158 (2,099,725) 1,347,145 Equity 412,729 13,998 169,850 17,856 (248,714) — 365,719 Provisions 33,812 45,609 74,804 5,956 3,602 — 163,783 Bank borrowings — 23,216 56,905 — 27,486 — 107,607 Obligations under finance leases 4,260 17,403 — 318 555 — 22,536 Debt instruments — — — — 357,508 — 357,508 Other financial liabilities 3,140 331 — — 60,425 — 63,896 Trade and other payables (**) 615,690 500,813 183,123 78,807 915,381 (2,141,417) 152,397 Other 12,161 13,543 19,453 11,935 14,915 41,692 113,699 Total equity and liabilities 1,081,792 614,913 504,135 114,872 1,131,158 (2,099,725) 1,347,145 () Our operating segments have been revised in 2021 to reflect the way its chief operating decision maker (“CODM”) is currently managing and viewing the business. Accordingly, the results of 2020 have been restated to report results according to the operating segments revised in 2021. () These amounts correspond to balances between segments that are eliminated at consolidation . () Trade and other receivables includes non-current and current receivables from group that eliminated in the consolidated process. (***) Trade and other payables includes non-current and current payables from group that are eliminated in the consolidated process. Other disclosures Sales by product line Sales by product line are as follows: 2021 2020 2019 US$'000 US$'000 US$'000 Silicon metal 637,695 463,217 539,872 Manganese-based alloys 469,138 267,469 447,311 Ferrosilicon 337,833 176,447 275,368 Other silicon-based alloys 161,750 126,817 181,736 Silica fume 32,409 25,888 33,540 Other 140,083 84,596 137,395 Total 1,778,908 1,144,434 1,615,222 Information about major customers Total sales of $870,039 thousand, $580,570 thousand, and $643,689 thousand were attributable to the Company’s top ten customers in 2021, 2020, and 2019 respectively. During 2021 and 2020, sales corresponding to Dow Silicones Corporation represented 12.2% and 13.2% respectively of the Company’s sales. Sales to Dow Silicones Corporation are included partially in the North America - Silicon segment and partially in the Europe - Silicon segment. During 2019, there was no single customer representing greater than 10% of the Company’s sales. Capital expenditures by reporting segment Year Ended December 31, 2021 2020 2019 US$´000 US$´000 US$´000 North America - Silicon 15,579 17,420 7,226 Europe Silicon 4,328 1,334 11,001 Europe Manganese 6,947 4,034 5,146 South Africa Silicon 3,611 2,308 3,492 Other Segments 2,944 1,963 7,175 Total 33,409 27,059 34,040 Non current assets by geographical area The non-current assets (as defined in IFRS 8) attributable to the country of domicile and all foreign countries of operation are as follows: Year ended December 31, 2021 2020 US$´000 US$´000 United States of America 230,356 227,539 Europe Spain 146,405 145,019 France 138,842 90,543 Other EU Countries 71,612 72,313 Total non-current assets in Europe 356,859 307,875 Rest of the World 124,839 154,493 Total 712,054 689,907

Goodwill

Goodwill	12 Months Ended
Goodwill	Dec. 31, 2021
Disclosure of reconciliation of changes in goodwill [abstract]
Goodwill	7. Goodwill Changes in the carrying amount of goodwill during the years ended December 31, are as follows: January 1, Impairment Exchange December 31, Impairment Exchange December 31, 2020 (Note 26.5) differences 2020 (Note 26.5) differences 2021 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Globe Specialty Metals, Inc. 29,702 — — 29,702 — — 29,702 Total 29,702 — — 29,702 — — 29,702 On December 23, 2015, Ferroglobe PLC consummated the acquisition of 100% of the equity interests of Globe Specialty Metals, Inc. (GSM) and subsidiaries and FerroAtlántica. This Business Combination was accounted for using the acquisition method of accounting for business combinations under IFRS 3 Business Combinations, with FerroAtlántica treated as the accounting acquirer and GSM as the acquiree. The excess of the cost of acquisition over the Company’s interest in the fair value of the identifiable assets and liabilities assumed at the date of acquisition was recorded as goodwill. During the years ended December 31, 2021 and December 31, 2020, in connection with our annual goodwill impairment test, the Company did not recognize an impairment charge. During the year ended December 31, 2019, the Company recognized an impairment charge of $174,008 thousand. Ferroglobe operates in a cyclical market, and silicon and silicon-based alloy index pricing and foreign import pressure into the U.S. markets impact the future projected cash flows used in our impairment analysis. Recoverable value was estimated based on discounted cash flows. Estimates under the Company’s discounted income based approach involve numerous variables including anticipated sales price and volumes, cost structure, discount rates and long term growth, and therefore could impact fair values in the future. As of December 31, 2021, and 2020 the remaining goodwill for the U.S cash-generating units is $29,702 thousand. Key assumptions used in the determination of recoverable value In determining the asset recoverability through value in use, management makes estimates, judgments and assumptions on uncertain matters. For each cash-generating unit, the value in use is determined based on economic assumptions and forecasted operating conditions as follows: 2021 2020 2019 U.S. Canada U.S. Canada U.S. Canada Weighted average cost of capital 13.2 % — % 10.3 % — % 11.1 % 11.5 % Long-term growth rate 2.3 % — % 2.0 % — % 2.0 % 2.0 % Normalized tax rate 21.0 % — % 21.0 % — % 21.0 % 26.6 % Our approach in determining the recoverable amount utilises a discounted cash flow methodology, which necessarily involves making numerous estimates and assumptions regarding, operating costs, appropriate discount rates and working capital requirements. The key assumptions used for estimating cash flow projections in the Group’s impairment testing are those relating to revenue and operating costs. The key assumptions take account of the business’s expectations for the projection period. These expectations consider the macroeconomic environment, industry and market conditions, the CGU’s historical performance and any other circumstances particular to the unit, such as business strategy and product mix. These estimates will likely differ from future actual results of operations and cash flows, and it is possible that these differences could be material. In addition, judgements are applied in determining the level of CGU identified for impairment testing and the criteria used to determine which assets should be aggregated. Changes in our business activities or structure may also result in additional changes to the level of testing in future periods. Further, future events could cause the Group to conclude that impairment indicators exist and that the asset values associated with a given operation have become impaired. The Company has defined a financial model which considers the revenues, expenditures, cash flows, pre tax payments and capital expenditures on a five year period (2022-2026), and perpetuity beyond this period. The financial projections to determine the net present value of future cash flows are modeled considering the principal variables that determine the historic flows of each group of cash-generating unit including prices, volumes, costs, CAPEX and net working capital. The long-term growth rate is based on long-term average growth rate in the US.

Other intangible assets

Other intangible assets	12 Months Ended
Other intangible assets	Dec. 31, 2021
Disclosure of detailed information about intangible assets [abstract]
Other intangible assets	8. Other intangible assets Changes in the carrying amount of other intangible assets during the years ended December 31 are as follows: Other Accumulated Development Power Supply Computer Intangible Depreciation Impairment Expenditure Agreements Rights of Use Software Assets (Note 26.3) (Note 26.5) Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at January 1, 2020 50,326 37,836 16,533 5,149 42,670 (82,283) (18,964) 51,267 Additions 262 — — — 42,561 (7,183) — 35,640 Disposals — — — — (68,713) — — (68,713) Exchange differences 4,286 — 516 100 2,354 (3,576) (1,118) 2,562 Business disposal — — — — — — — — Balance at December 31, 2020 54,874 37,836 17,049 5,249 18,872 (93,042) (20,082) 20,756 Additions 1,040 — 10 — 139,180 (7,241) (1,153) 131,836 Disposals — — (3,558) (72) (51,796) 563 3,072 (51,791) Exchange differences (4,216) — (132) (87) (540) 3,580 1,236 (159) Business disposal — — — — — — — — Balance at December 31, 2021 51,698 37,836 13,369 5,090 105,716 (96,140) (16,927) 100,642 Additions and disposals in other intangible assets in 2021 and 2020 primarily relate to the acquisition, use and expiration of rights held to emit greenhouse gasses by certain Spanish, French and Canadian subsidiaries (see Note During 2021 the Company recognized an impairment of $1,153 thousand in relation to our quartz mine located in Mauritania. During 2021 the company has purchased rights to emit greenhouse gasses amounting $44,138 thousand. During 2020 the Company disposed of rights held to emit greenhouse gasses $34,209 thousand, which result in a net reduction of other intangible assets of $32,517 thousand. As a result of the Business Combination, the Company acquired a power supply agreement which provides favorable below-market power rates to the Alloy, West Virginia facility, which terminates in December 2025. At December 31, 2021, the Company has certain intangible assets pledged as collateral for debt instruments in Canada (see Note 18).

Property, plant and equipment

Property, plant and equipment	12 Months Ended
Property, plant and equipment	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment	9. Property, plant and equipment The detail of property, plant and equipment, net of the related accumulated depreciation and impairment in 2021 and 2020 is as follows: Advances and Property, Plant Other Items of Other Fixtures, and Equipment Property, Other Items Other Items Land and Plant and Tools and in the Course of Mineral Plant and of Leased of Leased Accumulated Buildings Machinery Furniture Construction Reserves Equipment Land and Plant and Depreciation Impairment Total Buildings machinery (Note 26.3) (Note 26.5) US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at January 1, 2020 196,586 1,273,837 8,819 106,651 59,502 34,463 13,298 21,333 (865,937) (107,646) 740,906 Additions 1,391 11,095 302 27,059 — 30 3,374 1,405 (101,006) (71,929) (128,279) Disposals and other (780) (17,664) (612) (1,715) — — — — 17,337 4 (3,430) Transfers from/(to) other accounts 904 15,830 — (16,861) — — — 127 — (6,937) (6,937) Exchange differences 9,924 48,487 (87) 8,895 (177) (1,305) 916 1,581 (45,901) (4,559) 17,774 Balance at December 31, 2020 208,025 1,331,585 8,422 124,029 59,325 33,188 17,588 24,446 (995,507) (191,066) 620,034 Additions 166 6,054 199 33,409 — — 576 4,113 (90,087) 1,663 (43,907) Disposals and other (1,131) (106,295) (618) (9,374) — (55) — — 73,601 39,972 (3,900) Transfers from/(to) other accounts 65 21,883 112 (23,621) — (20) — 730 867 (17) (1) Exchange differences (9,911) (50,603) (636) (10,481) (306) 476 (1,008) (1,527) 49,048 7,636 (17,312) Balance at December 31, 2021 197,214 1,202,624 7,479 113,962 59,019 33,589 17,156 27,762 (962,078) (141,811) 554,914 In order to ascertain whether its assets have become impaired, Ferroglobe compares their carrying amount with their recoverable amount if there are indications that the assets might have become impaired. Where the asset itself does not generate cash flows that are independent from other assets, Ferroglobe estimates the recoverable amount of the asset unit to which the asset belongs. Recoverable amount is the higher of fair value less cost of disposal and value in use, which is the present value of the future cash flows that are expected to be derived from continuing use of the asset and from its ultimate disposal at the end of its useful life, discounted at a rate which reflects the time value of money and the risks specific to the business to which the asset belongs. If the recoverable amount of an asset or cash-generating unit is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount, and an impairment loss is recognized as an expense under “net impairment losses” in the consolidated income statement. The increased carrying amount of an asset due to a reversal of an impairment loss should not exceed the carrying amount that would have been determined (net of amortisation or depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognized as “impairment (loss) gain” in the consolidated income statement. The basis for depreciation or amortization is the carrying amount of the assets, deemed to be the acquisition cost less any accumulated impairment losses. As at December 31, 2021 the Company tested property, plant and equipment for impairment related to our solar-grade silicon metal project based in Puertollano, Spain, Château-Feuillet plants in France and our silicon metal plant in Polokwane, South Africa for which the recoverable value was determined at fair value less cost of disposal. During year ended December 31, 2021 the Company recognized an impairment reversal of $2,681 thousand in relation to our Polokwane facility in South Africa, an impairment at Château Feuillet facility in Europe $441 thousand and an impairment related to our quartz mine located in Mauritania amounting $573 thousand. Fair value for Polokwane facility as of December 31, 2021 was $7,130 thousand. As this amount is higher than the carrying amount ($4,449 thousand), the company recognized an impairment reversal of $2,681 thousand. Fair value for Chateau Feuillet facility as of December 31, 2021 was $7,285 thousand. As this amount is lower than the carrying amount ($7,726 thousand), the company recognized an impairment of $441 thousand. During 2021, as a consequence of the sale of the Niagara facility, which had a net book value of nil (an impairment had been recognized in previous periods amounting to $$34,229) the Company has written off these amounts. During year ended December 31, 2020 the Company recognized an impairment of $71,929 thousand in relation to our idled capacity at the Niagara facilities in the United States $34,270 thousand, at the Polokwane facility in South Africa $8,677 thousand, at Château Feuillet facility in Europe $17,941 thousand and an impairment of $11,041 thousand in relation to our solar-grade silicon metal project in Puertollano, Spain. Transfer from (to) other accounts as of December 31, 2020 only includes $6,937 thousand from OpCo related to the contract signed with Aurinka. During 2019 the Company disposed of FerroAtlántica, S.A.U. and Ultracore Polska Zoo, which resulted in a net reduction of property, plant and equipment of $94,401 thousand. During 2019 the Company liquidated Ganzi Ferroatlántica Silicon Industry Company, Ltd. and started the process of liquidation of Mangshi Sinice Silicon Industry Company Limited, which resulted in the reduction of impairment of $48,775 thousand. At December 31, 2021 and 2020, the Company has property, plant and equipment pledged as security for debt instruments in Canada, France, Norway, Spain and USA. Commitments At December 31, 2021 and 2020, the Company has capital expenditure commitments totaling $3,834 thousand and $2,605 thousand, respectively, primarily related to maintenance and improvement works at plants.

Financial assets and other rece

Financial assets and other receivables	12 Months Ended
Financial assets and other receivables	Dec. 31, 2021
Other financial assets
Financial assets and other receivables	10. Financial assets and other receivables The company’s financial assets and their classification under IFRS 9 are as follows: 2021 classification Note Amortised cost Fair value through profit or loss - mandatorily measured Fair value through other comprehensive income - designated Total US$'000 US$'000 US$'000 US$'000 Other financial assets 10.1 3,348 847 — 4,195 Receivables from related parties 24 4,540 — — 4,540 Trade receivables 10.2 321,929 — — 321,929 Other receivables 10.2 6,199 — — 6,199 Cash and cash equivalents 114,391 — — 114,391 Restricted cash 2,272 — — 2,272 Total financial assets 452,679 847 — 453,526 2020 classification Note Amortised cost Fair value through profit or loss - mandatorily measured Fair value through other comprehensive income - designated Total US$'000 US$'000 US$'000 US$'000 Other financial assets 10.1 3,456 2,609 — 6,065 Receivables from related parties 24 5,530 — — 5,530 Trade receivables 10.2 202,233 — — 202,233 Other receivables 10.2 3,847 — — 3,847 Cash and cash equivalents 102,714 — — 102,714 Restricted cash 28,843 — — 28,843 Total financial assets 346,623 2,609 — 349,232 Restrictions on the use of group assets As of year ended December 31, 2021, Cash and cash equivalents and restricted cash comprise the following: 2021 2020 US$'000 US$'000 Cash and cash equivalents 114,391 102,714 Current/Non Current restricted cash presented as Cash 2,272 28,843 Escrow: Hydro sale 2,272 6,136 ABL — 22,500 Others — 207 Total 116,663 131,557 At December 31, 2021, non-current restricted cash comprises cash in relation to the guarantees taken over escrow amounting $2,272 thousand ($6,136 thousand in 2020). The escrow was constituted in August 30, 2019, in consideration of previous FerroAtlántica; under agreement terms, the Purchaser and the Seller deposited in a restricted bank account a part of the share purchase price, guaranteeing any compensation to the purchaser for any claim under the contract. On October 30, 2021, both parts agreed the release of an amount of $3,494 thousand (€3,000 thousand) out of the Escrow funds in order to offset part of the amount that the Company owes to the buyer derived the new tolling agreement. The Company has certain restrictions for the disposal of the cash in Norway recorded in “cash and cash equivalents” due to local requirements, amounting $1,497 thousand. The Company has also restrictions for the disposal of the cash in the joint ventures with Dow Corning, when the Company want to access to the excess cash available in the joint ventures, it is necessary to organise a board meeting and approve a dividend payment. Each partner receives its dividend portion accordingly, amounting to $51,956 thousand as of December 31, 2021. On March 16, 2021, the Company repaid in its entirety the remaining balance at the date of the ABL and the restricted cash was offset with the payment. 10.1 Other financial assets At December 31, 2021, other financial assets comprise the following: 2021 Non- Current Current Total US$'000 US$'000 US$'000 Other financial assets held with third parties: Other financial assets at amortised cost 3,348 — 3,348 Equity securities 743 104 847 Total 4,091 104 4,195 At December 31, 2020, other financial assets comprise the following: 2020 Non- Current Current Total US$'000 US$'000 US$'000 Other financial assets held with third parties: Other financial assets at amortised cost 3,456 — 3,456 Equity securities 1,601 1,008 2,609 Total 5,057 1,008 6,065 Other financial assets at amortized cost mainly comprises deposits given to French government by Ferropem ($2,718 thousand in 2021 and 2,679 thousand in 2020), a Ferroglobe subsidiary, in respect of effort de construction Listed equity securities comprises investments held by Globe Argentina Metales in Pampa Energía. For those assets measured at fair value at the balance sheet date, further information on fair value measurement is provided in Note 29. 10.2 Trade and other receivables Trade and other receivables comprise the following at December 31: 2021 2020 US$'000 US$'000 Trade receivables 322,935 203,930 Less – allowance for doubtful debts (1,006) (1,697) 321,929 202,233 Tax receivables (1) 25,244 13,166 Government grant receivables 27,701 23,016 Other receivables 6,199 3,847 Total 381,073 242,262 (1) “Tax receivables” is primarily related to VAT receivables, which are recovered either by offsetting against VAT payables or are expected to be refunded by the tax authorities in the relevant jurisdictions. The trade and other receivables disclosed above are short-term in nature and therefore their carrying amount is considered to approximate their fair value. The changes in the allowance for doubtful debts during 2021 and 2020 were as follows: Allowance US$'000 Balance at January 1, 2020 4,543 Impairment losses recognized 504 Amounts written off as uncollectible (3,666) Changes in the scope of consolidation — Exchange differences 315 Balance at December 31, 2020 1,697 Impairment losses recognized (580) Amounts written off as uncollectible — Changes in the scope of consolidation — Exchange differences (111) Balance at December 31, 2021 1,006 Securization and factoring of trade receivables On February 6, 2020, the Company entered into an amended and restated accounts receivables securitization program via which trade receivables generated by certain of the Company’s subsidiaries in Spain and France are financed both directly through the existing Irish special purpose vehicle (“SPE”) and indirectly through a French “fonds commun de titrisation”. The incorporation of the “fonds commun de titirsation” into the program allowed for the sale of certain Euro-denominated receivables that were not eligible under the previous structure and increased the available funding. The senior lender’s commitments under the amended and restated securitization program were $150,000 thousand. Finacity remained as intermediate subordinated lender providing a cash consideration of $2,808 thousand, and the Company’s European subsidiaries continued as senior subordinated and junior subordinated lenders as well as, having interests in the senior and intermediate subordinated loan tranches. On October 2, 2020, the Company ended the receivables funding agreement over European receivables and cancelled the securitization program, signing a new factoring agreement with a Leasing and Factoring Agent, for anticipating the collection of receivables of the Company’s European entities (Grupo FerroAtlántica, S.A. and FerroPem S.AS). As a result of the agreement, the Agent provided a cash consideration of circa $48.8 million, repurchased the receivables portfolio sold to the SPE on September 28, and consequently assumed the loan tranche of the senior borrower to the SPE. Also, the senior loan and intermediate subordinate loan tranches were paid with internal sources of funds, terminating the financing structure of the securitization program. The main characteristics of the factoring agreement are the following: - the maximum cash consideration advanced for the financing facility is up to € 60,000 thousand; - over collateralization of 10% of accounts receivable as guarantee provided to the Agent until payment has been satisfied; - Annual fee of 0.15% applied to the annual revenues ceded to the Agent; - Financing commission of 1% charged annually; Other conditions are set in relation to credit insurance policy which has been structured in an excess of loss policy where the first €5,000 thousand of bad debt losses are not covered by the insurance provider. The Company has assumed the cash collateralization for the entire excess of loss, as agreed in contractual terms. During 2021, the factoring agreement provided upfront cash consideration of approximately $659,083 thousand ($169,105 thousand for the three months ended December 31, 2020). The Company has repaid $ 640,168 thousand ($95,800 thousand in 2020), showing at December 31, 2021, an on-balance sheet bank borrowing debt of $93,090 thousand (2020: $74,844 thousand), see Note 16. At December 31, 2021, the Company held $ 115,684 thousand of accounts receivables recognized in consolidated balance sheet in respect of factoring agreement (89,154 thousand at December 31, 2020). Finance costs incurred during the year ended December 31, 2021, amounts $3,202 thousand ($916 thousand, at December 31, 2020) recognized in finance costs in the consolidated income statement. As of December 31, 2021, the Company exceeded the limit, the lender agreed a temporary increase of the limit (See Note 16). Judgements relating to the accounting for the factoring agreement The Company has assessed whether it has transferred substantially all risks and rewards, continuing to be exposed to the variable returns from its involvement in the factoring agreement as it is exposed to credit risk, so the conclusion is that the derecognition criteria is not met and therefore, the account receivables sold are not derecognized from the balance sheet and an obligation is recognized as bank borrowings for the amount of cash advanced by the Leasing and Factoring Agent. The amount repayable under the factoring agreement is presented as on-balance sheet factoring and the debt assigned to factoring is showed as bank borrowings. See Note 16. Government grants The Company has been awarded government grants in relation to its operations in France, Spain and Norway, including grants in relation to the compensation of costs associated with the emission of CO 2 During the year ended December 31, 2021, the Company recognized $31,588 thousand of income related to government grants, the amount was deducted against the related expense in Raw Materials and energy consumption for production (2020: $30,420 thousand of income). The Company has no unfulfilled conditions in relation to government grants, but certain grants would be repayable if the Company were to substantially curtail production or employment at certain plants.

Inventories

Inventories	12 Months Ended
Inventories	Dec. 31, 2021
Inventories.
Inventories	11. Inventories Inventories comprise the following at December 31: 2021 2020 US$'000 US$'000 Finished goods 118,080 100,711 Raw materials in progress and industrial supplies 110,965 99,259 Other inventories 42,815 46,274 Advances to suppliers 17,937 305 Total 289,797 246,549 During 2021 the Company recognised an expense of $1,095 thousand (2020: $1,939 thousand) in respect of write-downs of inventory to net realisable value. The Company records expense for the write-down of inventories to Raw Materials and energy consumption for production in the consolidated income statement, see Note At December 31, 2021, inventories in the Company’s subsidiaries in the United States, Canada, Norway and Spain ($180,575 thousand) were pledged forming part of the collateral for debt instruments, see Note

Other assets

Other assets	12 Months Ended
Other assets	Dec. 31, 2021
Other assets abstract
Other assets	12. Other assets Other assets comprise the following at December 31: 2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Guarantees and deposits given 18,020 299 18,319 10,290 253 10,543 Prepayments and accrued income 27 3,213 3,240 — 10,656 10,656 Other assets 687 4,896 5,583 1,614 9,805 11,419 Total 18,734 8,408 27,142 11,904 20,714 32,618 At December 31, 2021, the amount in Guarantees and deposits given increased due to a cash deposit made during the year with TAC ( Tennessee Valley Authority At December 31, 2021, the figure in Prepayments and accrued income decreased due to prepayments recorded in “Grupo FerroAtántica S.A.U” as of December 31, 2020.

Equity

Equity	12 Months Ended
Equity	Dec. 31, 2021
Equity [abstract]
Equity	13. Equity Share capital Ferroglobe PLC was incorporated on February 5, 2015 and issued one ordinary share with a face value of $1.00. The share was issued but uncalled. On October 13, 2015, the Company increased its share capital by £50,000 by issuing 50,000 sterling non-voting redeemable preference shares (the “Non-voting Shares”) as well as 14 ordinary shares with a par value of $1.00. Subsequently on October 13, 2015, the Company consolidated the 15 ordinary shares at a par value of $1.00 to two ordinary shares with a par value of $7.50, for a total amount of $15.00. On December 23, 2015, the Company acquired all of the issued and outstanding ordinary shares from Grupo Villar Mir, S.A.U., par value €1,000 per share, of Grupo FerroAtlántica, S.A.U. in exchange for 98,078,161 newly-issued Ferroglobe Class A ordinary shares, nominal value $7.50 per share, making Grupo FerroAtlántica, S.A.U. a wholly-owned subsidiary of the Company. The company subsequently redeemed all Non-voting Shares. Subsequently on December 23, 2015, Gordon Merger Sub, Inc., a wholly owned subsidiary of the Company, merged with Globe Specialty Metals, Inc., and all outstanding shares of GSM common stock, par value $0.0001 per share were converted to the right to receive one newly-issued Ferroglobe ordinary share, nominal value $7.50 per share. The ordinary shares were registered by the Company pursuant to a registration statement on Form F-4, which was declared effective by the SEC on August 11, 2015, and trade on the NASDAQ Global Select Market under the ticker symbol “GSM.” On June 22, 2016 the Company completed a reduction of the share capital and as such the nominal value of each share has been reduced from $7.50 to $0.01, with the amount of the capital reduction being credited to a distributable reserve. On November 18, 2016, Class A Ordinary Shares were converted into ordinary shares of Ferroglobe as a result of the distribution of beneficial interest units in the Ferroglobe Representation and Warranty Insurance Trust to certain Ferroglobe shareholders. During the years ended December 31, 2019 and December 31, 2020, the Company did not issue new ordinary shares of any class. Upon the closing of the financing transaction at July 29, 2021, the company issued 8,918,618 new ordinary shares to Rubric Capital Management LP on behalf of certain managed or sub-managed funds and accounts and Grupo Villar Mir, S.A.U for a total issued share capital of $40 million, and 1,900,000 shares and 7,013,872 shares par value $0.01 amounting to $51,522 thousand as equity work fee and bondholder equity stake related to the financing transactions. The transaction fees incurred in the issuance of the share capital of $40 million amounting to $6,647 thousand have been accounted for as a deduction from equity. On October 6, 2021, the Company has entered into an equity distribution agreement (the “Equity Distribution Agreement”) with B. Riley Securities, Inc. and Cantor Fitzgerald & Co. relating to the ordinary shares, par value $0.01 per share, of Ferroglobe PLC, by which the Company may offer and sell ordinary shares having an aggregate offering price of up to $100,000,000 from time to time through B. Riley Securities, Inc. and Cantor Fitzgerald & Co. as our sales agents. The company has sold 186,053 ordinary shares with net proceeds of $1.4 million. At December 31, 2021, there were 188,882,316 ordinary shares in issue with a par value of $0.01, for a total issued share capital of $1,962 thousand, (2020: 170,863,773 ordinary shares in issue with a par value of $0.01, for a total issued share capital of $1,784 thousand). The Company held 1,568,854 ordinary shares in treasury. At December 31, 2021, the Company’s largest shareholders are as follows: Number of Shares Percentage of Name Beneficially Owned Outstanding Shares () Grupo Villar Mir, S.A.U. 91,125,519 48.60 % Rubric Capital Management LP 13,648,711 7.3 % The Goldman Sachs Group, Inc. 9,806,757 5.2 % () 187,313,460 ordinary shares were outstanding at 31 December 2021, comprising 188,882,316 shares in issue less 1,568,854 shares held in treasury Valuation adjustments Valuation adjustments comprise the following at December 31: 2021 2020 US$'000 US$'000 Actuarial gains and losses 5,525 4,833 Hedging instruments and other — 922 Total 5,525 5,755 Note Capital management The Company’s primary objective is to maintain a balanced and sustainable capital structure through the industry’s economic cycles, while keeping the cost of capital at competitive levels so as to fund the Company’s growth. The main sources of financing are as follows: 1. cash flow from operations; 2. bank borrowings, 3. debt instruments, including the Reinstated Senior Notes and the Super Senior Notes due 2025. 4. factoring and forfaiting of receivables Capital Raising and Extension of the Maturity of the Notes On March 27, 2021, Ferroglobe and Globe and certain other members of our group entered into the Lock-Up Agreement with the Ad Hoc Group Noteholders, Grupo VM and affiliates of Tyrus Capital that set forth a plan to refinance the Notes and restructure our balance sheet. On July 30,2021 the company announced the occurrence of the “Transaction Effective Date” under the lock-up agreement dated March 27, 2021 (the “Lock-Up Agreement”) between the Parent and the financial stakeholders. The Transaction Effective Date marked the completion of the financing proposal. The principal elements of the restructuring, are set forth below: ● Issuance of $60 million of new senior secured notes ● Issuance of $40 million in new equity of Ferroglobe ● Extension of the maturity date of the Notes from March 31, 2022 to December 31, 2025 and amendment of certain other terms. The Company manages its capital structure and makes adjustments in light of changes in economic conditions. To maintain or adjust the capital structure, the Company may restructure or issue new borrowings or debt, make dividend payments, return capital to shareholders or issue new shares. Management’s review of the Company’s capital structure includes monitoring of the leverage ratio. Dividends There have not been dividends paid or proposed by the Company during the year ended December 31, 2021 neither during the year ended December 31, 2020. There were earnings distributed by a Joint Venture participated by a Globe Speciality Metals, Inc subsidiary to non-controlling interests during the year ended December 31, 2021. Non-controlling interests The changes in non-controlling interests in the consolidated statements of financial position in 2021 and 2020 were as follows: Balance US$'000 Balance at January 1, 2020 118,077 Loss for the year (3,419) Translation differences (154) Balance at December 31, 2020 114,504 Loss for the year (4,750) Dividends paid to joint venture partner (5,880) Translation differences 166 Other 2,013 Balance at December 31, 2021 106,053 The stand-alone statutory information regarding the largest non-controlling interests, in accordance with IFRS 12 Disclosure of Interests in Other Entities, is as follows: WVA Manufacturing, LLC (WVA) was formed on October 28, 2009 as a wholly-owned subsidiary of Globe. On November 5, 2009, Globe sold a 49% membership interest in WVA to Dow Corning Corporation (currently named “Dow”), an unrelated third party. As part of the sale of the 49% membership interest to Dow, an operating agreement and an output and supply agreement were established. The output and supply agreement states that of the silicon metal produced by WVA, 49% will be sold to Dow and 51% to Globe, which represents each member’s ownership interest, at a price equal to WVA’s actual production cost plus $100 per metric ton. The agreement will automatically terminate upon the dissolution or liquidation of WVA in accordance with the joint venture agreement between Globe and Dow. As of December 31, 2021 and 2020, the balance of Non-controlling interest related to WVA was $61,912 thousand and $70,270 thousand, respectively. Quebec Silicon Limited Partnership (QSLP), formed under the laws of the Province of Québec on August 20, 2010 is managed by its general partner, Quebec Silicon General Partner Inc., which is 51% property of Globe. QSLP owns and operates the silicon metal operations in Bécancour, Québec. QSLP’s production output is subject to a supply agreement, which sells 51% of the production output to Globe and 49% to Dow, which represents each member’s ownership interest, at a price equal to QSLP’s actual production cost plus 31 Canadian dollars per metric ton. As of December 31, 2021 and 2020, the balance of non-controlling interest related to QSLP was $37,682 thousand and $44,808 thousand, respectively. 2021 2020 2019 WVA QSLP WVA QSLP WVA QSLP US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Statements of Financial Position Non-current assets 76,865 63,088 80,887 67,806 80,923 63,639 Current assets 66,336 46,186 58,404 37,095 56,839 30,931 Non-current liabilities 14,677 19,005 14,677 18,186 14,677 19,944 Current liabilities 32,612 14,671 23,208 16,320 27,579 7,277 Income Statements Sales 165,660 89,446 156,995 70,637 167,503 78,414 Operating profit 6,696 2,093 5,900 3,113 6,688 252 Profit before taxes 6,507 1,237 5,900 2,898 6,423 (36) Net (loss) income 3,318 613 3,008 1,666 3,276 (70) Cash Flow Statements Cash flows from operating activities 11,981 8,997 28,683 15,387 2,287 3,720 Cash flows from investing activities (3,893) (4,956) (7,977) (5,227) (2,256) (3,544) Cash flows from financing activities — — — — — 227 Exchange differences on cash and cash equivalents in foreign currencies — 31 — 45 — 149 Beginning balance of cash and cash equivalents 27,272 12,524 6,566 2,319 6,535 1,767 Ending balance of cash and cash equivalents 35,360 16,596 27,272 12,524 6,566 2,319

Earnings (loss) per ordinary sh

Earnings (loss) per ordinary share	12 Months Ended
Earnings (loss) per ordinary share	Dec. 31, 2021
Earnings per share [abstract]
Earnings (loss) per ordinary share	14. Earnings (loss) per ordinary share Basic earnings (loss) per ordinary share are calculated by dividing the consolidated profit (loss) for the year attributable to the Parent by the weighted average number of ordinary shares outstanding during the year, excluding the average number of treasury shares held in the year, if any. Dilutive earnings (loss) per share assumes the exercise of stock options, provided that the effect is dilutive. 2021 2020 2019 US$'000 US$'000 US$'000 (Loss) for the year from continuing operations (115,374) (244,359) (370,277) (Loss) profit for the year from discontinued operations — (5,399) 84,637 Total (Loss) for the year (115,374) (249,758) (285,640) Attributable to the Parent (110,624) (246,339) (280,601) Attributable to non-controlling interests (4,750) (3,419) (5,039) Earnings per share 2021 2020 2019 Numerator: (Loss) attributable to the Parent (US$'000) (110,624) (246,339) (280,601) Denominator: Weighted average basic and dilutive shares outstanding 176,508,144 169,269,281 169,152,905 Basic and diluted (loss) earnings per ordinary share (US$) (0.63) (1.46) (1.66) Numerator: (Loss) for the year from continuing operations attribuitable to the Parent (US$'000) (110,624) (240,940) (365,238) Denominator: Weighted average basic and dilutive shares outstanding 176,508,144 169,269,281 169,152,905 Basic and diluted (loss) earnings per ordinary share (US$) (0.63) (1.42) (2.16) Numerator: (Loss) profit for the year from discontinued operations (US$'000) — (5,399) 84,637 Denominator: Weighted average basic and dilutive shares outstanding 176,508,144 169,269,281 169,152,905 Basic and diluted (loss) earnings per ordinary share (US$) — (0.03) 0.50

Provisions

Provisions	12 Months Ended
Provisions	Dec. 31, 2021
Provisions [abstract]
Provisions	15. Provisions Provisions comprise the following at December 31: 2021 2020 Non- Current Current Total Non- Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Provision for pensions 41,238 180 41,418 56,395 191 56,586 Environmental provision 2,562 1,133 3,695 2,910 1,256 4,166 Provisions for litigation — 1,952 1,952 — 1,355 1,355 Provisions for third-party liability 8,905 — 8,905 10,759 — 10,759 Provisions for C02 emissions allowances 3,033 107,213 110,246 — 40,161 40,161 Provision for restructuring cost — 22,350 22,350 — 2 2 Other provisions 5,220 4,797 10,017 38,423 12,331 50,754 Total 60,958 137,625 198,583 108,487 55,296 163,783 Restructuring provision is related to the restructuring process in Château-Feuillet facility in France amounting $21,717 thousand and Cinca facility in Spain amounting $633 thousand. The changes in the various line items of provisions in 2021 and 2020 were as follows: Provisions for Provisions for Provisions for Provisions for Provision for Environmental Litigation Third CO2 Emissions Restructuring Other Pensions Provision in Progress Party Liability Allowances Cost Provisions Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at January 1, 2020 57,729 4,108 3,905 9,263 34,938 2 21,002 130,943 Charges for the year 5,340 117 184 268 38,249 — 30,890 75,048 Provisions reversed with a credit to income (1,843) — — — — — (1,972) (3,815) Amounts used (3,514) (26) (2,886) (198) (35,860) — — (42,484) Provision against equity (3,260) — — 568 — — — (2,692) Exchange differences and others 2,134 (33) 152 858 2,834 — 838 6,783 Disposals from business divestitures — — — — — — — — Balance at December 31, 2020 56,586 4,166 1,355 10,759 40,161 2 50,754 163,783 Charges for the year 5,990 28 934 588 97,982 31,838 (12) 137,348 Provisions reversed with a credit to income (1,419) (189) — — (7,830) — (9,419) (18,857) Amounts used (9,911) (1) (233) (535) (18,420) (9,534) (269) (38,903) Provision against equity (6,847) — — (1,081) — — — (7,928) Transfers from/(to) other accounts — (33) — — — 44 (28,437) (28,426) Exchange differences and others (2,981) (276) (104) (826) (1,647) — (2,600) (8,434) Balance at December 31, 2021 41,418 3,695 1,952 8,905 110,246 22,350 10,017 198,583 The main provisions relating to employee pensions are as follows: France These relate to various obligations assumed by FerroPem, SAS with various groups of employees relate to long-service benefits, medical insurance supplements and retirement obligations, all of which are defined unfunded benefit obligations, whose changes in 2021 and 2020 were as follows: 2021 2020 US$'000 US$'000 Obligations at the beginning of year 34,496 32,795 Current service cost 1,082 1,580 Borrowing costs 212 242 Actuarial differences (3,003) (2,170) Benefits paid (995) (1,037) Exchange differences (2,412) 3,086 Others (3,430) — Obligations at the end of year 25,950 34,496 At December 31, 2021 and 2020 the effect of a 1% change in discount rate would have resulted in a change to the provision of approximately $3,288 thousand and $4,953 thousand, respectively. The following table reflects the gross benefit payments that are expected to be paid for the benefit plans for the year ended December 31, 2021: 2021 US$'000 2022 1,016 2023 1,281 2024 2,078 2025 1,563 2026 1,488 Years 2027-2031 8,458 The subsidiary recognized provisions in this connection based on an actuarial study performed by an independent expert. South Africa Defined benefit plans relate to Retirement medical aid obligations and Retirement benefits. Actuarial valuations are performed periodically by independent third parties and in the actuary’s opinion the fund was in a sound financial position. The valuation was based upon the amounts as per the latest valuation report received from third party experts. Retirement medical aid obligations The Company provides post-retirement benefits by way of medical aid contributions for employees and dependents. Retirement benefits It is the policy of the Company to provide retirement benefits to all its employees and therefore membership of the retirement fund is compulsory. The Company has both defined contribution and defined benefit plans. The pension fund obligation is recognized in current provisions as the Company will contribute the difference to the plan assets within the next 12 months. In this regard, the changes of this provision in 2021 and 2020 were as follows: 2021 2020 US$'000 US$'000 Obligations at beginning of year 3,461 4,601 Current service cost 32 47 Borrowing costs 390 435 Actuarial differences 526 (1,238) Benefits paid (232) (278) Exchange differences (398) (106) Obligations at end of year 3,779 3,461 At December 31, 2021 and 2020, the effect of a 1% change in the cost of the medical aid would have resulted in a change to the provision of approximately $481 thousand and $378 thousand, respectively. The breakdown, in percentage, of the plan assets are as follows: 2021 2020 Cash 2.85 % 1.84 % Equity 47.21 % 41.70 % Bond 17.32 % 18.53 % Property 2.79 % 1.68 % International 28.42 % 32.02 % Others 1.41 % 4.23 % Total 100.00 % 100.00 % As of December 31, 2021 and 2020 the Plan assets amounted to $1,706 thousand and $2,204 thousand, respectively. Changes in the fair value of plan assets linked to the defined benefit plans in South Africa were as set forth in the following table: 2021 2020 US$'000 US$'000 Fair value of plan assets at the beginning of the year 2,204 2,126 Interest income on assets 172 200 Benefits paid (775) — Actuarial differences 223 (77) Other (118) (45) Fair value of plan assets at the end of the year 1,706 2,204 Actual return on assets 395 122 Venezuela Benefit Plan The company FerroVen has pension obligations to all of its employees who, once reaching retirement age, have accumulated at least 15 years of service to the company and receive a Venezuelan Social Security Institute (IVSS) pension. In addition to the pension paid by the IVSS, 80% of the basic salary accrued when the pension benefit is awarded is guaranteed and paid by means of a lifelong monthly pension. The most recent of the present value of the defined benefit obligation actuarial valuation was determined at December 31, 2021 by independent actuaries. The present value of the obligation for defined unfunded benefit cost, the current service cost and past service cost were determined using the projected unit credit method. In this regards, the changes of this provision in 2021 and 2020 2021 2020 US$'000 US$'000 Obligations at the beginning of year 22 2,577 Current service cost 102 26 Borrowing costs 115 596 Benefits paid (2) (2) Exchange differences (47) (956) Other — (2,220) Obligations at the end of year 190 22 The summary of the main actuarial assumptions used to calculate the aforementioned obligations is as follows: France South Africa Venezuela 2021 2020 2021 2020 2021 2020 Salary increase 1.60%-6.10% 1.60%-6.10% N/A 5.80%-9.10% % 500 % 500 % Discount rate 0.75% 0.75% 10.60-11.60% 9.80%-13.2% % 536 % 536 % Expected inflation rate 1.60% 1.60% 5.80-7.10% 4.80%-7.60% % 550 % 550 % Mortality TGH05/TGF05 TGH05/TGF05 SA 85-90 / PA (90) SA 85-90 / PA (90) GAM 83 GAM 83 Retirement age 65 65 63 63 63-64 65 High percentages are driven by hyperinflationary economy in Venezuela. North America a. Defined Benefit Retirement and Post-retirement Plans Globe Metallurgical Inc. (“GMI”) sponsors three non-contributory defined benefit pension plans covering certain employees, which were all frozen in 2003. Core Metals sponsors a non-contributory defined benefit pension plan covering certain employees, which was closed to new participants in April 2009. The Plan’s liabilities have been completely settled as a result of the amendment terminating the plan. Quebec Silicon Limited partnership (“QSLP”) sponsors a contributory defined benefit pension plan and postretirement benefit plan for certain employees, based on length of service and remuneration. Post-retirement benefits consist of a group insurance plan covering plan members for life insurance, disability, hospital, medical, and dental benefits. The contributory defined benefit pension plan was closed to new participants in December 2013. On December 27, 2013, the Communications, Energy and Paper Workers Union of Canada (“CEP”) ratified a new collective bargaining agreement, which resulted in a curtailment pertaining to the closure of the postretirement benefit plan for union employees retiring after January 31, 2016. The Company’s funding policy has been to contribute, as necessary, an amount in excess of the minimum requirements in order to achieve the Company’s long-term funding targets. Benefit Obligations and Funded Status 2021 2020 USA Canada Total USA Canada Total Post- Post- Pension Pension retirement Pension Pension retirement Plans Plans Plans Plans Plans Plans US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Benefit obligation — 25,349 8,569 33,918 39,214 28,110 9,632 76,956 Fair value of plan assets (14) (22,417) — (22,431) (36,011) (22,337) — (58,348) Provision for pensions (14) 2,932 8,569 11,487 3,203 5,773 9,632 18,608 All North American pension and post-retirement plans are underfunded. At December 31, 2021 and 2020, the accumulated benefit obligation was $25,349 thousand and $67,324 thousand for the defined pension plan and $8,569 thousand and $9,632 thousand for the post-retirement plans, respectively. The assumptions used to determine benefit obligations at December 31, 2021 and 2020 for the North American plans are as follows: North America – 2021 North America – 2020 USA Canada USA Canada Pension Pension Postretirement Pension Pension Postretirement Plan Plan Plan Plan Plan Plan Salary increase N/A 2.75% - 3.00% N/A N/A 2.75% - 3.00% N/A Discount rate N/A 3.21% 3.30% 2.25% 2.61% 2.75% Expected inflation rate N/A N/A N/A N/A N/A N/A Mortality N/A CPM2014-Private Scale CPM-B CPM2014-Private Scale CPM-B Pri-2012 Blue Collar Mortality CPM2014-Private CPM2014-Private Scale CPM-B Retirement age N/A 58 60 58 60 65 58 60 58 60 The discount rate used in calculating the present value of our pension plan obligations is developed based on the BPS&M Pension Discount Curve for 2021 and 2020 and the Mercer Proprietary Yield Curve for 2021 and 2020 for QSLP Pension and post-retirement benefit plans and the expected cash flows of the benefit payments. The Company expects to make discretionary contributions of approximately $861 thousand to the defined benefit pension and post-retirement plans for the year ending December 31, 2021. The pension plan exposes the Company to the following risks: (i) Investment risk: The defined benefit obligation is calculated using a discount rate. If the return on plan assets is below this rate, a plan deficit occurs (ii) Interest rate risk: Variation in bond rates will affect the value of the defined benefit obligation. (iii) Inflation risk: The defined benefit obligation is calculated assuming a certain level of inflation. An actual inflation higher than expected will have the effect of increasing the value of the defined benefit obligation. The following reflects the gross benefit payments that are expected to be paid in future years for the benefit plans for the year ended December 31: Non-pension Postretirement Pension Plans Plans US$'000 US$'000 2022 1,043 194 2023 1,086 203 2024 1,176 228 2025 1,230 251 Years 2026-2030 6,599 1,578 The accumulated non-pension post-retirement benefit obligation has been determined by application of the provisions of the Company’s health care and life insurance plans including established maximums, relevant actuarial assumptions and health care cost trend rates projected at 5.1% for 2021 and decreasing to an ultimate rate of 4.0% in fiscal 2040. At December, 31 2021 and 2020, the effect of a 1% increase in health care cost trend rate on the non-pension post-retirement benefit obligation is $1,735 thousand and $2,085 thousand, respectively. At December, 31 2021 and 2020 the effect of a 1% decrease in health care cost trend rate on the non-pension post-retirement benefit obligation is ($1,327) thousand and ($1,567) thousand. The changes to these obligations in the current year ended December 31, 2021 were as follows: 2021 USA Canada Total Pension Pension Post-retirement Plans Plans Plans US$'000 US$'000 US$'000 US$'000 Obligations at the beginning of year 39,214 28,110 9,632 76,956 Service cost 151 162 371 684 Borrowing cost 566 720 262 1,548 Actuarial differences (18) (2,688) (1,555) (4,261) Benefits paid (1,693) (1,020) (169) (2,882) Exchange differences 65 28 93 Expenses (119) — — (119) Plan settlement (38,101) — — (38,101) Obligations at the end of year — 25,349 8,569 33,918 The plan assets of the defined benefit and retirement and post-retirement plans in North America are comprised of assets that have quoted market prices in an active market. The breakdown as of December 31, 2021 and 2020 of the assets by class are: 2021 2020 Cash — % 33 % Equity Mutual Funds 27 % 10 % Fixed Income Securities 14 % 32 % Assets held by insurance company 59 % 25 % Total 100 % 100 % For the year ended December 31, 2021, the changes in plan assets were as follows: 2021 USA Canada Pension Pension Plans Plans Total US$'000 US$'000 US$'000 Fair value of plan assets at the beginning of the year 36,011 22,337 58,348 Interest income on assets 514 582 1,096 Benefits paid (1,693) (1,020) (2,713) Actuarial return on plan assets (610) (47) (657) Exchange differences — 57 57 Other 48 508 556 Plan Settelment (34,256) — (34,256) Fair value of plan assets at the end of the year 14 22,417 22,431 b. Other Benefit Plans The Company administers healthcare benefits for certain retired employees through a separate welfare plan requiring reimbursement from the retirees. The Company’s subsidiary, GMI, provides two defined contribution plans (401(k) plans) that allow for employee contributions on a pretax basis. The Company agrees to match 25% of participants’ contributions up to a maximum of 6% of compensation. Additionally, the Company sponsors a defined contribution plan for employees of Core Metals. Under the plan, the Company may make discretionary payments to salaried and non-union participants in the form of profit sharing and matching funds. Other benefit plans offered by the Company include a Section 125 cafeteria plan for the pretax payment of healthcare costs and flexible spending arrangements. Environmental provision Environmental provisions related to $2,562 thousand of non-current environmental rehabilitation obligations as of December 31, 2021 (2020: $2,910 thousand) and $1,133 thousand of current environmental rehabilitation obligations as of December 31, 2021 (2020: $1,256 thousand). A significant part of these provisions is related to the company's mining activity. Provisions for litigation Certain employees of FerroPem, SAS, then known as Pechiney Electrometallurgie, S.A., may have been exposed to asbestos at its plants in France in the decades prior to FerroAtlántica’s purchase of that business in December 2004. The Company has recognized a provision of $1,143 thousand during the year ended December 31, 2021 as part of the current portion of Provisions for litigation (2020: $1,080 thousand). See Note 25 for further information. The timing and amounts potential liabilities arising from such exposures is uncertain. The provision reflects the Company’s best estimate of the expenditure required to meet resulting obligations. Provisions for third-party liability Provisions for third-party liability presented as non-current obligations $8,905 thousand relate to health costs for retired employees (2020: $10,759 thousand) in the The Company’s subsidiary, FerroPem, SAS. The following table reflects the gross benefit payments that are expected to be paid for the benefit plans for the year ended December 31, 2021: 2021 US$'000 2022 - 2023 532 2024 269 2025 272 2026 277 Years 2027-2031 1,428 The recognized provisions are based on an actuarial study performed by an independent expert. Other provisions Included in other provisions are current obligations arising from past actions that involve a probable outflow of resources that can be reliably estimated. Other provisions include taxes of $2,506 thousand (2020: $6,053 thousand) and $6,422 thousand are related to the accrued estimated costs of reclaiming the land after it has been mined for gravel or coal.

Bank borrowings

Bank borrowings	12 Months Ended
Bank borrowings	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Bank borrowings	16. Bank borrowings Bank borrowings comprise the following at December 31: 2021 Non-Current Current Limit Amount Amount Total US$'000 US$'000 US$'000 US$'000 Borrowings carried at amortised cost: Borrowings from receivable factoring facility 67,956 — 93,090 93,090 Other loans — 3,670 2,207 5,877 Total 3,670 95,297 98,967 2020 Non-Current Current Limit Amount Amount Total US$'000 US$'000 US$'000 US$'000 Borrowings carried at amortised cost: Credit facilities 100,000 — 27,237 27,237 Borrowings from receivable factoring facility 73,626 — 74,844 74,844 Other loans 5,277 249 5,526 Total 5,277 102,330 107,607 Credit facilities Credit facilities comprise the following at December 31: 2021 2020 US$'000 US$'000 Secured loans carried at amortised cost Principal amount — 31,155 Unamortised issuance costs — (3,918) Accrued interest — — Total — 27,237 Amount due for settlement within 12 months — 27,237 Amount due for settlement after 12 months — — Total — 27,237 On October, 11, 2019, Ferroglobe subsidiaries Globe Specialty Metals, Inc., and QSIP Canada ULC, as borrowers, entered into a Credit and Security Agreement for a new $100 million north American asset-based revolving credit facility (the “ABL Revolver”), with PNC Bank, N.A., as lender. On March 16, 2021, the Company has repaid in its entirety the remaining balance at the date for an amount equal to $39,476 thousand, cancelling its obligations derived from the contract. Borrowings from receivable factoring facility On October 2, 2020, the Company ended the receivables funding agreement over European receivables, signing a new factoring agreement with a Leasing and Factoring Agent, for anticipating the collection of receivables of the Company’s European entities. As a result of the agreement, the Agent provided a cash consideration of circa $48.8 million, repurchased the receivables portfolio sold to the SPE on September 28, and consequently assumed the loan tranche of the senior borrower to the SPE. Also, the senior loan and intermediate subordinate loan tranches were paid with internal sources of funds, terminating the financing structure of the securitization program (See Note The main characteristics of the agreement are the following: - the maximum cash consideration advanced for the financing facility is up to EUR 60,000 thousand; - over collateralization of 10% of accounts receivable as guarantee provided to the Agent until payment has been satisfied; - Annual fee of 0.15% applied to the annual revenues ceded to the Agent; - Financing commission of 1% charged annually; Other conditions are set in relation to credit insurance policy which has been structured in an excess of loss policy where the first EUR 5,000 thousand of bad debt losses are not covered by the insurance provider. The Company has assumed the cash collateralization for the entire excess of loss, as agreed in contractual terms. Judgements relating to the accounting for the factoring agreement The Company has assessed whether it has transferred substantially all risks and rewards, continuing to be exposed to the variable returns from its involvement in the factoring agreement as it is exposed to credit risk, so the conclusion is that the derecognition criteria is not met and therefore, the account receivables sold are not derecognized from the balance sheet and an obligation is recognized as bank borrowings for the amount of cash advanced by the Leasing and Factoring Agent. As of December 31, 2021, the Company exceeded the limit, the lender agreed a temporary increase of the limit. Other Loans Include loans held by The Company to finance their current activities in France and Argentina. The loan related to France was signed in July 2020 for an amount of $5,277 thousand. The balance as of December 31, 2021 is $3,670 thousand. The loan is zero interest rate, guaranteed by French government, and the initial period is one year duration, with repayment of up to five years. The loans related to Argentina are three short term loans for a total amount of $975 thousand due in 2022. Since December 2019, the Company entered into a forfaiting program where some of the Company’s French and Spanish entities may assign their rights to receive payments under the Contracts with the customer “ArcelorMittal Sourcing s.c.a.” in accordance with a forfaiting scheme. Foreign currency exposure of bank borrowings The breakdown by currency of bank borrowings at December 31, is as follows: 2021 Non-Current Current Principal Principal Amount Amount Total US$'000 US$'000 US$'000 Borrowings in US Dollars — 1,245 1,245 Borrowings in Euros 3,670 94,052 97,722 Total 3,670 95,297 98,967 2020 Non-Current Current Principal Principal Amount Amount Total US$'000 US$'000 US$'000 Borrowings in US Dollars — 27,486 27,486 Borrowings in other currencies 5,277 74,844 80,121 Total 5,277 102,330 107,607 Contractual maturity of non-current bank borrowings The contractual maturity of bank borrowings at December 31, 2021, was as follows: 2021 2022 2025 Total US$'000 US$'000 US$'000 Credit facilities — — — Borrowings from supplier factoring facility 93,941 — 93,941 Other loans 2,229 3,670 5,899 Total 96,170 3,670 99,840

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2021
Leases
Leases	17. Leases Lease obligations Lease obligations as at December 31 are as follows: 2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Other leases 9,968 8,390 18,358 13,994 8,542 22,536 Total 9,968 8,390 18,358 13,994 8,542 22,536 As of December 31, 2021 and 2020 Ferroglobe holds short-term leases and low-value leases for which it has elected to recognise right of use assets and lease liabilities. Each lease is reflected in the statement of financial position as a right of use asset and a lease liability. As of December 31, 2021 and 2020 Ferroglobe has not recorded any expense relating to variable lease payments. The detail, by maturity, of the non-current payment obligations under leases as of December 31, 2021 is as follows: 2023 2024 2025 2026 2027 and after Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Other leases 5,905 1,672 1,027 310 1,054 9,968 Total 5,905 1,672 1,027 310 1,054 9,968 IFRS 16 has had the following effect on components of the consolidated financial statements: 2021 2020 US$'000 US$'000 Balance at December 31, (22,536) (25,872) Additions (7,761) (5,471) Disposals and other 517 102 Interest (1,100) (1,358) Lease payments 11,285 11,673 Exchange differences 1,237 (1,610) Balance at December 31, (18,358) (22,536) Lease liabilities were discounted at the average incremental borrowing rate of 5.5%. Leases are presented as follows in the Statement of financial position: 2021 2020 US$'000 US$'000 Non-current assets Leased land and buildings 17,156 17,588 Leased plant and machinery 27,762 24,446 Accumulated depreciation (29,855) (22,498) Non-current liabilities Lease liabilities (9,968) (13,994) Current liabilities Lease liabilities (8,390) (8,542) Leases are presented as follows in the Consolidated income statement: 2021 2020 US$'000 US$'000 Depreciation and amortization charges, operating allowances and write-downs Depreciation of right of use assets 7,357 10,112 Finance costs Interest expense on lease liabilities 1,100 1,358 Exchange differences Currency translation losses on lease liabilities 1,237 (1,610) Currency translation gains on right of use assets (1,838) 2,138 Leases are presented as follows in the Statement of cash flows: 2021 2020 US$'000 US$'000 Payments for: Principal 10,185 10,315 Interest 1,100 1,358

Debt instruments

Debt instruments	12 Months Ended
Debt instruments	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Debt instruments	18. Debt instruments Debt instruments comprise the following at December 31: 2021 2020 US$'000 US$'000 Notes carried at amortised cost Secured Super Senior Notes 60,000 — Secured Reinstated Senior Notes 351,003 — Unsecured Stub Notes 4,942 350,000 Unamortised issuance costs (6,064) (3,380) Accrued coupon interest 30,416 10,888 Total 440,297 357,508 Amount due for settlement within 12 months 35,359 10,888 Amount due for settlement after 12 months 404,938 346,620 Total 440,297 357,508 On February 15, 2017, Ferroglobe and Globe (together, the “Issuers”) co-issued $350,000 thousand aggregate principal amount of 9.375% senior unsecured notes due March 1, 2022 (the “Notes”). The proceeds were used primarily to repay existing indebtedness, including borrowings, certain credit facilities and other loans. Interest on the Notes is payable semi-annually on March 1 and September 1 of each year, commencing on September 1, 2017. On March 27, 2021, Ferroglobe and Globe and certain other members of our group entered into the Lock-Up Agreement with the Ad Hoc Group Noteholders, Grupo VM and affiliates of Tyrus Capital that set forth a plan to implement a debt restructuring plan. On July 30,2021 the company announced the occurrence of the “Transaction Effective Date” under the lock-up agreement dated March 27, 2021 (the “Lock-Up Agreement”) between the Parent and the financial stakeholders. The Transaction Effective Date marks the completion of the financing process. As part of the transaction: ● The Company completed the exchange of 98.588% of the 9 ⅜% Senior Notes due 2022 (the “Stub Notes”) issued by the Ferroglobe and Globe for a total consideration per $1,000 principal amount of Old Notes comprising (i) $1,000 aggregate principal amount of new 9 ⅜% senior secured notes due 2025 issued by Ferroglobe Finance Company, PLC and Globe ( “the Issuers”) (the “Reinstated Senior Notes”) plus (ii) a fee amounting to $51,611 thousand. Notes not exchanged (the “Stub Notes”) are due on March 1, 2022. ● Ferroglobe Finance Company, PLC (a new, subsidiary of the Company) issued $60 million in aggregate proceeds of new 9% senior secured notes due 2025 (the “Super Senior Notes”). At the completion of the comprehensive refinancing, we recognized a charge of $90.8 million (See Note 26.4). This relates to all the advisory fees and expenses, including equity granted to the noteholders, incurred during the refinancing of the prior 9.375% Senior Notes due 2022, which were deemed to be extinguished at closing and replaced with new 9.375% million Senior Notes due 2025. For accounting purposes the refinancing of the Senior Notes has been considered a debt extinguishment. As a consequence: (i) We recognized a finance expense amounting to $31.7 million related to the advisory fees incurred in the exchange of the notes, (ii) Similarly to the transaction fees, the shares issued to the bondholders and the work fee were recognized as a one-off expense, amounting $51.6 million at market value. (iii) In the case of an extinguishment, any outstanding upfront fees that had been capitalized at the issuance of the original notes needs to be recycled through profit and loss, this amounted $1 million. Additionally, as a result of the refinancing, the gross carrying amount of the amortized cost of the Reinstated Notes has been adjusted to reflect actual and revised estimated contractual cash flows. The gross carrying amount of the Reinstated Notes has been recalculated as the present value of the estimated future contractual cash flows that are discounted at the effective interest rate of 9.096%. The adjustment amounts to $6,462 and it was recognized as an expense in the income statement. After the exchange the Senior notes were accounted under the amortized cost method. The fair value of the Reinstated Senior Notes maturing on December 31, 2025, determined by reference to the closing market price on the last trading day of the year (Level 1), was $354,084 thousand. The fair value of the Super Senior Notes maturing on June 30, 2025, determined by reference to the closing market price on the last trading day of the year (Level 1), was $60,742 thousand. The fair value of the Stub Notes maturing on March 1, 2022, determined by reference to the closing market price on the last trading day of the year (Level 1), was $5,082 thousand. Super Senior Notes On May 17, 2021, Ferroglobe Finance Company, PLC (a new, subsidiary of the Company, “The UK issuer”) issued a tranche of the Super Senior Notes, comprising an initial $40 million of an aggregate of $60 million 9.0% senior secured notes due 2025. Additional Super Senior Notes were issued on July 29, 2021 such that a total of $60 million in aggregate principal amount was outstanding on such date. The Super Senior Notes are governed by an indenture (the “Super Senior Notes Indenture”) entered into by, among others, the UK Issuer, GLAS Trustees Limited, as trustee, Global Loan Agency Services Limited, as paying agent, GLAS Trust Corporation Limited, as security agent, and the guarantors named therein (the “Super Senior Notes Guarantors”). The Super Senior Notes mature on June 30, 2025 and are secured by certain share pledges, bank account pledges, intercompany receivables pledges, inventory pledges and security over certain mine concessions, real property, leases and other assets. The Super Senior Notes, and the guarantees thereof, are general secured, senior obligations of the UK Issuer and the Super Senior Notes Guarantors, as applicable, and rank senior in right of payment to any and all of the existing and future indebtedness of the UK Issuer and the Super Senior Notes Guarantors, as applicable, that is expressly subordinated in right of payment to the Super Senior Notes and such guarantees, as applicable. The Super Senior Notes Indenture require us to offer to repurchase all or any part of each holder’s Super Senior Notes upon the occurrence of a change of control, as defined in the Super Senior Notes Indenture, at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest thereon, to the date of purchase. The Super Senior Notes Indenture restricts, among other things, the ability of Ferroglobe and its restricted subsidiaries to: o borrow or guarantee additional indebtedness; o pay dividends, repurchase shares and make distributions of certain other payments; o make certain investments; o create certain liens; o merge or consolidate with other entities; o enter into certain transactions with affiliates; o sell, lease or transfer certain assets, including shares of any restricted subsidiary of Ferroglobe; and o guarantee certain types of other indebtedness of Ferroglobe and its restricted subsidiaries without also guaranteeing the Super Senior Notes. Reinstated Senior Notes Pursuant to the Exchange Offer, Ferroglobe PLC, the UK Issuer and Globe offered to eligible holders of the Old Notes the opportunity to exchange any and all of the Old Notes for new 9 The Reinstated Notes are governed by an indenture (the “Reinstated Notes Indenture”) entered into by, among others, Ferroglobe Finance Company PLC and Globe, as issuers, GLAS Trustees Limited, as trustee, Global Loan Agency Services Limited, as paying agent, GLAS Trust Corporation Limited, as security agent, and the guarantors named therein. The Reinstated Notes are guaranteed on a senior basis by Ferroglobe and each subsidiary of Ferroglobe that guarantees the UK Issuer’s obligations under the Super Senior Notes (other than Globe) (the “Reinstated Notes Guarantors”). The Reinstated Notes mature on December 31, 2025 and are secured by the same collateral that secures the Super Senior Notes. The Reinstated Notes, and the guarantees thereof, are general secured, senior obligations of Ferroglobe Finance Company PLC and Globe and the Reinstated Notes Guarantors, as applicable, and will rank senior in right of payment to any and all of the existing and future indebtedness of Ferroglobe, Globe and the Reinstated Notes Guarantors, as applicable, that is expressly subordinated in right of payment to the Reinstated Notes and such guarantees, as applicable. The Reinstated Notes Indenture require us to offer to repurchase all or any part of each holder’s Reinstated Notes upon the occurrence of a change of control, as defined in the Reinstated Notes Indenture, at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest thereon, to the date of purchase. The Reinstated Notes Indenture restricts, among other things, the ability of Ferroglobe and its restricted subsidiaries to: o borrow or guarantee additional indebtedness; o pay dividends, repurchase shares and make distributions of certain other payments; o make certain investments; o create certain liens; o merge or consolidate with other entities; o enter into certain transactions with affiliates; o sell, lease or transfer certain assets, including shares of any restricted subsidiary of Ferroglobe; and o guarantee certain types of other indebtedness of Ferroglobe and its restricted subsidiaries without also guaranteeing the Reinstated Notes. Compared to the Old Notes Indenture (prior to certain amendments on July 29, 2021) the Reinstated Notes Indenture have generally more stringent restrictive covenants. Some of these differences include, among others, the following: o the elimination of baskets or a reduction of basket sizes in the debt covenant, restricted payment covenant, permitted investments, o permitted liens and asset disposition; o the addition of a net leverage test in the debt covenant and reduced flexibility in financial calculations; o requirement to apply certain excess proceeds to repay debt in accordance with the applicable intercreditor agreement; o lower event of default thresholds; and o a 90% guarantor coverage test. Stub Notes The Stub Notes are senior unsecured obligations of the Issuers and are guaranteed on a senior basis by certain subsidiaries of Ferroglobe. The Notes are listed on the Irish Stock Exchange. As of December 31, 2021 $4.9 million in aggregate principal amount of the Old Notes was outstanding. This balance was settled on March 1, 2022. The Old Notes are governed by the Old Notes Indenture entered into by, among others, Ferroglobe and Globe, as issuers, Wilmington Trust, National Association, as trustee, registrar and paying agent, and the guarantors named therein (the “Old Notes Guarantors”). The Old Notes and the guarantees thereof are general unsecured, senior obligations of Ferroglobe and Globe and the Old Notes Guarantors, as applicable, and rank senior in right of payment to any and all of the existing and future indebtedness of Ferroglobe, Globe and the Old Notes Guarantors, as applicable, that is expressly subordinated in right of payment to the Old Notes and such guarantees, as applicable. Ferroglobe and Globe may redeem all or, from time to time, part of the Old Notes at a redemption price of 100% of the principal amount of the Old Notes being redeemed plus accrued and unpaid interest and additional amounts, if any, to, but not including, the applicable redemption date.

Other financial Liabilities

Other financial Liabilities	12 Months Ended
Other financial Liabilities	Dec. 31, 2021
Disclosure of financial liabilities [abstract]
Other financial liabilities	19. Other financial liabilities Other financial liabilities comprise the following at December 31: 2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Financial loans from government agencies 4,549 62,464 67,013 29,094 34,802 63,896 Derivative financial instruments — — — — — Total 4,549 62,464 67,013 29,094 34,802 63,896 Financial loans from government agencies On September 8, 2016, FerroAtlántica, S.A.U, as borrower, and the Spanish Ministry of Industry, Tourism and Commerce (the “Ministry”), as lender, entered into two loan agreements under which the Ministry made available to the borrower loans in aggregate principal amount of €44,999 thousand and €26,909 thousand, respectively, in connection with industrial development projects relating to the Company’s solar grade silicon project. The loan is contractually due to be repaid in 7 installments over a 10-year The agreements governing the loans contain the following limitations on the use of the proceeds of the outstanding loan: (1) the investment of the proceeds must occur between January 1, 2016 and February 24, 2019; (2) the allocation of the proceeds must adhere to certain approved budget categories; (3) if the final investment cost is lower than the budgeted amount, the borrower must reimburse the Ministry proportionally; and (4) the borrower must comply with certain statutory restrictions regarding related party transactions and the procurement of goods and services. On May 24, 2019, a report on uses of the loan was presented to the Ministry. On January 26, 2021, the Company received a decision from the Administration under which it was agreed to extend the grace period and the term of loan, and it will be completed by 2030. On January 25, 2022, the Ministry opened a hearing to decide on reimbursement of the loan. The company presented its allegations on February 15, 2022. Based on those allegations, the reimbursement procedure has been suspended and a new final report is expected to be made by the Ministry by the end of 2022 ending the administrative procedure and establishing the definitive amount of the partial reimbursement to be made. Due to this event, the company has decided to reclassify the financial loan to the short term. The remaining non-current and current balances are related to loans granted mainly by Canadian and Spanish government agencies. Derivative financial instruments The Company does not hold derivative financial instruments as of December 31, 2021 and December 31, 2020. Cross currency swap The Company's operations generate cash flows predominantly in Euros and US dollars. The Company is been exposed to exchange rate fluctuations between these currencies as it expected to convert Euros into US dollars to settle a proportion of the interest and principal of the Notes (see Note entered a cross-currency swap (the “CCS”) on May 12, 2017 where on a semi-annual basis received interest of 9.375% on a notional of $192,500 thousand and pay interest of 8.062% on a notional of €176,638 thousand and it was expected to exchange these Euro and US dollar notional amounts at maturity of the Notes in 2022. The timing of payments of interest and principal under the CCS coincided exactly with those of the Notes. In March, 2020, the Company closed out the cross currency swap resulting in the receipt of cash proceeds of $3,608 thousand. The fair value of the CCS at December 31, 2020 was $ nil Note The Parent Company, which had an Euro functional currency, designated $150,000 thousand of the notional amount of the CCS as a cash flow hedge of the variability of the Euro functional currency equivalents of the future US dollar cash flows of $150,000 thousand of the principal amount of the Notes. In March, 2020, the CCS hedging foreign exchange risk of the Notes was closed out resulting in a change in fair value of $11,161 thousand since the last year end closing. As 77% of the derivative was designated as hedging instrument in a cashflow hedge relationship, $3,168 thousand were recognized in finance income in the income statements for the non-designated portion (2019: $2,729 thousand) and $11,161 thousand were recognized through other comprehensive income in the valuation adjustments reserve (2019: $9,663 thousand gain). Considering that the hedged item remained as a highly probable transaction, the corresponding valuation adjustment reserve should be reclassified to the income statement as the hedged item affects profit or loss over the period to maturity of the Notes. In that sense, during the period of 2020 amounts transferred from the valuation adjustments reserve to the income statement comprised a gain of $5,090 thousand transferred to exchange differences (2019: $2,874 thousand) and a gain of $429 thousand transferred to finance costs (2019: $1,639 thousand). At December 31, 2020, a balance of $(2,226) thousand in respect of the cash flow hedge of the CCS remained in the valuation adjustment reserve. At December 31, 2021, as consecuence of the extinguishment of the original financial liability, the remaining cash flow hedge of the CCS was accounted through profit or loss. At December 31, 2020, the remaining $42,500 thousand of the notional amount of the CCS was not designated as a cash flow hedge before closed out and was accounted for at fair value through profit or loss, resulting in a gain of $3,164 thousand for the year ended December 31, 2020, which is recorded in financial derivative gain in the consolidated income statement (2019: $2,736 thousand). Interest rate swaps The Company previously entered into interest rate swaps to manage the risk of changes in interest rates on certain non-current and current obligations. Since June 30, 2015, the interest rate swaps have been considered as ineffective hedges and as a result the changes in fair value of these derivatives are recognized through profit or loss. During the year ended December, 31, 2019 the Company disposed of the swap relating to the lease of hydroelectrical installations as part of the sale of its 100% interest in subsidiary FerroAtlántica, S.A.U. (“FAU”) to investment vehicles affiliated with TPG Sixth Street Partners.

Trade and other payables

Trade and other payables	12 Months Ended
Trade and other payables	Dec. 31, 2021
Trade and other payables.
Trade and other payables	20. Trade and other payables Trade and other payables comprise the following at December 31: 2021 2020 US$'000 US$'000 Payable to suppliers 200,999 147,512 Trade notes and bills payable 5,001 1,689 Total 206,000 149,201

Other Obligations

Other Obligations	12 Months Ended
Other Obligations	Dec. 31, 2021
Other Obligations
Other Obligations	21. Other Obligations Other obligations comprise the following at December 31: 2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Payable to non-current asset suppliers 135 2,677 2,812 130 2,633 2,763 Guarantees and deposits 14 4,554 4,568 17 266 283 Contingent consideration 13,504 13,023 26,527 14,859 1,773 16,632 Tolling agreement liability 24,429 2,589 27,018 — — — Total 38,082 22,843 60,925 15,006 4,672 19,678 In 2021 we disaggregated “Other liabilities” into an additional line to the balance sheet “Other obligations“ to separately present certain contractual obligations whose nature and function differs from other items presented in the “Other liabilities line”, so as to allow a better understanding of the Company´s financial position. Obligations contained in the new line Other obligations: “Tolling agreement liability”, which used to be presented within “Provisions”; “Glencore earn-out liability”, “Payable to non-current asset suppliers” and “Guarantees and deposits”, which were presented in prior periods within “Other liabilities”, and have been classified as Other obligations for all the years presented. Contingent consideration On February 1, 2018 the Company acquired 100% of the outstanding ordinary shares of Kintuck (France) SAS and Kintuck AS from a wholly-owned subsidiary of Glencore International AG (“Glencore”) and obtained control of both entities. The new subsidiaries were renamed as Ferroglobe Mangan Norge AS and Ferroglobe Manganèse France SAS. The Company completed the acquisition through its wholly-owned subsidiary Ferroatlántica., see Note The contingent consideration arrangement requires the Company to pay the former owners of Kintuck (France) SAS and Kintuck AS a sliding scale commission based on the silicomanganese and ferromanganese sales spreads of Ferroglobe Mangan Norge and Ferroglobe Manganèse France, up to a maximum amount of $60,000 thousand (undiscounted). The contingent consideration applies to sales made up to eight The potential undiscounted amount of all future payments that the Company could be required to make under the contingent consideration arrangement is between $nil The fair value of the contingent consideration arrangement as at December, 31, 2021 of $26,537 thousand (2020: $16,632 thousand) was estimated by applying the income approach based on a Monte Carlo simulation considering various scenarios of fluctuation of future manganese alloy spreads as well at the cyclicality of manganese alloy pricing. The fair value measurement is based on significant inputs that are not observable in the market, which IFRS 13 Fair Value Measurement refers to as Level 3 inputs. Key assumptions include discount rates of 10.7 percent and 10.9 percent for Ferroglobe Mangan Norge and Ferroglobe Manganèse France respectively (2020: 12.5 percent and 11.5 percent), prices, spread and cost assumptions. Average simulated revenues in Ferroglobe Mangan Norge and Ferroglobe Manganèse France are between $245,292 thousand and $311,050 thousand per year (2020: between $135,868 thousand and $262,441 thousand). The liability has increased primarily driven by an increase in forecasted volumes and prices as a result of the current market outlook, increased operational costs and the combined impact of FX and inflation forecasts, this was partially offset by an increase in the variable and fixed costs. Changes in the value of contingent consideration are presented in the income statement Raw materials and energy consumption for production. Sensitivity to changes in assumptions Changing assumptions, could significantly affect the evaluation of the fair value of the contingent consideration. The following changes to the assumptions used in the Monte Carlo simulation could lead to the following changes in the fair value: Sensibility on discount rate Contigent consideration Decrease Increase December 31, 2021 by 10% by 10% Fair value contingent consideration 26,526 26,922 26,145 Tolling agreement liability On August 30, 2019, Grupo FerroAtlántica, S.A.U. sold its 100% interest in the remainder of FerroAtlántica, S.A.U. to Kehlen Industries Management, S.L.U., an affiliate of U.S.-based TPG Sixth Street Partners. The FerroAtlántica, S.A.U. assets transferred by means of this transaction included ten hydroelectric power plants and the Cee-Dumbría ferroalloys manufacturing plant, all located in the province of A Coruña, Spain. Under the terms of the transaction, the Group will become exclusive off-taker of finished products produced at the smelting plant at C and supplier of key raw materials to that facility pursuant to a tolling agreement expiring in 2060. In November 2020, the Tribunal Superior de Justicia de Galicia dismissed the request of separation of the Cee-Dumbria's hydroelectric plants and the ferroalloys plants. Grupo FerroAtlantica, S.A.U. appealed to the Supreme Court, in 2021 the appeal was dismissed. At December 31, 2021, the liability recognized amounts to $27,018 thousand (€23,855 thousand). After the Supreme Court dismissal of appeal, there is no longer uncertainty in time and amounts, therefore the liability has been reclassified from “Provisions” to “Other obligations”.

Other liabilities

Other liabilities	12 Months Ended
Other liabilities	Dec. 31, 2021
Other liabilities
Other liabilities	22. Other liabilities Other liabilities comprise the following at December 31: 2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Remuneration payable — 36,046 36,046 20 27,552 27,572 Tax payables — 17,613 17,613 — 23,177 23,177 Other liabilities 1,476 20,669 22,145 1,741 10,592 12,333 Total 1,476 74,328 75,804 1,761 61,321 63,082 Tax payables Tax payables comprise the following at December 31: 2021 2020 Current Total Current Total US$'000 US$'000 US$'000 US$'000 VAT 4,839 4,839 4,061 4,061 Accrued social security taxes payable 6,251 6,251 13,266 13,266 Personal income tax withholding payable 820 820 1,111 1,111 Other 5,703 5,703 4,739 4,739 Total 17,613 17,613 23,177 23,177 Share-based compensation a. Equity Incentive Plan On May 29, 2016, the board of Ferroglobe PLC adopted the Ferroglobe PLC Equity Incentive Plan (the “Plan”) and on June 29, 2016 the Plan was approved by the shareholders of the Company. The Plan is a discretionary benefit offered by Ferroglobe PLC for the benefit of selected senior employees of Ferroglobe PLC and its subsidiaries. The Plan’s main purpose is to reward and foster performance through share ownership. Awards under the plan may be structured either as conditional share awards or options with a $nil exercise price (nil cost options). The awards are subject to a service condition of three years from the date of grant. Details of the Plan awards during the current and prior years are as follows: Number of awards Outstanding as of December 31, 2019 2,175,853 Granted during the period 1,411,271 Exercised during the period (175,150) Outstanding as of December 31, 2020 3,411,974 Granted during the period 1,307,934 Exercised during the period (309,462) Expired/forfeited during the period (51,010) Outstanding as of December 31, 2021 4,359,436 Exercisable as of December 31, 2021 455,790 The awards outstanding under the Plan at December 31, 2021 and December 31, 2020 were as follows: Fair Value at Grant Date Performance Period Expiration Date Exercise Price Grant Date 2021 2020 September 9, 2021 December 31, 2023 September 9, 2031 nil $ 8.83 1,307,934 — December 16, 2020 December 31, 2024 December 16, 2030 nil $ 1.23 1,411,271 1,411,271 March 13, 2019 December 31, 2022 March 13, 2029 nil $ 2.69 1,184,441 1,184,441 June 14, 2018 N/A June 13, 2028 nil $ 9.34 70,774 85,739 March 21, 2018 December 31, 2021 March 20, 2028 nil $ 22.56 136,434 263,153 June 20, 2017 December 31, 2020 June 20, 2027 nil $ 15.90 — 17,342 June 1, 2017 N/A June 1, 2027 nil $ 10.96 834 834 June 1, 2017 December 31, 2020 June 1, 2027 nil $ 16.77 168,469 304,811 November 24, 2016 December 31, 2019 November 24, 2026 nil $ 16.66 79,279 144,383 4,359,436 3,411,974 The awards outstanding as of December 31, 2021 had a weighted average remaining contractual life of 8.37 years (2020: 11.93 years). The weighted average share price at the date of exercise for stock options exercised in the year ended December 31, 2021 was $5.28. At December 31, 2021, 4,287,828 of the outstanding awards were subject to performance conditions (2020: 3,325,401 awards). For those awards subject to performance conditions, upon completion of the three years service period, the recipient will receive a number of shares or nil cost options of between 0% and 200% of the above award numbers, depending on the financial performance of the Company during the performance period. The performance conditions can be summarized as follows: Vesting Conditions 40% based on share price 30% based on Operating (Loss) profit plus depreciation and amortization charges 30% based on net cash flow There were no performance obligations linked to 71,608 of the awards outstanding at December 31, 2021 (2020: 86,573 awards). These awards were issued as deferred bonus awards and vest subject to remaining in employment for three years. Fair Value The weighted average fair value of the awards granted during the year ended December 31, 2021 was $8.83 (2020: $1.23). The Company estimates the fair value of the awards using Stochastic and Black-Scholes option pricing models. Where relevant, the expected life used in the model has been adjusted for the remaining time from the date of valuation until options are expected to be received, exercise restrictions (including the probability of meeting market conditions attached to the option), and performance considerations. Expected volatility is calculated over the period commensurate with the remainder of the performance period immediately prior to the date of grant. The following assumptions were used to estimate the fair value of the awards: Grant date September 9, 2021 December 16, 2020 March 13, 2019 March 21, 2018 June 20, 2017 June 01, 2017 November 24, 2016 Fair value at grant date $ 8.83 $ 1.23 $ 2.69 $ 22.56 $ 1,590 $ 16.77 $ 11.81 Grant date share price $ 8.57 $ 1.61 $ 2.44 $ 15.19 $ 1,050 $ 10.96 $ 11.81 Exercise price 0.01 Nil Nil Nil Nil Nil Nil Expected volatility 104.75 % 91.30 % 53.54 % 49.86 % 43.15 % 43.09 % 44.83 % Option life 2.31 years 4.00 years 3.00 years 3.00 years 3.00 years 3.00 years 3.00 years Dividend yield — — — % — % — % — % — % Risk-free interest rate 0.28 % 0.27 % 2.40 % 2.48 % 1.52 % 1.44 % 1.39 % Remaining performance period at grant date (years) 2.31 4.04 2.81 2.78 2.53 2.58 2.10 Company TSR at grant date NA NA (48.1) % 2.1 % (0.3) % 4.0 % 40.0 % Median comparator group TSR at grant date NA NA (4.8) % (6.2) % (7.2) % (3.7) % 56.4 % Median index TSR at grant date NA NA 10.9 % (8.4) % 0.6 % 4.8 % 45.7 % At the date of grant for these awards, all of the opening averaging period and some of the performance period had elapsed. The Company’s TSR relative to the median comparator group TSR and median index TSR at grant date may impact the grant date fair value; starting from an advantaged position increases the fair value and starting from a disadvantaged position decreases the fair value. To model the impact of the TSR performance conditions, we have calculated the volatility of the comparator group using the same method used to calculate the Company’s volatility, using historical data, where available, which matches the length of the remaining performance period grant date. The Company’s correlation with its comparator group was assessed on the basis of all comparator group correlations, regardless of the degree of correlation, have been incorporated into the valuation model. For the year ended December 31, 2021, share-based compensation expense related to this stock plan amounted to $3,627 thousand, which is recorded in staff costs (2020: $2,017 thousand). Prior to the business combination, shares of Globe Specialty Metals common stock were registered pursuant to Section 12(b) of the Exchange Act and listed on NASDAQ. As a result of the business combination between Ferroglobe and Globe, each share of Globe common stock was converted into the right to receive one Ferroglobe ordinary share. The shares of Globe common stock were suspended from trading on NASDAQ effective as of the opening of trading on December 24, 2015. Ferroglobe ordinary shares were approved for listing on The NASDAQ Global Market. At the effective time of the business combination, GSM stock and stock-based awards were replaced with stock and stock-based awards of Ferroglobe in a one to one exchange. There were not options exercised or expired during the year ended December 31, 2021 and 2020. A summary of options outstanding is as follows: Weighted- Average Weighted- Remaining Average Contractual Aggregate Number of Exercise Term in Intrinsic Options Price Years Value Outstanding as of December 31, 2019 26,268 $ 16.70 0.16 $ — Expired/forfeited during the period Outstanding as of December 31, 2020 26,268 $ 16.70 0.16 $ — Expired/forfeited during the period — Outstanding as of December 31, 2021 26,268 $ 16.70 0.16 $ — Exercisable as of December 31, 2021 26,268 $ 16.70 0.16 $ — For the year ended December 31, 2021, share based compensation expense related to stock options under this plan was $120 thousand (2020: $18 thousand). The expense is reported within staff costs in the consolidated income statement. b. Executive bonus plan assumed under business combination with Globe Prior to the business combination, Globe also issued restricted stock units under the Company’s Executive Bonus Plan. The fair value of restricted stock units is based on quoted market prices of the Company’s stock at the end of each reporting period. These restricted stock units proportionally vest over three years, but are not delivered until the end of the third year. The Company will settle these awards by cash transfer, based on the Company’s stock price on the date of transfer. For the year ended December 31, 2021, no restricted options were exercised and for the year ended December 31, 2020, no restricted options were exercised. As of December 31, 2021, and 2020, restricted stock units of 26,268 were outstanding. For the year ended December 31, 2021, share based compensation expense for these restricted stock units was $120 thousand (2020: $18 thousand income before tax and $11 thousand income after tax). The expense is reported within staff costs in the consolidated income statement. At December 31, 2021 and 2020, the liability associated with the restricted stock option was $163 thousand and $43 thousand, respectively included in other current liabilities. c. Stock appreciation rights assumed under business combination with Globe Globe issued cash-settled stock appreciation rights as an additional form of incentivized bonus. Stock appreciation rights vest and become exercisable in one

Tax matters

Tax matters	12 Months Ended
Tax matters	Dec. 31, 2021
Tax matters
Tax matters	23. Tax matters The components of current and deferred income tax expense (benefit) are as follows: 2021 2020 2019 US$'000 US$'000 US$'000 Consolidated income statement Current income tax Current income tax charge 5,284 4,307 2,133 Adjustments in current income tax in respect of prior years — 901 4,753 Adjustments in current income tax due to discounted operations — — — Total 5,284 5,208 6,886 Deferred tax Origination and reversal of temporary differences (9,954) (20,961) (48,618) Impact of tax rate changes - — (46) Impairment of deferred tax assets - 37,660 — Adjustments in deferred tax in respect of prior years 108 33 237 Total (9,846) 16,732 (48,427) Income tax expense (benefit) (4,562) 21,939 (41,541) As the Company has significant business operations in Spain, France, South Africa and the United States, a weighted effective tax rate is considered to be appropriate in estimating the Company’s expected tax rate. The following is a reconciliation of tax expense based on a weighted blended statutory income tax rate to our effective income tax expense for the years ended December 31, 2021, 2020, and 2019: 2021 2020 2019 US$'000 US$'000 US$'000 Accounting profit/(loss) before income tax (119,936) (222,420) (411,818) Adjustment for discontinued operations — (5,399) (28,135) Accounting profit/(loss) before income tax (119,936) (227,819) (439,954) At weighted effective tax rate of 18% (2020: 24% and 2019: 24%) (22,650) (54,294) (105,369) Non-taxable income/(expenses) — — (17,020) Non-deductible income/ (expenses) (11,399) 6,779 49,390 Movements in unprovided deferred tax — — 4,604 Differing territorial tax rates 2,603 3,064 (3,987) Adjustments in respect of prior periods — (50) 2,160 Other items 27,885 70,123 20,407 Elimination of effect of interest in joint ventures (782) 899 917 Other permanent differences (673) (389) 9,234 Incentives and deductions 88 (2,456) (1,302) US State taxes 367 (1,737) (824) Taxable capital gains — — 249 Adjustments in current income tax due to discontinued operations — — — Income tax expense (benefit) (4,562) 21,939 (41,541) Other items mainly comprise unrecognised temporary differences for tax losses. Deferred tax assets and liabilities For the year ended December 31, 2021: Opening Prior Year Recognised in Impairment of Reclassifications Exchange Closing Balance Charge P&L Deferred Tax Assets Differences Balance US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Intangible assets (458) 21 (34) — — 20 (451) Biological assets (1) — 1 — — — — Provisions 14,235 (7) 8,503 — (986) (73) 21,673 Property, plant & equipment (48,263) (585) (7,481) — 3,238 860 (52,231) Inventories 64 — (64) — — — Tax losses 9,525 — 1,491 — (3,959) (704) 6,353 Incentives & credits 1,426 — 7,906 — — 1 9,333 Partnership interest (8,983) — 469 — — — (8,514) Other 4,674 — (266) — 1,256 39 5,703 Total (27,781) (571) 10,525 — (451) 143 (18,135) For the year ended December 31, 2020: Opening Prior Year Recognised in Impairment of Reclassifications Exchange Closing Balance Charge P&L Deferred Tax Assets Differences Balance US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Intangible assets (414) — (44) — — — (458) Biological assets (1) — — — — — (1) Provisions 15,928 — 2,757 (3,357) (1,655) 562 14,235 Property, plant & equipment (64,697) — 16,094 (219) 434 125 (48,263) Inventories (2,542) — 639 — 1,993 (26) 64 Tax losses 41,728 — (1,073) (33,162) (154) 2,187 9,525 Incentives & credits 2,139 — — (921) 169 40 1,426 Partnership interest (9,890) — 1,647 — (740) — (8,983) Other 3,243 — 909 — 533 (10) 4,674 Total (14,506) — 20,928 (37,660) 580 2,878 (27,781) Presented in the statement of financial position as follows: 2021 2020 US$'000 US$'000 Deferred tax assets 45,246 31,528 Deferred tax liabilities (63,381) (59,309) Offset between deferred tax assets and deferred tax liabilities 38,236 31,528 Total deferred tax assets due to temporary differences recognized in the statement of financial position 7,010 — Total deferred tax liabilities due to temporary differences recognized in the statement of financial position (25,145) (27,781) Unrecognised deductible temporary differences, unused tax losses and unused tax credits 2021 2020 US$'000 US$'000 Unused tax losses 624,635 513,189 Unused tax credits 8,487 8,685 Unrecognised deductible temporary differences 135,174 106,952 Total 768,296 628,826 In general terms, neither the NOLs nor the tax credits have an expiration date in the jurisdictions where they derive from. Unused tax losses and unrecognized deductible temporary differences have increased in 2021 compared to 2020 due to the losses in most of the jusrisdictions during 2021. Throughout 2021 a debt restructuring has been undertaken, being completed in July 2021. For the purpose of the debt restructuring, a group reorganization has been completed in order to attend the specific needs and requirements posed by the bondholders for the purpose of securing their investment. This group restructuring has consisted of the incorporation of two subsidiaries sitting under Ferroglobe PLC. These two entities, which are tax resident in the United Kingdom, are Ferroglobe Holding Company Limited and Ferroglobe Finance Company PLC. Additionally, within the framework of the debt restructuring, the exchanged and the new bonds have been secured with guarantees over the subsidiaries of the Ferroglobe group and their assets. Within the framework of the group reorganization, Ferroglobe PLC has transferred to Ferroglobe Holding Company Limited its stake in Globe Specialty Metals, Inc. and Grupo Ferroatlántica, S.A.U. Likewise, within the debt restructuring and group reorganization Ferroglobe PLC has assigned to Ferroglobe Finance Company PLC the original issued bonds which bondholders approved the debt restructuring in exchange for intercompany notes. All the tax implications arising from the debt restructuring and group reorganization have been analysed and it has set forth guidelines for the operatives put in place as a result of these transactions. For United States purposes, the main tax concern was the eventual triggering of cancellation of debt income as a result of the difference in carrying value of the original bonds compared to the new bonds at the time of first trading. For such reasons it was analysed the tax base of all assets and subsidiaries of Globe Specialty Metals, Inc. since this type of income can be set off against property of the entity generating thereof. No taxable income of such nature was generated since the trading value of the new bonds was higher from inception compared to the trading value of the old bonds. Likewise, it was concluded that the transfer of the shares of Globe Specialty Metals, Inc. did not trigger any taxable event because Ferroglobe Holding Company Ltd was duly checked open for tax purposes and consequently this transfer of shares was disregarded for United States tax purposes. From a United Kingdom perspective, also the main concern was the eventual taxable event resulting from the difference in carrying value of the exchanged debt instruments. No taxation arose in this regard. The debt restructuring cost has been recharged to the entities of the group benefiting therefrom in line with arm’s length principles and following the accounting treatment of such type of costs. The transfer of the shares of Globe Specialty Metals, Inc. and Grupo Ferroatlántica, S.A.U. should be treated as a tax neutral reorganization and thus non-taxable in the United Kingdom. The equity issuance did not result in a change of control event for Ferroglobe PLC and consequently no limitation on its tax attributes resulted. It was also a relevant topic the risk of falling into the pro-rata rule for value added tax purposes as a result of the intercompany financing put in place to allocate the bonds and the intercompany balances from Ferroglobe PLC to Ferroglobe Finance Company PLC and Ferroglobe Holding Company Limited respectively. To avoid this risk, a value add tax group was put in place in the United Kingdom amongst these three entities. Additionally, it was analysed and concluded that no taxation arose neither in the United Kingdom nor in the respective jurisdiction of the subsidiaries of the Ferroglobe group as a result of the direct or indirect transfer of their shares when being contributed down by Ferroglobe PLC to Ferroglobe Holding Company Limited. Management of tax risks The Company is committed to conducting its tax affairs consistent with the following objectives: (i) to comply with relevant laws, rules, regulations, and reporting and disclosure requirements in whichever jurisdiction it operates; (ii) to maintain mutual trust, transparency and respect in its dealings with all tax authorities; and (iii) to adhere with best practice and comply with the Company's internal corporate governance procedures, including but not limited to its Code of Conduct For further details please refer to the group's tax strategy which can be found here: http://investor.ferroglobe.com/corporate-governance. The Group's tax department maintains a tax risk register on a jurisdictional basis. In the jurisdictions in which the Company operates, tax returns cannot be deemed final until they have been audited by the tax authorities or until the statute-of-limitations has expired. The number of open tax years subject to examination varies depending on the tax jurisdiction. In general, the Company has the last four years open to review. The criteria that the tax authorities might adopt in relation to the years open for review could give rise to tax liabilities which cannot be quantified.

Related party transactions and

Related party transactions and balances	12 Months Ended
Related party transactions and balances	Dec. 31, 2021
Related party transactions and balances
Related party transactions and balances	24. Related party transactions and balances Continued operations Balances with related parties at December 31 are as follows: 2021 Receivables Payables Non-Current Current Non-Current Current US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — 2,841 — — Villar Mir Energía, S.L.U. 1,699 — — 8,808 Espacio Information Technology, S.A.U. — — — 737 Other related parties — — — — Total 1,699 2,841 — 9,545 2020 Receivables Payables Non-Current Current Non-Current Current US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — 3,078 — — Villar Mir Energía, S.L.U. 2,454 — — 2,458 Espacio Information Technology, S.A.U. — — — 701 Other related parties — (2) — 37 Total 2,454 3,076 — 3,196 The loan granted to Inmobiliaria Espacio, S.A. accrues a market interest (EURIBOR three month rate plus 2.75%) and has a maturity in the short-term that is renewed tacitly upon maturity. Unless the parties agree the repayment, the loan is extended it automatically for one The balance with the other related parties arose as a result of the commercial transactions performed with them (see explanation of main transactions below). Continuing operations Transactions with related parties in 2021, 2020 and 2019 are as follows: 2021 Sales and Raw materials Other Finance Operating and energy Operating Income Income consumption for production Expenses (Note 26.4) US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — — — — Villar Mir Energía, S.L.U. — 132,566 1,365 — Espacio Information Technology, S.A.U. — — 3,266 — Enérgya VM Gestión, S.L — — 120 — Aurinka — — 111 — Other related parties — — 68 — Total — 132,566 4,930 — 2020 Sales and Raw materials Other Finance Operating and energy Operating Income Income consumption for production Expenses (Note 26.4) US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — — — 16 Villar Mir Energía, S.L.U. — 39,900 647 — Espacio Information Technology, S.A.U. — — 3,171 — Enérgya VM Gestión, S.L — — 79 — Aurinka — 1 308 — Other related parties — — 3 — Total — 39,901 4,208 16 2019 Sales and Raw materials Other Finance Operating and energy Operating Income Income consumption for production Expenses (Note 26.4) US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — — 1 68 Villar Mir Energía, S.L.U. — 65,406 681 — Espacio Information Technology, S.A.U. — — 3,566 — Enérgya VM Generación, S.L 1 — 1 — Enérgya VM Gestión, S.L — 1 89 — Aurinka — — 3,206 — Other related parties 143 — 7 — Total 144 65,407 7,551 68 “Raw Materials and energy consumption for production” of the related parties vis-à-vis Villar Mir Energía, S.L.U. relates to the purchase of energy from the latter by the Company’s Europe – Manganese Alloys and Europe – Silicon Metals & Silicon Alloys segment. FerroAtlántica pays VM Energía a service charge in addition to paying for the cost of energy purchase from the market. Under contracts entered into with FAU on June 22, 2010 and December 29, 2010 (assigned to FerroAtlántica de Boo, S.L.U. (“FAU Boo”) and to FerroAtlántica de Sabon, S.L.U. (“FAU Sabon”) in August 2019 in anticipation of the FAU Disposal), and with Hidro Nitro Española on December 27, 2012 (assigned to FerroAtlántica del Cinca when Hidro Nitro Española was sold in December 2018), VM Energía supplies the energy needs of the Boo, Sabón and Monzón electrometallurgy facilities, as a broker for FAU BOO or FAU Sabon (now Grupo Ferroatlantica) and Hidro Nitro Española (now FerroAtlántica del Cinca) in the wholesale power market. The contracts allow FAU Boo or FAU Sabon (now Grupo Ferroatlantica) and Hidro Nitro Española (now FerroAtlántica del Cinca) to buy energy from the grid at market conditions without incurring costs normally associated with operating in the complex wholesale power market, as well as to apply for fixed price arrangements in advance from VM Energía, based on the energy markets for the power, period and profile applied for. For the fiscal year ended December 31, 2021, Grupo Ferrotlantica and FerroAtlantica del Cinca’s obligations to make payments to VM Energía under their respective agreements for the purchase of energy plus the service charge amounted to $102,066 thousand and $30,501 thousand, respectively. “Other operating expenses" corresponds to the payment to Espacio Information Technology, S.A. (“Espacio I.T.”), provides information technology and data processing services to Ferroglobe PLC and certain of its direct and indirect subsidiaries: FAU (until shortly prior to the FAU Disposal when such services were assigned to Grupo FerroAtlántica de Servicios, S.L.U. (“Servicios”)), FerroAtlántica de Mexico, Silicon Smelters (Pty), Ltd. and FerroPem, SAS pursuant to several contracts. Additionally corresponds to the Payment to Villar Mir Energia, S.L.U that provides the energy needs of the mining facilities operated by RAMSA and CISA in the wholesale power market. Discontinued operations At 31 December, 2020 and 2021, there were not discontinued transactions considered with Related Parties. Transactions with related parties in 2019 are as follows: 2019 Sales and Raw materials Other Operating and energy Operating Income consumption for production Expenses US$'000 US$'000 US$'000 Villar Mir Energía, S.L.U. — — 373 Enérgya VM Generación, S.L 12,635 — 117 Enérgya VM Gestión, S.L — 66 — Total 12,635 66 490

Guarantee commitments to third

Guarantee commitments to third parties and contingent liabilities	12 Months Ended
	Dec. 31, 2021
Guarantee commitments to third parties and contingent liabilities
Guarantee commitments to third parties and contingent liabilities	25. Guarantee commitments to third parties and contingent liabilities Guarantee commitments to third parties As of December 31, 2021 and 2020, the Company has provided bank guarantees commitments to third parties amounting $11,948 thousand and $19,969 thousand, respectively. Management believes that any unforeseen liabilities at December 31, 2021 and 2020 that might arise from the guarantees given would not be material. Contingent liabilities In the ordinary course of its business, Ferroglobe is subject to lawsuits, investigations, claims and proceedings, including, but not limited to, contractual disputes and employment, environmental, health and safety matters. Although we cannot predict with certainty the ultimate resolution of lawsuits, investigations, claims and proceedings asserted against it, we do not believe any currently pending legal proceeding to which it is a party will have a material adverse effect on its business, prospects, financial condition, cash flows, results of operations or liquidity. Stamp Tax litigation procedure On February 2021 the Central Economic-Administrative Court ruled against the interest of Ferroglobe in a stamp duty litigation procedure initiated in 2015, where the taxpayer is Abanca, the financial institution through which a sale and lease back of the electric production plants in Galicia was conducted in 2012. Ferroglobe has agreed with Abanca that it continues the litigation at the judiciary level by filing an appeal before the Audiencia Nacional. This filing has been completed in April 2021. As a result of the continuation of this litigation process, with the appropriate granting of bank guarantee by the taxpayer (Abanca), neither payment of the tax reassessment (circa 1.4MM Euro plus delay interest) nor of the penalty proposed (circa 600K Euro) are due at this stage of the process. We anticipate this stage will take between two Asbestos-related claims Certain employees of FerroPem, SAS, then known as Pechiney Electrometallurgie, S.A. (“PEM”), may have been exposed to asbestos at its plants in France in the decades prior to FerroAtlántica Group’s purchase of that business in December 2004. During the period in question, PEM was wholly-owned by Pechiney Bâtiments, S.A., which had certain indemnification obligations to FerroAtlántica pursuant to the 2004 Share Sale and Purchase Agreement under which our FerroAtlántica acquired PEM. As of December 31, 2021, approximately 100 such employees have “declared” asbestos-related injury to the French social security agencies. Approximately three quarters of these cases now have been closed. Of the remaining cases, approximately half include assertions of “inexcusable negligence” (“faute inexcusable”) which, if upheld, may lead to material liability in the aggregate on the part of FerroPem. Other employees may declare further asbestos-related injuries in the future, and may likewise assert inexcusable negligence. Litigation against, and material liability on the part of, FerroPem will not necessarily arise in each case, and to date a majority of such declared injuries have been minor and have not led to significant liability on Ferropem’s part. Whether liability for “inexcusable negligence” will be found is determined case-by-case, often over a period of years, depending on the evolution of the claimant’s asbestos-related condition, the possibility that the claimant was exposed while working for other employers and, where asserted, the claimant’s ability to prove inexcusable negligence on PEM’s part. Because of these and other uncertainties, no reliable estimate can be made of FerroPem’s eventual liability in these matters, with exception of three grave cases that were litigated through the appeal process and in which claimants’ assertions of inexcusable negligence were upheld against FerroPem. Liabilities in respect to asbestos-related claims have been recorded at December 31, 2021 at an estimated amount of $1,143 thousand in Provisions for litigation in progress ($1,080 thousand in 2020). Environmental matters Since 2016, GMI has been negotiating with the U.S. Department of Justice (the “DOJ”) and the U.S. Environmental Protection Agency (the “EPA”) to resolve two Notices of Violation/Findings of Violation (“NOV/FOV”) that the EPA issued to the Beverly facility. The first NOV/FOV was issued on July 1, 2015 and alleges certain violations of the Prevention of Significant Deterioration (“PSD”) and New Source Performance Standards provisions of the Clean Air Act associated with a 2013 project performed at GMI’s Beverly facility. Specifically, the July 2015 NOV/FOV alleges violations of the facility’s existing operating and construction permits, including allegations related to opacity emissions, sulfur dioxide and particulate matter emissions, and failure to keep necessary records and properly monitor certain equipment. The second NOV/FOV was issued on December 6, 2016, and arises from the same facts as the July 2015 NOV/FOV and subsequent EPA inspections. The second NOV/FOV alleges opacity exceedances at certain units, failure to prevent the release of particulate emissions through the use of furnace hoods at a certain unit, and the failure to install Reasonably Available Control Measures (as defined) at certain emission units at the Beverly facility. Since that time, GMI and the authorities have continued negotiations regarding potential resolution of the NOV/FOVs, which negotiations are ongoing. As part of the ongoing consent process to resolve the NOVs/FOVs, the authorities could demand that GMI install additional pollution control equipment or implement other measures to reduce emissions from the facility, as well as pay a civil penalty. At this time, however, GMI is unable to determine the extent of potential injunctive relief or the amount of civil penalty a negotiated resolution of this matter may entail. Should the DOJ and GMI be unable to reach a negotiated resolution of the NOVs/FOVs, the authorities could institute formal legal proceedings for injunctive relief and civil penalties. The statutory maximum penalty is $93,750 per day per violation, from April, 2013 to December 2021, and $109,024 per day thereafter.

Income and expenses

Income and expenses	12 Months Ended
Income and expenses	Dec. 31, 2021
Income and expenses
Income and expenses	26. Income and expenses 26.1 Sales Sales by segment for the years ended December 31 are as follows: 2021 2020 2019 US$'000 US$'000 US$'000 North America - Silicon 524,808 425,277 551,500 Europe - Silicon 665,337 467,728 593,907 Europe - Manganese 476,287 240,142 564,060 South Africa - Silicon 117,195 80,572 136,292 Other segments 43,568 25,334 43,147 Eliminations (48,287) (94,619) (273,684) Total 1,778,908 1,144,434 1,615,222 Sales by geographical area for the years ended December 31 are as follows: 2021 2020 2019 US$'000 US$'000 US$'000 Spain 251,528 133,370 183,969 Germany 292,774 191,107 249,911 Italy 76,721 42,067 99,796 France 130,811 79,491 109,513 Other EU Countries 176,046 88,443 220,475 USA 515,095 404,633 533,764 Rest of World 335,933 205,323 217,794 Total 1,778,908 1,144,434 1,615,222 26.2 Staff costs The average monthly number of employees (including Executive Directors) was: 2021 2020 2019 Directors 8 6 8 Senior Managers 289 291 345 Employees 2,997 3,020 3,383 Total 3,294 3,317 3,736 Staff costs are comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Wages, salaries and similar expenses 214,374 161,957 208,317 Pension plan contributions 7,571 3,641 12,787 Employee benefit costs 58,972 49,184 63,925 Total 280,917 214,782 285,029 26.3 Depreciation and amortization charges, operating allowances and write-downs Depreciation and amortization charges, operating allowances and write-downs are comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Amortization of intangible assets (Note 8) 7,241 7,183 7,305 Depreciation of property, plant and equipment (Note 9) 90,087 101,006 112,824 Other write-downs and reversals — — 65 Total 97,328 108,189 120,194 26.4 Finance income and finance costs Finance income is comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Finance income of related parties (Note 24) — 16 68 Other finance income 253 161 1,312 Total 253 177 1,380 Finance costs are comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Interest on debt instruments 42,579 34,989 33,705 Interest on loans and credit facilities 12,584 8,404 15,533 Interest on note and bill discounting 88 363 373 Interest on leases 1,100 1,358 1,972 Trade receivables securitization expense (Note 10) 399 15,044 9,192 Other finance costs 92,439 6,810 2,450 Total 149,189 66,968 63,225 At the completion of the comprehensive refinancing, the Company recorded a finance cost of $90.8 million (See Note 18). 26.5 Impairment losses and net (loss) gain due to changes in the value of assets Impairment losses and net loss gain due to changes in the value of assets are comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Impairment of goodwill (Note 7) — — (174,008) Impairment of intangible assets (Note 8) (1,153) — (211) Impairment of property, plant and equipment (Note 9) 1,663 (71,929) (1,224) Impairment of non-current financial assets (373) — (456) Impairment of other — (1,415) — Impairment (reversal)/losses 137 (73,344) (175,899) Increase (decrease) in fair value of biological assets (Note 29) — — (530) Other (loss) / profit 758 158 (1,044) Net (loss) gain due to changes in the value of assets 758 158 (1,574) 26.6 (Loss) gain on disposal of non-current assets Loss (gain) on disposal of non-current assets is comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Gain on disposal of intangible assets — 1,692 — Gain on disposal of property, plant and equipment 2,462 473 353 Loss on disposal of property, plant and equipment (1,123) (873) (1,761) Gain on disposal of other non-current assets 47 — 6 Loss on disposal of other non-current assets — — (Loss) gain on disposal of subsidiary — — (821) Total 1,386 1,292 (2,223) During 2021, Ferroglobe has sold the assets related to Niagara facility, the Company received net cash proceeds of $1,370 thousand and recognized a gain on disposal for the same amount (zero was the net book value of Niagara assets as of December 31, 2020). Additionally, the French subsidiary FerroPem has sold property of Chateau-Feuillet facility, amounting to $1,092 thousand fully depreciated. Loss on disposal during 2021 is mainaly due to asset disposals in American and Candian subsidieries. During 2020, Ferroglobe sold CO2 emissions rights that were derecognized from the balance sheet against the cash received, as the carrying amount price per emission right was lower to the sales price per CO2 emission right, an income of $1,692 thousand was recognized on the disposal of intangible assets. On September 19, 2019, Ferroglobe closed on the sale of its subsidiary Ultracore Polska ZOO, which manufactures cored wire in Poland, recognized a loss on disposal of $821 thousand. 26.7 Contractual assets and liabilities Contractual assets and liabilities are comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Contractual Assets 5,785 5,152 5,271 Contractual Liabilities 5,047 1,687 134 Total 10,832 6,839 5,405 Contractual assets are recorded within “trade and other receivables” and relate to unbilled services. Contractual liabilities are recorded within “Trade an other payable” and relate to advances from customers.

Remuneration of key management

Remuneration of key management personnel	12 Months Ended
Remuneration of key management personnel	Dec. 31, 2021
Remuneration of key management personnel
Remuneration of key management personnel	27. Remuneration of key management personnel The remuneration of the key management personnel, which comprises the Company’s management committee, during the years ended December 31 is as follows: 2021 2020 2019 US$'000 US$'000 US$'000 Fixed remuneration 5,244 5,086 5,404 Variable remuneration 1,209 756 254 Contributions to pension plans and insurance policies 373 319 350 Share-based compensation 3,627 2,017 4,882 Termination benefits 119 1,886 1,147 Other remuneration 17 9 7 Total 10,589 10,073 12,044 During 2021, 2020 and 2019, no loans and advances have been granted to key management personnel.

Financial risk management

Financial risk management	12 Months Ended
Financial risk management	Dec. 31, 2021
Financial risk management
Financial risk management	28. Financial risk management Ferroglobe operates in an international and cyclical industry which exposes it to a variety of financial risks such as currency risk, liquidity risk, interest rate risk, credit risk and risks relating to the price of finished goods, raw materials and power. The Company’s management model aims to minimize the potential adverse impact of such risks upon the Company’s financial performance. Risk is managed by the Company’s executive management, supported by the Risk Management, Treasury and Finance functions. The risk management process includes identifying and evaluating financial risks in conjunction with the Company’s operations and quantifying them by project, region and subsidiary. Management provides written policies for global risk management, as well as for specific areas such as foreign currency risk, credit risk, interest rate risk, liquidity risk, the use of hedging instruments and derivatives, and investment of surplus liquidity. The financial risks to which the Company is exposed in carrying out its business activities are as follows: a) Market risk Market risk is the risk that the Company’s future cash flows or the fair value of its financial instruments will fluctuate because of changes in market prices. The primary market risks to which the Company is exposed comprise foreign currency risk, interest rate risk and risks related to prices of finished goods, raw materials and power. Foreign currency risk Ferroglobe generates sales revenue and incurs operating costs in various currencies. The prices of finished goods are to a large extent determined in international markets, primarily in US dollars and Euros. Foreign currency risk is partly mitigated by the generation of sales revenue, the purchase of raw materials and other operating costs being denominated in the same currencies. Although it has done so on occasions in the past, and may decide to do so in the future, the Company does not generally enter into foreign currency derivatives in relation to its operating cash flows. At December 31, 2021, and December 31, 2020, the Company was not party to any foreign currency forward contracts. In July 2021 the Company completed a restructuring of its $350,000 thousand of senior unsecured Notes due 2022. This included the issue of additionally $60,000 thousand of super senior secured Notes due 2025 (see Note Note Note During the year ended December 31, 2021 and 2020 the Company did not enter into any cross currency swaps. Foreign currency Sensitivity analysis The Company’s exposure to foreign currency risk arises from the translation of the foreign currency exchange gains and losses on cash and cash equivalents, accounts receivable, accounts payable and inventories that are denominated in foreign currency. Depreciation or appreciation of the USD by 10% against EUR, CAD and ZAR at December 31, 2021, while all other variables were remained constant, would have increased or (decreased) the net profit before tax of $35,310 thousand. Interest rate risk Ferroglobe is exposed to interest rate risk in respect of its financial liabilities that bear interest at floating rates. These primarily comprise credit facilities (see Note Note 17 During the year ended December 31, 2021 and 2020, the Company did not enter into any interest rate derivatives in relation to its interest bearing credit facilities. At December 31, 2020, the Company had drawn down $28,168 thousand under its credit facilities and nil b) Credit risk Credit risk refers to the risk that a customer or counterparty will default on its contractual obligations resulting in financial loss. The Company’s main credit risk exposure related to financial assets is set out in Note 10 and includes trade receivables, other receivables and other financial assets. Trade receivables consist of a large number of customers, spread across diverse industries and geographical areas. The Company has established policies, procedures and controls relating to customer credit risk management. Ongoing credit evaluation is performed on the financial condition of accounts receivable and, where appropriate, the Company insures its trade receivables with reputable credit insurance companies. Since October 2020, the Company entered into a factoring program where the receivables of some of the Company’s French and Spanish entities are prefinanced by a factor. (see Note Since December 2019, the Company entered into a forfaiting program where some of the Company’s French and Spanish entities may assign their rights to receive payments under the Contracts with the customer “ArcelorMittal Sourcing s.c.a.” in accordance with a forfaiting scheme. c) Liquidity risk The purpose of the Company’s liquidity and financing policy is to ensure that the Company keeps sufficient funds available to meet its financial obligations as they fall due. The Company’s main sources of financing are as follows: ● $345,058 thousand aggregate principal amount of 9.375% senior secured notes due March 1, 2025 (the “Reinstated Senior Notes”). Interest is payable semi-annually on January 31 and July 31 of each year. ● $60,000 thousand aggregate principal amount of 9% super senior secured notes due March 1, 2025 (the “Super Senior Notes”). The proceeds from the Notes, issued on May 17, 2021 and July 29, 2021, were primarily used to repay certain existing indebtedness of the Parent Company and its subsidiaries. Interest is payable semi-annually on January 31 and July 31 of each year. ● On September 8, 2016, FerroAtlántica, S.A.U, as borrower, and the Spanish Ministry of Industry, Tourism and Commerce (the “Ministry”), as lender, entered into two loan agreements under which the Ministry made available to the borrower loans in aggregate principal amount of €44,999 thousand and €26,909 thousand, respectively, in connection with industrial development projects relating to the Company’s solar grade silicon project. The loan is contractually due to be repaid in 7 instalments over a 10-year period with the first three years as a grace period. The loan of €26,909 thousand was repaid in April 2018. Interest on outstanding amounts under each loan accrues at an annual rate of 3.55%. As of December 31, 2021, the amortized cost of the loan was €54,578 thousand (equivalent to $61,815 thousand) (2020: €44,824 thousand and $55,004 thousand), see Note 19. ● On October 2, 2020, the Company ended the receivables funding agreement and cancelled the securitization program, signing a new factoring agreement with a Factor, for anticipating the collection of receivables of the Company’s European entities (Grupo FerroAtlántica, S.A. and FerroPem S.AS). As a result of the agreement, the Leasing and Factoring Agent provided a cash consideration of circa $48.8 million, repurchased the receivables portfolio sold to the SPE on September 28 2020, and consequently assumed the loan tranche of the senior borrower to the SPE. Also, the Senior loan and intermediate subordinate loan tranches were paid with internal sources of funds, at closing, there was cash release of $18 million from restricted cash relating to a special purpose vehicle under prior securitization program (see Note 10). As of December 31, 2021, the Company exceeded the limit, the lender agreed a temporary increase of the limit. ● $100,000 thousand North-American asset-based, revolving credit facility. Loans under the ABL Revolver may be borrowed, repaid and reborrowed at any time until the facility’s expiration date. The legal final maturity date of the ABL Revolver is October 11, 2024. The terms of the facility provide a spring forward provision which requires the ABL Revolver to be repaid on the date which is three months prior to the maturity date of the senior unsecured Notes (March 1, 2022), which would currently imply a facility repayment date of December 1, 2021. At December 31, 2020 $31,155 thousand was utilized. The ABL Revolver was fully repaid in March 2021. ● On July 23, 2020, Ferroglobe subsidiary, Ferropem, S.A.S., as borrower, contracted a loan with BNP Paribas, as lender, amounting to €4,456 thousand, to finance Company’s activities in France. The loan is guaranteed by the French government as part of the COVID-19 relief measures. Repayment of principal and payment of interest and accessories offer the possibility for the Borrower to extend the amortization of the amounts due at maturity for an additional period of 1 to 5 years . Interest rate is zero percent and the borrower is liable to pay a 0.50% fee calculated on the capital borrowed equivalent to an amount of €22 thousand. ● On June 2, 2020, Ferroglobe subsidiary, Silicium Québec, as borrower, contracted a $7,000 thousand loan with Investissement Québec, a regional government loan & investment agency, as lender, to finance its capital expenditures activities in Canada. The loan is to be repaid in 84 installments over a 10 year period with the first three years as a grace period. Interest rate on outstanding amounts is zero percent. ● On March 3, 2022, Grupo FerroAtlántica and Grupo FerroAtlántica de Servicios (together the “Beneficiaries”) and the Sociedad Estatal de Participaciones Industriales (“SEPI”), a Spanish state-owned industrial holding company affiliated with the Ministry of Finance and Administration, entered into a loan agreement of €34.5 million. This loan is part of the SEPI fund intended to provide assistance to non-financial companies operating in strategically important sectors within Spain in the wake of the COVID-19 pandemic. The funds are subject to certain governance conditions that imply, among others, the prohibition of distributing dividends, paying non-mandatory coupons or acquiring own shares and the prohibition of the use of the funds for financing economic activities of the group subsidiaries that are not beneficiaries. Quantitative information i. Interest rate risk: At December 31, the Company’s interest-bearing financial liabilities were as follows: 2021 Fixed rate Floating rate Total US$'000 US$'000 US$'000 Bank borrowings — 98,967 98,967 Obligations under leases — 18,358 18,358 Debt instruments 440,297 — 440,297 Other financial liabilities () 67,013 — 67,013 507,310 117,325 624,635 () Note 2020 Fixed rate Floating rate Total US$'000 US$'000 US$'000 Bank borrowings — 107,607 107,607 Obligations under leases — 22,537 22,537 Debt instruments 357,508 — 357,508 Other financial liabilities () 63,896 — 63,896 421,404 130,144 551,548 () Note Analysis of sensitivity to interest rates At December 31, 2021, an increase of 1% in interest rates would have given rise to additional borrowing costs of $990 thousand (2020: $1,064 thousand). ii. Foreign currency risk: Notes and cross currency swap The Parent Company has been historically exposed to exchange rate fluctuations as it had a Euro functional currency and future commitments to pay interest and principal in US dollars in respect of its outstanding debt instruments of $150,000 thousand (see Note 18). To manage this foreign currency risk, the Parent Company entered in 2017 into a cross currency swap and designated a portion of this as an effective cash flow hedge of the future interest and principal amounts due on its debt instruments. In March, 2020, the Company closed out the cross currency swap (see Note 19). In 2021, due to an occurrence of events and conditions that reduce the number of transactions in euros, management conducted a review of the functional currency of the Parent Company and concluded that there has been a change in its functional currency from Euro to US Dollars, effective since October 1, 2021 (see Note 3.3). Therefore, The Parent Company is no longer exposed to exchange rate fluctuations. Foreign currency swaps in relation to trade receivables and trade payables At December 31, 2021 and 2020, the Company has no foreign currency swaps in place in respect of foreign currency accounts receivable and accounts payable. iii. Liquidity risk: The table below summarizes the maturity profile of the Company’s financial liabilities at December 31, 2021, based on contractual undiscounted payments. The table includes both interest and principal cash flows. The cash flows for debt instruments assume that principal of the Stub Notes is repaid at maturity in March 2022 and the principal of the Super Senior Notes and the Reinstated Senior Notes are repaid at maturity in June and December 2025 respectively (see Note 2021 Less than 1 year Between 1-2 years Between 2-5 years After 5 years Total US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 95,899 — 3,670 — 99,569 Leases 8,092 5,897 3,251 1,289 18,529 Debt instruments 57,440 37,749 493,585 — 588,774 Financial loans from government agencies 63,868 4,304 245 68,417 Payables to related parties 9,545 — — — 9,545 Payable to non-current asset suppliers 2,677 135 — — 2,812 Contingent consideration 13,023 10,684 6,844 — 30,551 Tolling agreement liability 2,589 2,367 5,952 18,379 29,287 Trade and other payables 206,000 — — — 206,000 459,133 61,136 513,547 19,668 1,053,484 2020 Less than 1 year Between 1-2 years Between 2-5 years After 5 years Total US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 108,613 5,277 — — 113,890 Finance leases 8,796 6,350 7,130 1,748 24,024 Debt instruments 32,813 366,406 — — 399,219 Financial loans from government agencies 36,672 7,209 18,274 6,501 68,656 Payables to related parties 3,196 — — — 3,196 Payable to non-current asset suppliers 130 2,633 — — 2,763 Contingent consideration 1,772 4,175 15,892 3,277 25,116 Trade and other payables 149,201 — — — 149,201 341,193 392,050 41,296 11,526 786,065 Changes in liabilities arising from financing activities The changes in liabilities arising from financing activities during the year ended December 31, 2021 and 2020 were as follows: January 1, 2021 Changes from financing cash flows Effect of changes in foreign exchange rates Changes in fair values Interest expenses Other changes December 31, 2021 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 107,607 (15,604) 1,927 — — 5,037 98,967 Obligations under leases 22,536 (11,232) (1,188) — — 8,242 18,358 Debt instruments () 357,508 43,295 — 6,462 36,233 (3,201) 440,297 Financial loans from government agencies (Note 19) 63,896 (2,252) (702) — 6,071 — 67,013 Total liabilities from financing activities 551,547 14,207 37 6,462 42,304 10,078 624,635 Dividends paid — Proceeds from stock option exercises — Other amounts paid due to net financing activities () (3,755) Payments to acquire or redeem own shares — Net cash (used) by financing activities 10,452 () Changes from financing cash flows in debt instruments include payments due to interest amounting to $16,705 thousand and proceeds from debt issuances of $60,000 thousand. (*) Other amounts paid due to financing activities include payments due to equity issuance costs amounting to $43,755 thousand and proceeds from equity issuance of $40,000 thousand. January 1, 2020 Changes from financing cash flows Effect of changes in foreign exchange rates Changes in fair values Other changes () December 31, 2020 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 158,998 (67,343) 10,295 — 5,657 107,607 Obligations under leases 25,873 (10,315) 1,608 — 5,370 22,536 Debt instruments 354,952 (32,812) — 35,368 357,508 Financial loans from government agencies (Note 19) 56,939 — 4,865 — 2,092 63,896 Derivative financial instruments (Note 19) 9,600 3,608 (86) (14,329) 1,207 — Total liabilities from financing activities 606,362 (106,862) 16,682 (14,329) 49,694 551,547 Dividends paid — Proceeds from stock option exercises — Other amounts paid due to net financing activities (6,471) Payments to acquire or redeem own shares — Net cash provided by financing activities (113,333) (*) Other changes include interest expenses

Fair value measurement

Fair value measurement	12 Months Ended
Fair value measurement	Dec. 31, 2021
Disclosure of financial liabilities [abstract]
Fair value measurement	29. Fair value measurement Fair value of assets and liabilities that are measured at fair value on a recurring basis The following table provides the fair value measurement hierarchy of the Company’s assets and liabilities that are carried at fair value in the statement of financial position: December 31, 2021 Quoted prices in active markets Significant observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) US$'000 US$'000 US$'000 US$'000 Other financial assets (Note 10): Listed equity securities 847 847 — — Other obligations (Note 21) Contingent consideration in a business combinations (26,527) — — (26,527) December 31, 2020 Quoted prices in active markets Significant observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) US$'000 US$'000 US$'000 US$'000 Other financial assets (Note 10): Listed equity securities 2,609 2,609 — — Other obligations (Note 21) Contingent consideration in a business combinations (16,632) — — (16,632) A reconciliation of the beginning and ending balances of all liabilities at fair value on recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2021, presented as follows: Total US$'000 Fair value at December 31, 2019 (21,965) Changes in fair value through profit or loss 5,333 Fair value at December 31, 2020 (16,632) Changes in fair value through profit or loss (13,168) Payments 3,273 Fair value at December 31, 2021 (26,527)

Non-current assets held for sal

Non-current assets held for sale and discontinued operations	12 Months Ended
	Dec. 31, 2021
Non-current assets held for sale
Non-current assets held for sale and discontinued operations	30. Non-current assets held for sale and discontinued operations Discontinued operations At 31 December, 2021, there were not discontinued operations. For the year ended 31 December, 2020, the Company recorded $5,399 thousand related to price adjustment on the sale of Group’s hydro-electric assets in 2019. The amount was recognized in Discontinued operations in Consolidated Income Statement. On June 2, 2019 the Company entered into an agreement with Kehlen Industries Management, S.L., a wholly-owned subsidiary of TSSP Adjacent Opportunities Partners, L.P., for the sale of the entire share capital of FerroAtlántica, S.A.U ("FAU"), the owner and operator of the Group's hydro-electric assets in Galicia (the “Spanish Hydroelectric Business”) and its smelting facility at Cee-Dumbria. The Spanish Hydroelectric Business was classified as disposal group held for sale in the second quarter of 2019 and has been accounted for as a discontinued operation. Prior to completion of the sale, all other assets of FAU unrelated to the Spanish Hydroelectric Business and the Cee-Dumbria smelting facility were transferred to other Group entities. Following the satisfaction of conditions precedent, the sale of FAU completed on August 30, 2019, resulting in gross cash proceeds of $177,627 thousand and a profit on disposal of $85,102 thousand. Under the terms of the transaction, the Group became exclusive off-taker of finished products produced at the smelting plant at Cee-Dumbria and supplier of key raw materials to that facility pursuant to a tolling agreement expiring in 2060. Analysis of the result for the period from the discontinued operations The results of the discontinued operations included in the (loss) profit after taxes from discontinued operations are set out below. The comparative results of the Spanish Hydroelectric Business at December 31, 2020 and 2019 have been represented them as profit (loss) from discontinued operations. The profit and loss statement from discontinued operations is as follows: 2021 2020 2019 US$'000 US$'000 US$'000 Sales — — 13,164 Raw materials and energy consumption for production — — (271) Other operating income — — 365 Staff costs — — (1,450) Other operating expense — — (1,995) Depreciation and amortization charges, operating allowances and write-downs — — (2,830) Impairment losses — — — Operating Profit (loss) — — 6,983 Net finance expense — (6,433) (LOSS) PROFIT BEFORE TAXES FROM DISCONTINUED OPERATIONS — — 550 Income tax expense — — (1,015) Gain on sale of discontinued operation — (5,399) 85,102 (LOSS) PROFIT AFTER TAXES FROM DISCONTINUED OPERATIONS — (5,399) 84,637 Basic earnings (loss) per ordinary share are calculated by dividing the consolidated profit (loss) for the year attributable to the Discontinued Operations by the weighted average number of ordinary shares outstanding during the year, excluding the average number of treasury shares held in the year, if any. Dilutive earnings (loss) per share assumes the exercise of stock options, provided that the effect is dilutive. The Earnings per share is showed as follows: 2021 2020 2019 Basic earnings (loss) per ordinary share computation Numerator: Profit (loss) attributable to Discontinued Operations (US$'000) — (5,399) 84,637 Denominator: Weighted average basic shares outstanding — 169,269,281 169,152,905 Basic earnings (loss) per ordinary share (US$) — (0.03) 0.50 Diluted earnings (loss) per ordinary share computation Numerator: Profit (loss) attributable to Discontinued Operations (US$'000) — (5,399) 84,637 Denominator: Weighted average basic shares outstanding — 169,269,281 169,152,905 Effect of dilutive securities — — — Weighted average dilutive shares outstanding — 169,269,281 169,152,905 Diluted earnings (loss) per ordinary share (US$) — (0.03) 0.50 The statement of cash flows from discontinued operations is showed as follows: 2021 2020 2019 US$'000 US$'000 US$'000 Cash flows from operating activities: Profit for the period — (5,399) 84,637 Adjustments to reconcile net (loss) profit to net cash provided by operating activities: Income tax expense (benefit) — — 1,015 Depreciation and amortization charges, operating allowances and write-downs — — 2,830 Net Finance expense — — 6,433 Gains on disposals of non-current and financial assets — 5,399 (85,102) Changes in working capital Decrease / (increase) in accounts receivable — — (10,341) Decrease / (increase) in inventories — — 2 Increase / (Decrease) in accounts payable — — 89 Other changes in operating assets and liabilities Other, net — (24) 69,243 Income tax paid — — — Interest paid — — (2,307) Total cash flow from operating activities — (24) 66,499 Cash flows from investing activities: Payments due to investments: Property, plant and equipment — — (126) Disposals: Disposal of business, net of cash — — — Total cash flow from investing activities — — (126) Cash flows from financing activities: Other financing activities — — (66,457) Total cash flow from financing activities — — (66,457) INCREASE / (DECREASE) IN CASH — (24) (84) CASH AT BEGINNING OF PERIOD - 24 108 CASH AT END OF PERIOD — — 24

Events after the reporting peri

Events after the reporting period	12 Months Ended
Events after the reporting period	Dec. 31, 2021
Events after the reporting period
Events after the reporting period	3 1. Events after the reporting period SEPI Loan On February 16, 2022, the Company announced that the Spanish Fund for supporting strategic companies, on a proposal of the Sociedad Estatal de Participaciones Industriales (“SEPI”), a Spanish state-owned industrial holding company affiliated with the Ministry of Finance and Administration, has approved €34.5 million in loans to Grupo Ferroatlántica, S.A.U. and Grupo Ferroátlantica de Servicios, S.L.U., wholly owned subsidiaries of the Company. These loans are part of the SEPI fund intended to provide assistance to non-financial companies operating in strategically important sectors within Spain in the wake of the COVID-19 pandemic. The €34.5M was funded using a dual-tranche loan, with €17.25M maturing in February 2025 and €17.25M maturing in June 2025. €16.9M of the loan carries a fixed interest rate of 2% per annum, and interest on the remaining €17.6M is calculated as IBOR plus a spread of 2.5% in the first year, 3.5% in the second and third years and 5.0% in the fourth year, plus an additional 1.0% payable if the result before taxes of the Beneficiaries is positive. The loans are guaranteed by the Company and certain of its subsidiaries. The funds are subject to certain governance conditions that imply, among others, the prohibition of distributing dividends, paying non-mandatory coupons or acquiring own shares and the prohibition of the use of the funds for financing economic activities of the group subsidiaries that are not beneficiaries. Uncertainties caused by the Russo-Ukrainian War The recent outbreak of war between Russia and the Ukraine has disrupted supply chains and caused instability in the global economy, while the United States and the European Union, among other countries, announced sanctions against Russia. The ongoing conflict could result in the imposition of further economic sanctions against Russia, and given Russia’s role as global exporter of metcoke, anthracite and electrodes, the Company’s business may be impacted. Currently, the Company’s charter contracts have not been affected by the events in Russia and Ukraine. However, it is possible that in the future thirdparties with whom the Company has or will have charter contracts may be impacted by such events. Rusia and Ukraine are meaningful producers of silicon metal, ferroalloys and manganese-based alloys, exporting into our markets. Management continually tracks developments in the conflict in Ukraine and actively manages our response to potential distributions to the business. Agreement with the French Works Council The Company reached a majority collective agreement with the French Works Council on March 30, 2022 relating to a process that was initiated in April 2021 when Ferroglobe engaged the French Works Councils to discuss proposals for its asset optimization program designed to safeguard its long-term future in Europe. The formal consultation procedure concerning the restructuring project in France initially targeted 355 jobs across the Company’s Château-Feuillet, Les Clavaux and Chambéry sites. Subsequently the scope of the project was amended in November 2021 to reflect the continuation of operation at the Les Clavaux facility given new developments. Collectively, this agreement results in 195 potential job terminations and 35 employee transfers to other facilities. The project is subject to final approval from the French labor authority which is expected during the second quarter of 2022.

Accounting policies (Policies)

Accounting policies (Policies)	12 Months Ended
Accounting policies (Policies)	Dec. 31, 2021
Disclosure of initial application of standards or interpretations [abstract]
Goodwill	4.1 Goodwill Goodwill arising on consolidation represents the excess of the cost of acquisition over the Company’s interest in the fair value of the identifiable assets and liabilities of a subsidiary at the date of acquisition. On disposal of a subsidiary, the attributable amount of goodwill is included in the determination of the gain or loss on disposal.
Other intangible assets	4.2 Other intangible assets Other intangible assets are assets without physical substance which can be individually identified either because they are separable or because they arise as a result of a legal or contractual right or of a legal transaction or were developed by the consolidated companies. Only intangible assets whose value can be measured reliably and from which the Company expects to obtain future economic benefits are recognized in the consolidated statement of financial position. Intangible assets are recognized initially at acquisition cost. The aforementioned cost is amortized systematically over each asset’s useful life. At each reporting date, these assets are measured at acquisition cost less accumulated amortization and any accumulated impairment losses, if any. The Company reviews amortization periods and amortization methods for finite-lived intangible assets at the end of each fiscal year. The Company’s main intangible assets are as follows: Development expenditures Development expenditures are capitalized if they meet the requirements of identifiability, reliability in cost measurement and high probability that the assets created will generate economic benefits. Developmental expenditures are amortized on a straight-line basis over the useful lives of the assets, which are between four Expenditures on research activities are recognized as expenses in the years in which they are incurred. Power supply agreements Power supply agreements at rates below market acquired in business combinations are amortized on a straight-line basis over the term in which the agreement is effective. Rights of use Rights of use granted are amortized on a straight-line basis over the term in which the right of use was granted from the date it is considered that use commenced. Rights of use are generally amortized over a period ranging from 10 Computer software Computer software includes the costs incurred in acquiring or developing computer software, including the related installation. Computer software is amortized on a straight-line basis over two Computer system maintenance costs are recognized as expenses in the years in which they are incurred. Other intangible assets Other intangible assets include: ● Supply agreements which are amortized in accordance with their estimated useful lives (see Note 8). ● CO 2 emissions allowances (“rights held emit greenhouse gasses”) which are not amortized, but rather are expensed when used (see Note 4.22).
Property, plant and equipment	4.3 Property, plant and equipment Cost Property, plant and equipment for our own use are initially recognized at acquisition or production cost and are subsequently measured at acquisition or production cost less accumulated depreciation and any accumulated impairment losses. When the construction and start-up of non-current assets require a substantial period of time, the borrowing costs incurred over that period are capitalized. In 2021, 2020 and 2019 no material borrowing cost were capitalized. The costs of expansion, modernization or improvements leading to increased productivity, capacity or efficiency or to a lengthening of the useful lives of the assets are capitalized. Repair, upkeep and maintenance expenses are recognized in the consolidated income statement for the year in which they are incurred. Mineral reserves are recorded at fair value at the date of acquisition. Depletion of mineral reserves is computed using the units-of-production method utilizing only proven and probable reserves (as adjusted for recoverability factors) in the depletion base. Property, plant and equipment in the course of construction are transferred to property, plant and equipment in use at the end of the related development period. Depreciation The Company depreciates property, plant and equipment using the straight-line method at annual rates based on the following years of estimated useful life: Years of Estimated Useful Life Properties for own use 25-50 Plant and machinery 8-20 Tools 12.5-15 Furniture and fixtures 10-15 Computer hardware 4-8 Transport equipment 10-15 Land included within property, plant and equipment is considered to be an asset with an indefinite useful life and, as such, is not depreciated, but rather it is tested for impairment annually. The Company reviews residual value, useful lives, and the depreciation method for property, plant and equipment annually. Environment The costs arising from the activities aimed at protecting and improving the environment are accounted for as an expense for the year in which they are incurred. When they represent additions to property, plant and equipment aimed at minimizing the environmental impact and protecting and enhancing the environment, they are capitalized to non-current assets.
Impairment of property, plant and equipment, intangible assets and goodwill	4.4 Impairment of property, plant and equipment, intangible assets and goodwill In order to ascertain whether its assets have become impaired, the Company compares their carrying amount with their recoverable amount; goodwill - the CGU been tested for impairment annually, and whenever there is an indication of impairment and property, plant and equipment and other - whenever there is an indication of impairment. Where the asset itself does not generate cash flows that are independent from other assets, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of: ● Fair value less costs of disposal: the price that would be agreed upon by two independent parties, less estimated costs to sell, and ● Value in use: the present value of the future cash flows that are expected to be derived from continuing use of the asset and from its ultimate disposal at the end of its useful life, discounted at a rate which reflects the time value of money and the risks specific to the business to which the asset belongs. If the recoverable amount of an asset (or cash-generating unit) is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount, and an impairment loss is recognized as an expense under “Impairment losses” in the consolidated income statement. Where an impairment loss subsequently reverses (not permitted in the case of goodwill), the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset in prior years. A reversal of an impairment loss is recognized as “Impairment (loss)/gain” in the consolidated income statement. The basis for depreciation is the carrying amount of the assets, deemed to be the acquisition cost less any accumulated impairment losses.
Financial instruments	4.5 Financial instruments Financial assets and financial liabilities are recognized in the Company’s statement of financial position when the Company becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Financial assets From January 1, 2018, the Company classifies its financial assets into the following categories: those to be measured subsequently at fair value (either through other comprehensive income or through profit or loss) and those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. Financial assets measured at amortized cost Financial assets are classified as measured at amortized cost when they are held in a business model whose objective is to collect contractual cash flows and the contractual terms of the financial asset give rise on specific dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Such assets are carried at amortized cost using the effective interest method if the time value of money is significant. Gains and losses are recognized in profit or loss when the assets are derecognized or impaired and when interest is recognized using the effective interest method. This category of financial assets includes trade receivables, receivables from related parties and cash and cash equivalents. Financial assets measured at fair value through other comprehensive income Debt instruments are classified as measured at fair value through other comprehensive income when they are held in a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All movements in the fair value of these financial assets are taken through other comprehensive income, except for the recognition of impairment gains or losses, interest income calculated using the effective interest method and foreign exchange gains and losses. When the financial asset is derecognized, the cumulative fair value gain or loss previously recognized in other comprehensive income is reclassified to the income statement. Equity instruments are classified as measured at fair value through other comprehensive income if, on initial recognition, the Company makes an irrevocable election to designate the instrument as at fair value through other comprehensive income. The election is made on an instrument-by-instrument basis and is not permitted if the equity investment is held for trading. Fair value gains or losses on revaluation of such equity investments are recognized in other comprehensive income and accumulated in the valuation adjustments reserve. When the equity investment is derecognized, there is no reclassification of fair value gains or losses previously recognized in other comprehensive income to the income statement. Dividends are recognized in the income statement when the right to receive payment is established. Financial assets measured at fair value through profit or loss Financial assets are classified as measured at fair value through profit or loss when the asset does not meet the criteria to be measured at amortized cost or at fair value through other comprehensive income. Such assets are carried on the balance sheet at fair value with gains or losses recognized in the income statement. Derecognition of financial assets The Company derecognizes a financial asset when: - the rights to receive cash flows from the asset have expired; or - the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. On derecognition of a financial asset in its entirety, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. If the Company retains substantially all of the risks and rewards of ownership of a transferred financial asset, the Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. Impairment of financial assets The expected credit loss model is applied for recognition and measurement of impairments in financial assets measured at amortized cost and debt instruments held at fair value through other comprehensive income. The loss allowance for the financial asset is measured at an amount equal to the 12-month expected credit losses. If the credit risk on the financial asset has increased significantly since initial recognition, the loss allowance for the financial asset is measured at an amount equal to the lifetime expected credit losses. Changes in loss allowances are recognized in profit and loss. For trade receivables, a simplified impairment approach is applied recognizing expected lifetime losses from initial recognition. For this purpose, the Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Company writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over two years past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Company’s recovery procedures, considering legal advice where appropriate. Any recoveries made are recognized in profit or loss. Financial liabilities The subsequent measurement of financial liabilities depends on their classification, as described below: Financial liabilities measured at fair value through profit or loss Financial liabilities that meet the definition of held for trading are classified as measured at fair value through profit or loss. Such liabilities are carried on the balance sheet at fair value with gains or losses recognized in the income statement. This category includes contingent consideration and derivatives, other than those designated as hedging instruments in an effective hedge. Financial liabilities measured at amortized cost This is the category most relevant to the Company and comprises all other financial liabilities, including bank borrowings, debt instruments, financial loans from government agencies, payables to related parties and trade and other payables. After initial recognition, other financial liabilities are subsequently measured at amortized cost using the effective interest method. Amortized cost is calculated by considering any issue costs and any discount or premium on settlement. Derecognition of financial liabilities The Company derecognizes financial liabilities when, and only when, the Company’s obligations are discharged, cancelled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. When the Company exchanges with the existing lender one debt instrument into another one with substantially different terms, such exchange is accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. Similarly, the Company accounts for substantial modification of terms of an existing liability or part of it as an extinguishment of the original financial liability and the recognition of a new liability. It is assumed that the terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective rate is at least 10 per cent different from the discounted present value of the remaining cash flows of the original financial liability. If the modification is not substantial, the difference between the carrying amount of the liability before the modification and the present value of the cash flows after modification are recognized in profit or loss as a modification gain or loss.
Derivative financial instruments and hedging activities	4.6 Derivative financial instruments and hedging activities In order to mitigate the economic effects of exchange rate and interest rate fluctuations to which it is exposed as a result of its business activities, the Company uses derivative financial instruments, such as cross currency swaps and interest rate swaps. The Company’s derivative financial instruments are set out in Note 19 to these consolidated financial statements and the Company’s financial risk management policies are set out in Note 28. Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each balance sheet date. The resulting gain or loss is recognized in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition of profit or loss depends on the nature of the hedge relationship. The gain or loss recognized in respect of derivatives that are not designated and effective as a hedging instrument is recognized in the consolidated income statement in the line item financial derivative gain (loss). A derivative with a positive fair value is recognized as a financial asset within the line item other financial assets whereas a derivative with a negative fair value is recognized as a financial liability within the line item other financial liabilities. A derivative is presented as a non-current asset or non-current liability if the remaining maturity of the instrument is more than 12 months and it is not expected to be realized or settled within 12 months. Hedge accounting The Company designates certain derivatives as cash flow hedges. For further details, see Note At the inception of the hedge relationship, the Company documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking the hedge transaction. Furthermore, at the inception of the hedge and on an ongoing basis, the Company documents whether the hedging instrument is effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk. The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income. The gain or loss relating to any ineffective portion is recognized immediately in profit or loss and is included in the financial derivative gain (loss) line item. Amounts previously recognized in other comprehensive income and accumulated in equity in the valuation adjustments reserve are reclassified to profit or loss in the periods when the hedged item is recognized in profit or loss, in the same line of the income statement as the recognized hedged item. Hedge accounting is discontinued when the Company revokes the hedging relationship, the hedging instrument expires or is sold, terminated, or exercised, or no longer qualifies for hedge accounting. Any gain or loss recognized in other comprehensive income at that time is accumulated in equity and is recognized when the forecast transaction is ultimately recognized in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss.
Fair value measurement	4.7 Fair value measurement Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: in the principal market for the asset or liability; or in the absence of a principal market, in the most advantageous market for the asset or liability. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: ● Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities. ● Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. ● Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. For those assets and liabilities measured at fair value at the balance sheet date, further information on fair value measurement is provided in Note 29.
Inventories	4.8 Inventories Inventories comprise assets (goods) which: ● Are held for sale in the ordinary course of business (finished goods); or ● Are in the process of production for such sale (work in progress); or ● Will be consumed in the production process or in the rendering of services (raw materials and spare parts). Inventories are stated at the lower of acquisition or production cost and net realizable value. The cost of each inventory item is generally calculated as follows: ● Raw materials, spare parts and other consumables and replacement parts: the lower of weighted average acquisition cost and net realizable value. ● Work in progress, finished goods and semi-finished goods: the lower of production cost (which includes the cost of materials, labor costs, direct and indirect manufacturing expenses) or net realizable value in the market. Obsolete, defective or slow-moving inventories have been reduced to net realizable value. Net realizable value is the estimated selling price less all the estimated costs of selling and distribution. The amount of any write-down of inventories (as a result of damage, obsolescence or decrease in the selling price) to their net realizable value and all losses of inventories are recognized as expenses in the year in which the write-down or loss occurs. Any subsequent reversals are recognized as income in the year in which they arise. The consumption of inventories is recognized as an expense in “Raw Materials and energy consumption for production” in the consolidated income statement in the period in which the revenue from their sale is recognized.
Raw materials and energy consumption for production	4.9 Raw materials and energy consumption for production Raw materials and energy consumption for production comprise raw materials, energy, other direct costs and changes in inventory.
Cash and cash equivalents	4.10 Cash and cash equivalents The Company classifies under “Cash and cash equivalents” any liquid financial assets, such as for example cash on hand and at banks, deposits and liquid investments, that can be converted into known amounts of cash within three months and are subject to an insignificant risk of changes in value.
Restricted cash and cash equivalents	4.11 Restricted cash and cash equivalents The Company classifies under “restricted cash and cash equivalents” any liquid financial assets, which meet the definition of cash and cash equivalents but the use is resticted by financial agreements.
Provisions and contingencies	4.12 Provisions and contingencies When preparing the consolidated financial statements, the Parent’s directors made a distinction between: ● Provisions: present obligations, either legal, contractual, constructive or assumed by the Company, arising from past events, the settlement of which is expected to give rise to an outflow of economic benefits the amount or timing of which are uncertain; and ● Contingent liabilities: possible obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more future events not wholly within the control of the Company, or present obligations arising from past events the amount of which cannot be estimated reliably or whose settlement is not likely to give rise to an outflow of economic benefits. ● Contingent assets: possible assets that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. The consolidated financial statements include all the material provisions with respect to which it is considered that it is probable that the obligation will have to be settled. Contingent liabilities are not recognized in the consolidated financial statements, but rather are disclosed, as required by IAS 37 (see Note Provisions are classified as current or non-current based on the estimated period of time in which the obligations covered by them will have to be met. They are recognized when the liability or obligation giving rise to the indemnity or payment arises, to the extent that its amount can be estimated reliably. “Provisions” includes the provisions for pension and similar obligations assumed; provisions for contingencies and charges, such as for example those of an environmental nature and those arising from litigation in progress or from outstanding indemnity payments or obligations, and collateral and other similar guarantees provided by the Company; and provisions for medium- and long- term employee incentives. Contingent assets are not recognized, but are disclosed where an inflow of economic benefits is probable. If it has become virtually certain that an inflow of economic benefits will arise, the asset and the related income are recognized in the financial statements in the period in which the change occurs. Defined contribution plans Certain employees have defined contribution plans which conform to the Spanish Pension Plans and Funds Law. The main features of these plans are as follows: ● They are mixed plans covering the benefits for retirement, disability and death of the participants. ● The sponsor undertakes to make monthly contributions of certain percentages of current employees’ salaries to external pension funds. The annual cost of these plans is recognized under Staff costs in the consolidated income statement. Defined benefit plans IAS 19, Employee Benefits requires defined benefit plans to be accounted for: ● Using actuarial techniques to make a reliable estimate of the amount of benefits that employees have earned in return for their service in the current and prior periods. ● Discounting those benefits in order to determine the present value of the obligation. ● Determining the fair value of any plan assets. ● Determining the total amount of actuarial gains and losses and the amount of those actuarial gains and losses that must be recognized. The amount recognized as a benefit liability arising from a defined benefit plan is the total net sum of: ● The present value of the obligations. ● Minus the fair value of plan assets (if any) out of which the obligations are to be settled directly. The Company recognizes provisions for these benefits as the related rights vest and on the basis of actuarial studies. These amounts are recognized under “Provisions” in the consolidated statement of financial position, on the basis of their expected due payment dates. All plan assets are separately held from the rest of the Company’s assets. Environmental provisions Provisions for environmental obligations are estimated by analyzing each case separately and observing the relevant legal provisions. The best possible estimate is made on the basis of the information available and a provision is recognized provided that the aforementioned information suggests that it is probable that the loss or expense will arise and it can be estimated in a sufficiently reliable manner. The balance of provisions and disclosures disclosed in Notes 15 and 24 reflects management’s best estimation of the potential exposure as of the date of preparation of these financial statements.
Leases	4.13 Leases The Company assesses if a contract is or contains a lease at inception of the contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company recognizes a right-of-use asset and a lease liability at the commencement date. The lease liability is initially measured at the present value of the minimum future lease payments, discounted using the interest rate implicit in the lease, or, if not readily determinable, the incremental borrowing rate. Lease payments include fixed payments, variable payments that depend on an index or rate, as well as any extension or purchase options, if the Company is reasonably certain to exercise these options. The lease liability is subsequently measured at amortized cost using the effective interest method and remeasured with a corresponding adjustment to the related right-of-use asset when there is a change in future lease payments. The right-of-use asset comprises, at inception, the initial lease liability, any initial direct costs and, when applicable, the obligations to refurbish the asset, less any incentives granted by the lessors. The right-of-use asset is subsequently depreciated, on a straight-line basis, over the lease term or, if the lease transfers the ownership of the underlying asset to the Company at the end of the lease term or, if the cost of the right-of-use asset reflects that the lessee will exercise a purchase option, over the estimated useful life of the underlying asset. Right-of-use assets are also subject to testing for impairment if there is an indicator for impairment. Variable lease payments not included in the measurement of the lease liabilities are expensed to the consolidated income statement in the period in which the events or conditions which trigger those payments occur. In the statement of financial position, right-of-use assets and lease liabilities are classified, respectively, as part of property, plant and equipment and current and non-current lease liabilities.
Current assets and liabilities	4.14 Current assets and liabilities In general, assets and liabilities are classified as current or non-current based on the Company’s operating cycle. However, in view of the diverse nature of the activities carried on by the Company, in which the duration of the operating cycle differs from one activity to the next, in general assets and liabilities expected to be settled or fall due within twelve months from the end of the reporting period are classified as current items and those which fall due or will be settled within more than twelve months are classified as non-current items.
Income taxes	4.15 Income taxes Income tax expense represents the sum of current tax and deferred tax. Income tax is recognized in the income statement except to the extent that it relates to items recognized in other comprehensive income or directly in equity, in which case the related tax is recognized in other comprehensive income or directly in equity. The current income tax expense is based on domestic and international statutory income tax rates in the tax jurisdictions where the Company operates related to taxable profit for the period. The taxable profit differs from net profit as reported in the income statement because it is determined in accordance with the rules established by the applicable tax authorities which includes temporary differences, permanent differences, and available credits and incentives. The Company’s deferred tax assets and liabilities are provided on temporary differences at the balance sheet date between financial reporting and the tax basis of assets and liabilities, then applying enacted tax rates expected to be in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized for deductible temporary differences, carry-forward of unused tax credits and losses, to the extent that it is probable, that taxable profit will be available against which the deductible temporary difference and carryforwards of unused tax credits and losses can be utilized. The deferred tax assets and liabilities that have been recognized are reassessed at the end of each closing period in order to ascertain whether they still exist, and adjustments are made on the basis of the findings of the analyses performed. Income tax payable is the result of applying the applicable tax rate in force to each tax-paying entity, in accordance with the tax laws in force in the country in which the entity is registered. Additionally, tax deductions and credits are available to certain entities, primarily relating to inter-company trades and tax treaties between various countries to prevent double taxation. Income tax expense is recognized in the consolidated income statement, except to the extent that it arises from a transaction which is recognized directly to “consolidated equity”, in which case the tax is recognized directly to “consolidated equity.” Deferred tax assets and liabilities are offset only when there is a legally enforceable right to set off current tax assets against current tax liabilities and when the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority or either the same taxable entity or different taxable entities where there is an intention to settle the current tax assets and liabilities on a net basis or to realize the assets and settle the liabilities simultaneously.
Foreign currency transactions	4.16 Foreign currency transactions Foreign currency transactions are initially recognized in the functional currency of the subsidiary by applying the exchange rates prevailing at the date of the transaction. Subsequently, at each reporting date, monetary assets and liabilities denominated in foreign currencies are translated to dollars at the rates prevailing on that date. Any exchange differences arising on settlement or translation at the closing rates of monetary items are recognized in the consolidated income statement for the year. Note 4.6 details the Company’s accounting policies for derivative financial instruments. Also, Note 28 to these consolidated financial statements details the financial risk policies of Ferroglobe.
Revenue recognition	4.17 Revenue recognition The Company recognizes sales revenue related to the transfer of promised goods or services when control of the goods or services passes to the customer. The amount of revenue recognized reflects the consideration to which the Company is or expects to be entitled in exchange for those goods or services. In the Company’s electrometallurgy business, revenue is principally generated from the sale of goods, including silicon metal and silicon- and manganese-based specialty alloys. The Company mainly satisfies its performance obligations at a point in time; the amounts of revenue recognized relating to performance obligations satisfied over time are not significant. The point in time at which control is transferred to the buyer is determined based on the agreed delivery terms, which follow Incoterms 2021 issued by International Chamber of Commerce. In most instances, control passes and sales revenue is recognized when the product is delivered to the vessel or vehicle on which it will be transported, the destination port or the customer’s premises. There may be circumstances when judgment is required based on the five indicators of control below. ● The customer has the significant risks and rewards of ownership and has the ability to direct the use of, and obtain substantially all of the remaining benefits from, the goods or service. ● The customer has a present obligation to pay in accordance with the terms of the sales contract. ● The customer has accepted the asset. Sales revenue may be subject to adjustment if the product specification does not conform to the terms specified in the sales contract, but this does not impact the passing of control. Specification adjustments have been immaterial historically. ● The customer has legal title to the asset. The Company may retain legal title until payment is received but this is for credit risk purposes only. ● The customer has physical possession of the asset. This indicator may be less important as the customer may obtain control of an asset prior to obtaining physical possession, which may be the case for goods in transit. Where the Company sells on ‘C’ terms (e.g., CIF, CIP, CFR and CPT), the Company is responsible (acts as principal) for providing shipping services and, in some instances, insurance after the date at which control of goods passes to the customer at the loading point. The Company therefore has separate performance obligations for freight and insurance services that are provided solely to facilitate sale of the commodities it produces. Revenue attributable to freight and insurance services is not usually material. Where the Company sells on ‘D’ terms (e.g., DDP, DAP and DAT), the Company arranges and pays for the carriage and retains the risk of the goods until delivery at an agreed destination, where ownership and control is transferred. Where the Company sells on ‘F’ terms (e.g., FCA and FOB), the customer arranges and pays for the main transportation. Risk and control are transferred to the customer when the goods are handed to the carrier engaged by the customer. The Company’s products are sold to customers under contracts which vary in tenure and pricing mechanisms. The majority of pricing terms are either fixed or index-based for monthly, quarterly or annual periods, with a smaller proportion of volumes being sold on the spot market. Within each sales contract, each unit of product shipped is a separate performance obligation. Revenue is generally recognized at the contracted price as this reflects the stand-alone selling price. Sales revenue excludes any applicable sales taxes. Physical exchanges with counterparties in the same line of business in order to facilitate sales to customers are reported net, as are sales and purchases made with a common counterparty, as part of an arrangement similar to a physical exchange. Revenue from the energy business is based on the power generated and put on the market at regulated prices and is recognized when the energy produced is transferred to the power network. Interest income is recognized as the interest accrues using the effective interest rate, the rate that exactly discounts estimated future cash receipts through the expected life of the financial instrument to the net carrying amount of the financial asset. Dividend income from investments is recognized when the shareholders’ right to receive the payment is established.
Expense recognition	4.18 Expense recognition Expenses are recognized on an accrual basis, i.e. when the actual flow of the related goods and services occurs, regardless of when the resulting monetary or financial flow arises. An expense is recognized in the consolidated income statement when there is a decrease in the future economic benefits related to a reduction of an asset, or an increase in a liability, which can be measured reliably. This means that an expense is recognized simultaneously with the recognition of the increase in a liability or the reduction of an asset. Additionally, an expense is recognized immediately in the consolidated income statement when a disbursement does not give rise to future economic benefits or when the requirements for recognition as an asset are not met. Also, an expense is recognized when a liability is incurred and no asset is recognized, as in the case of a liability relating to a guarantee.
Grants	4.19 Grants Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset.
Termination benefits	4.20 Termination benefits Under current labour legislation, the Company is required to pay termination benefits to employees whose employment relationship is terminated under certain conditions. The cost of providing employee benefits are recognised in the period in which the benefit is earned by the employee, rather than when it is paid or payable.
CO2 emission allowances	4.21 CO2 emission allowances The Company recognizes emission rights (allowances) received, whether allocated by government or purchased, as intangible assets. The intangible asset recognized is initially measured at fair value, being the consideration paid (if purchased on the open market) or the current market value (if granted for less than fair value). When allowances are granted for less than fair value, the difference between the fair value and the nominal amount paid is recognized as a government grant. The grant is initially recognized as deferred income in the statement of financial position and subsequently recognized as “other operating income” on a systematic basis on the proportion of the CO2 emitted over total CO2 expected to be emitted for the compliance period. In the case that a better estimate of the expected CO2 emissions for the compliance period is available, the deferred income to be recognized in the statement of financial position is adjusted prospectively. As the Company emits CO2, it recognizes a provision for its obligation to deliver the CO2 allowances at the end of the compliance period. The provision is remeasured and recorded as an expense at the end of each reporting period at historical cost for the emission rights (allowances) received and at adquisition cost for the CO2 purchased and at fair value for the CO2 pending to be purchased. Intangible assets recognized for emissions allowances are not amortized and remain valued at historical cost until either sold or surrendered in satisfaction of the Company’s obligation to deliver the allowances to the relevant authority. Sale of emission rights In those cases that it is decided to sell some or even all of its rights in the expectation of later buying rights equal to its actual emissions, the accounting will be as follows. The emission rights sold would be derecognized from the balance sheet against the cash received. In those cases, where the price per emission right is different to the fair value per emission right at the time they were granted, a gain or a loss on the disposal of assets will be recognized. The deferred income originally recognized for the free emission rights granted at the beginning of the compliance period that still remain in the balance sheet at the time of sale, will continue to be amortized over the remaining compliance period.
Share-based compensation	4.22 Share-based compensation The Company recognizes share-based compensation expense based on the estimated grant date fair value of share-based awards using a Black-Scholes option pricing model. Prior to vesting, cumulative compensation cost equals the proportionate amount of the award earned to date. The Company has elected to treat each award as a single award and recognize compensation cost on a straight-line basis over the requisite service period of the entire award. If the terms of an award are modified in a manner that affects both the fair value and vesting of the award, the total amount of remaining unrecognized compensation cost (based on the grant-date fair value) and the incremental fair value of the modified award are recognized over the amended vesting period.
Assets and disposal groups classified as held for sale, liabilities associated with assets held for sale and discontinued operations	4.23 Assets and disposal groups classified as held for sale, liabilities associated with assets held for sale and discontinued operations Assets and disposal groups classified as held for sale include the carrying amount of individual items, disposal groups or items forming part of a business unit earmarked for disposal (discontinued operations), whose sale in their present condition is highly likely to be completed within one year from the reporting date. Therefore, the carrying amount of these items, which may or may not be of a financial nature, will likely be recovered through the proceeds from their disposal. Liabilities associated with non-current assets held for sale include the balances payable arising from the assets held for sale or disposal groups and from discontinued operations. Assets and disposal groups classified as held for sale are measured at the lower of fair value less costs to sell and their carrying amount at the date of classification in this category. Non-current assets held for sale are not depreciated as long as they remain in this category.
Consolidated statement of cash flows	4.24 Consolidated statement of cash flows The following terms are used in the consolidated statement of cash flows, prepared using the indirect method, with the meanings specified as follows: 1. Cash flows: inflows and outflows of cash and cash equivalents, which are short-term, highly liquid investments that are subject to an insignificant risk of changes in value. 2. Operating activities: activities constituting the object of the subsidiaries forming part of the consolidated Company and other activities that are not investing or financing activities. 3. Investing activities: the acquisition and disposal of long-term assets and other investments not included in cash and cash equivalents. 4. Financing activities: activities that result in changes in the size and composition of the equity and borrowings of the Company that are not operating or investing activities. Interest payments and principal payments are presented separately.

Organization and Subsidiaries (

Organization and Subsidiaries (Tables)	12 Months Ended
Organization and Subsidiaries (Tables)	Dec. 31, 2021
Disclosure Of Organization and Subsidiaries [Abstract]
Schedule of subsidiaries by business activity	Percentage of Ownership Direct Total Reporting Segment Registered Alabama Sand and Gravel, Inc. — 100.0 North America – Silicon Delaware - USA Alden Resources, LLC — 100.0 North America – Silicon Delaware - USA Alden Sales Corporation, LLC — 100.0 North America – Silicon Delaware - USA ARL Resources, LLC — 100.0 North America – Silicon Delaware - USA ARL Services, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group Holdings, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group, LLC — 100.0 North America – Silicon Delaware - USA ECPI, Inc. — 100.0 North America – Silicon Delaware - USA Gatliff Services, LLC — 100.0 North America – Silicon Delaware - USA Globe BG, LLC — 100.0 North America – Silicon Delaware - USA GBG Financial LLC — 100.0 North America – Silicon Delaware - USA GBG Holdings, LLC — 100.0 North America – Silicon Delaware - USA Globe Metallurgical Inc. — 100.0 North America – Silicon Delaware - USA Globe Metals Enterprises, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys I, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys II, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises Holdings, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises, LLC — 100.0 North America – Silicon Delaware - USA GSM Sales, Inc. — 100.0 North America – Silicon Delaware - USA Laurel Ford Resources, Inc. — 100.0 North America – Silicon Delaware - USA LF Resources, Inc. — 100.0 North America – Silicon Delaware - USA Metallurgical Process Materials, LLC — 100.0 North America – Silicon Delaware - USA Norchem, Inc. — 100.0 North America – Silicon Florida - USA QSIP Canada ULC — 100.0 North America – Silicon Canada Quebec Silicon General Partner — 51.0 North America – Silicon Canada Quebec Silicon Limited Partnership — 51.0 North America – Silicon Canada Tennessee Alloys Company, LLC — 100.0 North America – Silicon Delaware - USA West Virginia Alloys, Inc. — 100.0 North America – Silicon Delaware - USA WVA Manufacturing, LLC — 51.0 North America – Silicon Delaware - USA Cuarzos Industriales, S.A.U. — 100.0 Europe – Silicon A Coruña - Spain FerroPem, S.A.S. — 100.0 Europe – Silicon France Rocas, Arcillas y Minerales, S.A. — 100.0 Europe – Silicon A Coruña - Spain Ferroatlántica del Cinca, S.L. — 99.9 Europe – Manganese Madrid - Spain Ferroglobe Mangan Norge A.S. — 100.0 Europe – Manganese Norway Ferroglobe Manganese France S.A.S. — 100.0 Europe – Manganese France Grupo FerroAtlántica, S.A.U. — 100.0 Europe – Manganese and Silicon Madrid - Spain Kintuck (France) S.A.S. — 100.0 Europe – Manganese France Kintuck A.S. — 100.0 Europe – Manganese Norway Rebone Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Silicon Smelters (Pty.), Ltd. — 100.0 South Africa – Silicon Polokwane - South Africa Silicon Technology (Pty.), Ltd. — 100.0 South Africa – Silicon South Africa Thaba Chueu Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Cuarzos Indus. de Venezuela (Cuarzoven), S.A. — 100.0 Other segments Venezuela Emix, S.A.S. — 100.0 Other segments France Ferroatlántica de México, S.A. de C.V. — 100.0 Other segments Nueva León - Mexico Ferroatlántica Participaciones, S.L.U. — 100.0 Other segments Madrid - Spain Grupo FerroAtlántica de Servicios, S.L.U. — 100.0 Other segments Madrid - Spain Ferroatlántica de Venezuela (FerroVen), S.A. — 99.9 Other segments Venezuela Ferroatlántica Deutschland, GmbH — 100.0 Other segments Germany Ferroatlántica do Brasil Mineraçao Ltda. — 70.0 Other segments Brazil Ferroglobe Holding Company, LTD 100 100.0 Other segments United Kingdom Ferroglobe Finance Company, PLC — 100.0 Other segments United Kingdom FerroManganese Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferroquartz Holdings, Ltd. (Hong Kong) — 100.0 Other segments Hong Kong FerroQuartz Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferrosolar OPCO Group S.L. — 100.0 Other segments Spain Ferrosolar R&D S.L. — 50.0 Other segments Spain FerroTambao, S.A.R.L. — 90.0 Other segments Burkina Faso Globe Argentina Holdco, LLC — 100.0 Other segments Delaware - USA Globe Metales S.R.L. — 100.0 Other segments Argentina Globe Specialty Metals, Inc. — 100.0 Other segments Delaware - USA GSM Financial, Inc. — 100.0 Other segments Delaware - USA GSM Netherlands, B.V. — 100.0 Other segments Netherlands Hidroelectricité de Saint Beron, S.A.S. — 100.0 Other segments France Mangshi FerroAtlántica Mining Industry Service Company Limited — 100.0 Other segments Mangshi, Dehong - Yunnan - China Ningxia Yonvey Coal Industrial Co., Ltd. — 98.0 Other segments China Photosil Industries, S.A.S. — 100.0 Other segments France Ferroglobe Innovation, S.L.U — 100.0 Other segments Spain Solsil, Inc. — 92.4 Other segments Delaware - USA Ultracore Energy S.A. — 100.0 Other segments Argentina 2020 Subsidiaries Percentage of Ownership Direct Total Reporting Segment Registered Alabama Sand and Gravel, Inc. — 100.0 North America – Silicon Delaware - USA Alden Resources, LLC — 100.0 North America – Silicon Delaware - USA Alden Sales Corporation, LLC — 100.0 North America – Silicon Delaware - USA ARL Resources, LLC — 100.0 North America – Silicon Delaware - USA ARL Services, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group Holdings, LLC — 100.0 North America – Silicon Delaware - USA Core Metals Group, LLC — 100.0 North America – Silicon Delaware - USA ECPI, Inc. — 100.0 North America – Silicon Delaware - USA Gatliff Services, LLC — 100.0 North America – Silicon Delaware - USA Globe BG, LLC — 100.0 North America – Silicon Delaware - USA GBG Financial LLC — 100.0 North America – Silicon Delaware - USA GBG Holdings, LLC — 100.0 North America – Silicon Delaware - USA Globe Metallurgical Inc. — 100.0 North America – Silicon Delaware - USA Globe Metals Enterprises, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys I, Inc. — 100.0 North America – Silicon Delaware - USA GSM Alloys II, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises Holdings, Inc. — 100.0 North America – Silicon Delaware - USA GSM Enterprises, LLC — 100.0 North America – Silicon Delaware - USA GSM Sales, Inc. — 100.0 North America – Silicon Delaware - USA Laurel Ford Resources, Inc. — 100.0 North America – Silicon Delaware - USA LF Resources, Inc. — 100.0 North America – Silicon Delaware - USA Metallurgical Process Materials, LLC — 100.0 North America – Silicon Delaware - USA Norchem, Inc. — 100.0 North America – Silicon Florida - USA QSIP Canada ULC — 100.0 North America – Silicon Canada Quebec Silicon General Partner — 51.0 North America – Silicon Canada Quebec Silicon Limited Partnership — 51.0 North America – Silicon Canada Tennessee Alloys Company, LLC — 100.0 North America – Silicon Delaware - USA West Virginia Alloys, Inc. — 100.0 North America – Silicon Delaware - USA WVA Manufacturing, LLC — 51.0 North America – Silicon Delaware - USA Cuarzos Industriales, S.A.U. — 100.0 Europe – Silicon A Coruña - Spain Ferroatlántica del Cinca, S.L. — 99.9 Europe – Manganese Madrid - Spain Ferroatlántica de Sabón, S.L.U. — 100.0 Europe – Silicon Madrid - Spain Ferroatlántica de Boo, S.L.U. — 100.0 Europe – Manganese Madrid - Spain Ferroatlántica Participaciones, S.L.U. — 100.0 Other segments Madrid - Spain Ferroglobe Mangan Norge A.S. — 100.0 Europe – Manganese Norway Ferroglobe Manganese France S.A.S. — 100.0 Europe – Manganese France FerroPem, S.A.S. — 100.0 Europe – Silicon France Ferrous Receivables DAC. — 100.0 Other segments Ireland Grupo FerroAtlántica, S.A.U. 100 100.0 Europe – Manganese Madrid - Spain Grupo FerroAtlántica de Servicios, S.L.U. — 100.0 Other segments Madrid - Spain Kintuck (France) S.A.S. — 100.0 Europe – Manganese France Kintuck A.S. — 100.0 Europe – Manganese Norway Rocas, Arcillas y Minerales, S.A. — 100.0 Europe – Silicon A Coruña - Spain Rebone Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Silicon Smelters (Pty.), Ltd. — 100.0 South Africa – Silicon Polokwane - South Africa Silicon Technology (Pty.), Ltd. — 100.0 South Africa – Silicon South Africa Thaba Chueu Mining (Pty.), Ltd. — 74.0 South Africa – Silicon Polokwane - South Africa Cuarzos Indus. de Venezuela (Cuarzoven), S.A. — 100.0 Other segments Venezuela Emix, S.A.S. — 100.0 Other segments France Ferroatlántica de México, S.A. de C.V. — 100.0 Other segments Nueva León - Mexico Ferroatlántica de Venezuela (FerroVen), S.A. — 99.9 Other segments Venezuela Ferroatlántica Deutschland, GmbH — 100.0 Other segments Germany Ferroatlántica do Brasil Mineraçao Ltda. — 70.0 Other segments Brazil Ferroatlántica I+D, S.L.U. — 100.0 Other segments Madrid - Spain FerroAtlántica International Ltd. — 100.0 Other segments United Kingdom Ferroglobe Services (UK) Ltd. 100 100.0 Other segments United Kingdom FerroManganese Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferroquartz Holdings, Ltd. (Hong Kong) — 100.0 Other segments Hong Kong FerroQuartz Mauritania S.A.R.L. — 90.0 Other segments Mauritania Ferrosolar OPCO Group S.L. — 100.0 Other segments Spain Ferrosolar R&D S.L. — 50.0 Other segments Spain FerroTambao, S.A.R.L. — 90.0 Other segments Burkina Faso Globe Argentina Holdco, LLC — 100.0 Other segments Delaware - USA Globe Metales S.R.L. — 100.0 Other segments Argentina Globe Specialty Metals, Inc. 100 100.0 Other segments Delaware - USA GSM Financial, Inc. — 100.0 Other segments Delaware - USA GSM Netherlands, B.V. — 100.0 Other segments Netherlands Hidroelectricité de Saint Beron, S.A.S. — 100.0 Other segments France Mangshi FerroAtlántica Mining Industry Service Company Limited — 100.0 Other segments Mangshi, Dehong -Yunnan -China Mangshi Sinice Silicon Industry Company Limited — 100.0 Other segments Mangshi, Dehong -Yunnan -China Ningxia Yonvey Coal Industrial Co., Ltd. — 98.0 Other segments China Photosil Industries, S.A.S. — 100.0 Other segments France Silicio Ferrosolar, S.L.U. — 100.0 Other segments Spain Solsil, Inc. — 92.4 Other segments Delaware - USA Ultracore Energy S.A. — 100.0 Other segments Argentina

Accounting policies (Tables)

Accounting policies (Tables)	12 Months Ended
Accounting policies (Tables)	Dec. 31, 2021
Disclosure of initial application of standards or interpretations [abstract]
Schedule of useful lives of property, plant and equipment	Years of Estimated Useful Life Properties for own use 25-50 Plant and machinery 8-20 Tools 12.5-15 Furniture and fixtures 10-15 Computer hardware 4-8 Transport equipment 10-15

Segment reporting (Tables)

Segment reporting (Tables)	12 Months Ended
Segment reporting (Tables)	Dec. 31, 2021
Disclosure of operating segments [abstract]
Schedule of consolidated statements of income and financial position by reportable segment	2021 North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Sales 524,808 476,287 665,337 117,195 43,568 (48,287) 1,778,908 Raw materials and energy consumption for production (323,316) (326,257) (473,884) (76,617) (33,445) 48,623 (1,184,896) Other operating income 5,385 34,142 65,752 763 49,901 (45,858) 110,085 Staff costs (82,463) (33,696) (120,287) (13,268) (31,203) — (280,917) Other operating expense (43,070) (105,290) (128,755) (13,256) (51,960) 45,522 (296,809) Depreciation and amortization charges, operating allowances and write-downs (55,770) (18,634) (16,852) (5,081) (991) — (97,328) Impairment (loss) gain — (376) (441) 2,684 (1,730) — 137 Net gain due to changes in the value of assets — — — — 758 — 758 (Loss) gain on disposal of non-current assets 394 — 1,029 — (37) — 1,386 Other (loss) gain — — (1) — 63 — 62 Operating (loss) profit 25,968 26,176 (8,102) 12,420 (25,076) — 31,386 Finance income 258 8,516 2,540 244 31,303 (42,608) 253 Finance costs (1,063) (25,544) (7,162) (5,693) (152,335) 42,608 (149,189) Exchange differences 807 2,160 (263) 135 (5,225) — (2,386) (Loss) Profit before tax 25,970 11,308 (12,987) 7,106 (151,333) — (119,936) Income tax (expense) benefit (5,331) (3,674) 7,463 (692) 6,796 — 4,562 (Loss) profit for the year 20,639 7,634 (5,524) 6,414 (144,537) — (115,374) Attributable to the Parent 24,755 7,634 (5,509) 6,821 (144,325) — (110,624) Attributable to non-controlling interests (4,116) — (15) (407) (212) — (4,750) () The amounts correspond to transactions between segments that are eliminated in the consolidation process. 2020() North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Sales 425,277 240,142 467,728 80,572 25,334 (94,619) 1,144,434 Raw materials and energy consumption for production (280,858) (204,063) (369,130) (56,062) (19,518) 94,145 (835,486) Other operating income 2,916 9,199 25,049 131 24,587 (28,255) 33,627 Staff costs (73,988) (28,337) (84,300) (11,013) (17,144) — (214,782) Other operating expense (34,315) (33,884) (51,812) (14,098) (26,679) 28,729 (132,059) Depreciation and amortization charges, operating allowances and write-downs (61,664) (19,086) (19,252) (7,141) (1,046) — (108,189) Impairment (loss) gain (35,685) 305 (17,941) (8,677) (11,346) — (73,344) Net gain due to changes in the value of assets — — — — 158 — 158 (Loss) gain on disposal of non-current assets (869) 1,154 1,002 — 5 — 1,292 Other (loss) gain — 4 — — (5) — (1) Operating (loss) (59,186) (34,566) (48,656) (16,288) (25,654) — (184,350) Finance income 679 7,122 2,338 90 11,220 (21,272) 177 Finance costs (857) (22,267) (10,325) (3,796) (50,995) 21,272 (66,968) Financial derivative gain — — — — 3,168 — 3,168 Exchange differences (485) (3,508) (1,226) (1,405) 32,177 — 25,553 (Loss) before tax (59,849) (53,219) (57,869) (21,399) (30,084) — (222,420) Income tax (expense) benefit 14,213 (19,797) (14,446) (1,049) (860) — (21,939) (Loss) for the year from continuing operations (45,636) (73,016) (72,315) (22,448) (30,944) — (244,359) (Loss) for the year from discontinued operations — (5,399) — — — (5,399) (Loss) for the year (45,636) (78,415) (72,315) (22,448) (30,944) — (249,758) Attributable to the Parent (42,603) (79,482) (71,243) (22,206) (30,805) — (246,339) Attributable to non-controlling interests (3,033) — (5) (242) (139) — (3,419) () Our operating segments have been revised in 2021 to reflect the way its chief operating decision maker (“CODM”) is currently managing and viewing the business. Accordingly, the results of 2020 and 2019 have been restated to report results according to the operating segments revised in 2021. (*) The amounts correspond to transactions between segments that are eliminated in the consolidation process. 2019() North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations (*) Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Sales 551,500 564,060 593,907 136,292 43,147 (273,684) 1,615,222 Raw materials and energy consumption for production (366,711) (502,919) (474,993) (108,823) (35,939) 274,988 (1,214,397) Other operating income 10,418 12,828 39,001 1,323 27,144 (36,501) 54,213 Staff costs (87,954) (32,133) (106,681) (20,333) (37,928) — (285,029) Other operating expense (60,105) (64,851) (83,917) (19,457) (32,572) 35,197 (225,705) Depreciation and amortization charges, operating allowances and write-downs (72,251) (19,904) (19,667) (6,459) (1,913) — (120,194) Impairment (loss) gain (174,013) 12 (1) — (1,897) — (175,899) Net (loss) due to changes in the value of assets — — — (530) (1,044) — (1,574) (Loss) gain on disposal of non-current assets (1,601) — 181 — (803) — (2,223) Operating (loss) (200,717) (42,907) (52,170) (17,987) (41,805) — (355,586) Finance income 529 8,999 2,074 156 17,690 (28,068) 1,380 Finance costs (3,914) (19,722) (5,626) (4,507) (57,524) 28,068 (63,225) Financial derivative gain — — — — 2,729 — 2,729 Exchange differences (407) 2,812 1,161 (1,179) 497 — 2,884 (Loss) before tax (204,509) (50,818) (54,561) (23,517) (78,413) — (411,818) Income tax benefit (expense) 8,520 9,258 12,782 7,761 3,220 — 41,541 (Loss) for the year from continuing operations (195,989) (41,560) (41,779) (15,756) (75,193) — (370,277) Profit for the year from discontinued operations — — 3,280 — 81,357 — 84,637 Profit (loss) for the year (195,989) (41,560) (38,499) (15,756) 6,164 — (285,640) Attributable to the Parent (190,866) (41,560) (38,499) (16,124) 6,448 — (280,601) Attributable to non-controlling interests (5,123) — — 368 (284) — (5,039) () Our operating segments have been revised in 2021 to reflect the way its chief operating decision maker (“CODM”) is currently managing and viewing the business. Accordingly, the results of 2020 and 2019 have been restated to report results according to the operating segments revised in 2021. (*) The amounts correspond to transactions between segments that are eliminated in the consolidation process. The consolidated statements of financial position at December 31, 2021 and 2020, by reportable segment are as follows: 2021 Consolidation North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Goodwill 29,702 — — — — — 29,702 Other intangible assets 4,015 40,318 54,463 1,165 681 — 100,642 Property, plant and equipment 324,210 69,283 87,547 35,830 38,044 — 554,914 Inventories 56,318 77,425 121,813 21,008 13,233 — 289,797 Trade and other receivables () 867,128 487,731 319,805 51,734 1,233,809 (2,574,594) 385,613 Cash, restricted cash and cash equivalents 61,032 32,139 10,660 6,787 6,045 — 116,663 Other (4,420) 3,810 18,018 1,909 26,690 — 46,007 Total assets 1,337,985 710,706 612,306 118,433 1,318,502 (2,574,594) 1,523,338 Equity 438,915 86,234 150,320 21,048 (376,486) — 320,031 Provisions 21,458 42,428 128,144 6,163 390 — 198,583 Bank borrowings — 29,972 67,749 — 1,246 — 98,967 Obligations under finance leases 6,334 11,457 — 24 543 — 18,358 Debt instruments — — — — 440,297 — 440,297 Other financial liabilities 4,033 153 — — 62,827 — 67,013 Trade and other payables () 813,676 550,695 186,493 87,687 1,195,016 (2,618,022) 215,545 Other 53,569 (10,233) 79,600 3,511 (5,331) 43,428 164,544 Total equity and liabilities 1,337,985 710,706 612,306 118,433 1,318,502 (2,574,594) 1,523,338 2020() Consolidation North America Europe Europe South Africa Adjustments/ Silicon Manganese Silicon Silicon Other segments Eliminations () Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Goodwill 29,702 — — — — — 29,702 Other intangible assets 14,604 1,790 1,841 1,265 1,256 — 20,756 Property, plant and equipment 353,145 88,883 101,391 37,526 39,089 — 620,034 Inventories 63,765 62,243 90,434 20,375 9,732 — 246,549 Trade and other receivables () 609,456 413,115 280,519 43,121 1,001,306 (2,099,725) 247,792 Cash, restricted cash and cash equivalents 48,127 34,335 13,684 2,777 32,634 — 131,557 Other (37,007) 14,546 16,267 9,808 47,141 — 50,755 Total assets 1,081,792 614,912 504,136 114,872 1,131,158 (2,099,725) 1,347,145 Equity 412,729 13,998 169,850 17,856 (248,714) — 365,719 Provisions 33,812 45,609 74,804 5,956 3,602 — 163,783 Bank borrowings — 23,216 56,905 — 27,486 — 107,607 Obligations under finance leases 4,260 17,403 — 318 555 — 22,536 Debt instruments — — — — 357,508 — 357,508 Other financial liabilities 3,140 331 — — 60,425 — 63,896 Trade and other payables (**) 615,690 500,813 183,123 78,807 915,381 (2,141,417) 152,397 Other 12,161 13,543 19,453 11,935 14,915 41,692 113,699 Total equity and liabilities 1,081,792 614,913 504,135 114,872 1,131,158 (2,099,725) 1,347,145 () Our operating segments have been revised in 2021 to reflect the way its chief operating decision maker (“CODM”) is currently managing and viewing the business. Accordingly, the results of 2020 have been restated to report results according to the operating segments revised in 2021. () These amounts correspond to balances between segments that are eliminated at consolidation . () Trade and other receivables includes non-current and current receivables from group that eliminated in the consolidated process. (***) Trade and other payables includes non-current and current payables from group that are eliminated in the consolidated process.
Schedule of sales by product line	2021 2020 2019 US$'000 US$'000 US$'000 Silicon metal 637,695 463,217 539,872 Manganese-based alloys 469,138 267,469 447,311 Ferrosilicon 337,833 176,447 275,368 Other silicon-based alloys 161,750 126,817 181,736 Silica fume 32,409 25,888 33,540 Other 140,083 84,596 137,395 Total 1,778,908 1,144,434 1,615,222
Schedule of capital expenditures by reporting segment	Capital expenditures by reporting segment Year Ended December 31, 2021 2020 2019 US$´000 US$´000 US$´000 North America - Silicon 15,579 17,420 7,226 Europe Silicon 4,328 1,334 11,001 Europe Manganese 6,947 4,034 5,146 South Africa Silicon 3,611 2,308 3,492 Other Segments 2,944 1,963 7,175 Total 33,409 27,059 34,040
Schedule of non-current assets by geographical area	Non current assets by geographical area The non-current assets (as defined in IFRS 8) attributable to the country of domicile and all foreign countries of operation are as follows: Year ended December 31, 2021 2020 US$´000 US$´000 United States of America 230,356 227,539 Europe Spain 146,405 145,019 France 138,842 90,543 Other EU Countries 71,612 72,313 Total non-current assets in Europe 356,859 307,875 Rest of the World 124,839 154,493 Total 712,054 689,907

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
Goodwill (Tables)	Dec. 31, 2021
Disclosure of reconciliation of changes in goodwill [abstract]
Schedule of changes in the carrying amount of goodwill	Changes in the carrying amount of goodwill during the years ended December 31, are as follows: January 1, Impairment Exchange December 31, Impairment Exchange December 31, 2020 (Note 26.5) differences 2020 (Note 26.5) differences 2021 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Globe Specialty Metals, Inc. 29,702 — — 29,702 — — 29,702 Total 29,702 — — 29,702 — — 29,702
Schedule of key assumptions used in the determination of recoverable value	2021 2020 2019 U.S. Canada U.S. Canada U.S. Canada Weighted average cost of capital 13.2 % — % 10.3 % — % 11.1 % 11.5 % Long-term growth rate 2.3 % — % 2.0 % — % 2.0 % 2.0 % Normalized tax rate 21.0 % — % 21.0 % — % 21.0 % 26.6 %

Other intangible assets (Tables

Other intangible assets (Tables)	12 Months Ended
Other intangible assets (Tables)	Dec. 31, 2021
Disclosure of detailed information about intangible assets [abstract]
Schedule of changes in the carrying amount of other intangible assets	Other Accumulated Development Power Supply Computer Intangible Depreciation Impairment Expenditure Agreements Rights of Use Software Assets (Note 26.3) (Note 26.5) Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at January 1, 2020 50,326 37,836 16,533 5,149 42,670 (82,283) (18,964) 51,267 Additions 262 — — — 42,561 (7,183) — 35,640 Disposals — — — — (68,713) — — (68,713) Exchange differences 4,286 — 516 100 2,354 (3,576) (1,118) 2,562 Business disposal — — — — — — — — Balance at December 31, 2020 54,874 37,836 17,049 5,249 18,872 (93,042) (20,082) 20,756 Additions 1,040 — 10 — 139,180 (7,241) (1,153) 131,836 Disposals — — (3,558) (72) (51,796) 563 3,072 (51,791) Exchange differences (4,216) — (132) (87) (540) 3,580 1,236 (159) Business disposal — — — — — — — — Balance at December 31, 2021 51,698 37,836 13,369 5,090 105,716 (96,140) (16,927) 100,642

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
Property, plant and equipment (Tables)	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Schedule of property, plant and equipment, net of related accumulated depreciation and impairment	Advances and Property, Plant Other Items of Other Fixtures, and Equipment Property, Other Items Other Items Land and Plant and Tools and in the Course of Mineral Plant and of Leased of Leased Accumulated Buildings Machinery Furniture Construction Reserves Equipment Land and Plant and Depreciation Impairment Total Buildings machinery (Note 26.3) (Note 26.5) US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at January 1, 2020 196,586 1,273,837 8,819 106,651 59,502 34,463 13,298 21,333 (865,937) (107,646) 740,906 Additions 1,391 11,095 302 27,059 — 30 3,374 1,405 (101,006) (71,929) (128,279) Disposals and other (780) (17,664) (612) (1,715) — — — — 17,337 4 (3,430) Transfers from/(to) other accounts 904 15,830 — (16,861) — — — 127 — (6,937) (6,937) Exchange differences 9,924 48,487 (87) 8,895 (177) (1,305) 916 1,581 (45,901) (4,559) 17,774 Balance at December 31, 2020 208,025 1,331,585 8,422 124,029 59,325 33,188 17,588 24,446 (995,507) (191,066) 620,034 Additions 166 6,054 199 33,409 — — 576 4,113 (90,087) 1,663 (43,907) Disposals and other (1,131) (106,295) (618) (9,374) — (55) — — 73,601 39,972 (3,900) Transfers from/(to) other accounts 65 21,883 112 (23,621) — (20) — 730 867 (17) (1) Exchange differences (9,911) (50,603) (636) (10,481) (306) 476 (1,008) (1,527) 49,048 7,636 (17,312) Balance at December 31, 2021 197,214 1,202,624 7,479 113,962 59,019 33,589 17,156 27,762 (962,078) (141,811) 554,914

Financial assets and other re_2

Financial assets and other receivables (Tables)	12 Months Ended
Financial assets and other receivables (Tables)	Dec. 31, 2021
Other financial assets
Schedule of classification financial assets	2021 classification Note Amortised cost Fair value through profit or loss - mandatorily measured Fair value through other comprehensive income - designated Total US$'000 US$'000 US$'000 US$'000 Other financial assets 10.1 3,348 847 — 4,195 Receivables from related parties 24 4,540 — — 4,540 Trade receivables 10.2 321,929 — — 321,929 Other receivables 10.2 6,199 — — 6,199 Cash and cash equivalents 114,391 — — 114,391 Restricted cash 2,272 — — 2,272 Total financial assets 452,679 847 — 453,526 2020 classification Note Amortised cost Fair value through profit or loss - mandatorily measured Fair value through other comprehensive income - designated Total US$'000 US$'000 US$'000 US$'000 Other financial assets 10.1 3,456 2,609 — 6,065 Receivables from related parties 24 5,530 — — 5,530 Trade receivables 10.2 202,233 — — 202,233 Other receivables 10.2 3,847 — — 3,847 Cash and cash equivalents 102,714 — — 102,714 Restricted cash 28,843 — — 28,843 Total financial assets 346,623 2,609 — 349,232
Schedule of restricted cash and cash equivalents	2021 2020 US$'000 US$'000 Cash and cash equivalents 114,391 102,714 Current/Non Current restricted cash presented as Cash 2,272 28,843 Escrow: Hydro sale 2,272 6,136 ABL — 22,500 Others — 207 Total 116,663 131,557
Schedule of other financial assets	2021 Non- Current Current Total US$'000 US$'000 US$'000 Other financial assets held with third parties: Other financial assets at amortised cost 3,348 — 3,348 Equity securities 743 104 847 Total 4,091 104 4,195 2020 Non- Current Current Total US$'000 US$'000 US$'000 Other financial assets held with third parties: Other financial assets at amortised cost 3,456 — 3,456 Equity securities 1,601 1,008 2,609 Total 5,057 1,008 6,065
Schedule of trade and other receivables	2021 2020 US$'000 US$'000 Trade receivables 322,935 203,930 Less – allowance for doubtful debts (1,006) (1,697) 321,929 202,233 Tax receivables (1) 25,244 13,166 Government grant receivables 27,701 23,016 Other receivables 6,199 3,847 Total 381,073 242,262 (1) “Tax receivables” is primarily related to VAT receivables, which are recovered either by offsetting against VAT payables or are expected to be refunded by the tax authorities in the relevant jurisdictions.
Schedule of changes in the allowance for doubtful debts	Allowance US$'000 Balance at January 1, 2020 4,543 Impairment losses recognized 504 Amounts written off as uncollectible (3,666) Changes in the scope of consolidation — Exchange differences 315 Balance at December 31, 2020 1,697 Impairment losses recognized (580) Amounts written off as uncollectible — Changes in the scope of consolidation — Exchange differences (111) Balance at December 31, 2021 1,006

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 31, 2021
Inventories.
Schedule of Inventory	2021 2020 US$'000 US$'000 Finished goods 118,080 100,711 Raw materials in progress and industrial supplies 110,965 99,259 Other inventories 42,815 46,274 Advances to suppliers 17,937 305 Total 289,797 246,549

Other assets (Tables)

Other assets (Tables)	12 Months Ended
Other assets (Tables)	Dec. 31, 2021
Other assets abstract
Schedule of other non current and current assets	2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Guarantees and deposits given 18,020 299 18,319 10,290 253 10,543 Prepayments and accrued income 27 3,213 3,240 — 10,656 10,656 Other assets 687 4,896 5,583 1,614 9,805 11,419 Total 18,734 8,408 27,142 11,904 20,714 32,618

Equity (Tables)

Equity (Tables)	12 Months Ended
Equity (Tables)	Dec. 31, 2021
Equity [abstract]
Summary of majority shareholders	Number of Shares Percentage of Name Beneficially Owned Outstanding Shares () Grupo Villar Mir, S.A.U. 91,125,519 48.60 % Rubric Capital Management LP 13,648,711 7.3 % The Goldman Sachs Group, Inc. 9,806,757 5.2 % () 187,313,460 ordinary shares were outstanding at 31 December 2021, comprising 188,882,316 shares in issue less 1,568,854 shares held in treasury
The disclosure of valuation adjustments.	Valuation adjustments comprise the following at December 31: 2021 2020 US$'000 US$'000 Actuarial gains and losses 5,525 4,833 Hedging instruments and other — 922 Total 5,525 5,755
Schedule of changes in non-controlling interests	Balance US$'000 Balance at January 1, 2020 118,077 Loss for the year (3,419) Translation differences (154) Balance at December 31, 2020 114,504 Loss for the year (4,750) Dividends paid to joint venture partner (5,880) Translation differences 166 Other 2,013 Balance at December 31, 2021 106,053
Summary of financial information for non-controlling interests	2021 2020 2019 WVA QSLP WVA QSLP WVA QSLP US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Statements of Financial Position Non-current assets 76,865 63,088 80,887 67,806 80,923 63,639 Current assets 66,336 46,186 58,404 37,095 56,839 30,931 Non-current liabilities 14,677 19,005 14,677 18,186 14,677 19,944 Current liabilities 32,612 14,671 23,208 16,320 27,579 7,277 Income Statements Sales 165,660 89,446 156,995 70,637 167,503 78,414 Operating profit 6,696 2,093 5,900 3,113 6,688 252 Profit before taxes 6,507 1,237 5,900 2,898 6,423 (36) Net (loss) income 3,318 613 3,008 1,666 3,276 (70) Cash Flow Statements Cash flows from operating activities 11,981 8,997 28,683 15,387 2,287 3,720 Cash flows from investing activities (3,893) (4,956) (7,977) (5,227) (2,256) (3,544) Cash flows from financing activities — — — — — 227 Exchange differences on cash and cash equivalents in foreign currencies — 31 — 45 — 149 Beginning balance of cash and cash equivalents 27,272 12,524 6,566 2,319 6,535 1,767 Ending balance of cash and cash equivalents 35,360 16,596 27,272 12,524 6,566 2,319

Earnings (loss) per ordinary _2

Earnings (loss) per ordinary share (Tables)	12 Months Ended
Earnings (loss) per ordinary share (Tables)	Dec. 31, 2021
Earnings per share [abstract]
Schedule of earnings (loss) per share calculation	2021 2020 2019 US$'000 US$'000 US$'000 (Loss) for the year from continuing operations (115,374) (244,359) (370,277) (Loss) profit for the year from discontinued operations — (5,399) 84,637 Total (Loss) for the year (115,374) (249,758) (285,640) Attributable to the Parent (110,624) (246,339) (280,601) Attributable to non-controlling interests (4,750) (3,419) (5,039) Earnings per share 2021 2020 2019 Numerator: (Loss) attributable to the Parent (US$'000) (110,624) (246,339) (280,601) Denominator: Weighted average basic and dilutive shares outstanding 176,508,144 169,269,281 169,152,905 Basic and diluted (loss) earnings per ordinary share (US$) (0.63) (1.46) (1.66) Numerator: (Loss) for the year from continuing operations attribuitable to the Parent (US$'000) (110,624) (240,940) (365,238) Denominator: Weighted average basic and dilutive shares outstanding 176,508,144 169,269,281 169,152,905 Basic and diluted (loss) earnings per ordinary share (US$) (0.63) (1.42) (2.16) Numerator: (Loss) profit for the year from discontinued operations (US$'000) — (5,399) 84,637 Denominator: Weighted average basic and dilutive shares outstanding 176,508,144 169,269,281 169,152,905 Basic and diluted (loss) earnings per ordinary share (US$) — (0.03) 0.50

Provisions - (Tables)

Provisions - (Tables)	12 Months Ended
Provisions - (Tables)	Dec. 31, 2021
Disclosure of other provisions [line items]
Schedule showing breakdown of non-current and current provisions	2021 2020 Non- Current Current Total Non- Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Provision for pensions 41,238 180 41,418 56,395 191 56,586 Environmental provision 2,562 1,133 3,695 2,910 1,256 4,166 Provisions for litigation — 1,952 1,952 — 1,355 1,355 Provisions for third-party liability 8,905 — 8,905 10,759 — 10,759 Provisions for C02 emissions allowances 3,033 107,213 110,246 — 40,161 40,161 Provision for restructuring cost — 22,350 22,350 — 2 2 Other provisions 5,220 4,797 10,017 38,423 12,331 50,754 Total 60,958 137,625 198,583 108,487 55,296 163,783
Schedule of changes in provisions	The changes in the various line items of provisions in 2021 and 2020 were as follows: Provisions for Provisions for Provisions for Provisions for Provision for Environmental Litigation Third CO2 Emissions Restructuring Other Pensions Provision in Progress Party Liability Allowances Cost Provisions Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Balance at January 1, 2020 57,729 4,108 3,905 9,263 34,938 2 21,002 130,943 Charges for the year 5,340 117 184 268 38,249 — 30,890 75,048 Provisions reversed with a credit to income (1,843) — — — — — (1,972) (3,815) Amounts used (3,514) (26) (2,886) (198) (35,860) — — (42,484) Provision against equity (3,260) — — 568 — — — (2,692) Exchange differences and others 2,134 (33) 152 858 2,834 — 838 6,783 Disposals from business divestitures — — — — — — — — Balance at December 31, 2020 56,586 4,166 1,355 10,759 40,161 2 50,754 163,783 Charges for the year 5,990 28 934 588 97,982 31,838 (12) 137,348 Provisions reversed with a credit to income (1,419) (189) — — (7,830) — (9,419) (18,857) Amounts used (9,911) (1) (233) (535) (18,420) (9,534) (269) (38,903) Provision against equity (6,847) — — (1,081) — — — (7,928) Transfers from/(to) other accounts — (33) — — — 44 (28,437) (28,426) Exchange differences and others (2,981) (276) (104) (826) (1,647) — (2,600) (8,434) Balance at December 31, 2021 41,418 3,695 1,952 8,905 110,246 22,350 10,017 198,583
France
Disclosure of other provisions [line items]
Schedule of changes in obligation	2021 2020 US$'000 US$'000 Obligations at the beginning of year 34,496 32,795 Current service cost 1,082 1,580 Borrowing costs 212 242 Actuarial differences (3,003) (2,170) Benefits paid (995) (1,037) Exchange differences (2,412) 3,086 Others (3,430) — Obligations at the end of year 25,950 34,496
Schedule of estimated future benefit payments	The following table reflects the gross benefit payments that are expected to be paid for the benefit plans for the year ended December 31, 2021: 2021 US$'000 2022 1,016 2023 1,281 2024 2,078 2025 1,563 2026 1,488 Years 2027-2031 8,458
South Africa
Disclosure of other provisions [line items]
Schedule of changes in obligation	In this regard, the changes of this provision in 2021 and 2020 were as follows: 2021 2020 US$'000 US$'000 Obligations at beginning of year 3,461 4,601 Current service cost 32 47 Borrowing costs 390 435 Actuarial differences 526 (1,238) Benefits paid (232) (278) Exchange differences (398) (106) Obligations at end of year 3,779 3,461
Schedule of breakdown in percentage of plan assets	The breakdown, in percentage, of the plan assets are as follows: 2021 2020 Cash 2.85 % 1.84 % Equity 47.21 % 41.70 % Bond 17.32 % 18.53 % Property 2.79 % 1.68 % International 28.42 % 32.02 % Others 1.41 % 4.23 % Total 100.00 % 100.00 %
Schedule showing fair value rollforward of plan assets	2021 2020 US$'000 US$'000 Fair value of plan assets at the beginning of the year 2,204 2,126 Interest income on assets 172 200 Benefits paid (775) — Actuarial differences 223 (77) Other (118) (45) Fair value of plan assets at the end of the year 1,706 2,204 Actual return on assets 395 122
Venezuela
Disclosure of other provisions [line items]
Schedule of changes in obligation	In this regards, the changes of this provision in 2021 and 2020 2021 2020 US$'000 US$'000 Obligations at the beginning of year 22 2,577 Current service cost 102 26 Borrowing costs 115 596 Benefits paid (2) (2) Exchange differences (47) (956) Other — (2,220) Obligations at the end of year 190 22
Summary of the main actuarial assumptions used to calculate obligations	The summary of the main actuarial assumptions used to calculate the aforementioned obligations is as follows: France South Africa Venezuela 2021 2020 2021 2020 2021 2020 Salary increase 1.60%-6.10% 1.60%-6.10% N/A 5.80%-9.10% % 500 % 500 % Discount rate 0.75% 0.75% 10.60-11.60% 9.80%-13.2% % 536 % 536 % Expected inflation rate 1.60% 1.60% 5.80-7.10% 4.80%-7.60% % 550 % 550 % Mortality TGH05/TGF05 TGH05/TGF05 SA 85-90 / PA (90) SA 85-90 / PA (90) GAM 83 GAM 83 Retirement age 65 65 63 63 63-64 65
North America
Disclosure of other provisions [line items]
Schedule of changes in obligation	The changes to these obligations in the current year ended December 31, 2021 were as follows: 2021 USA Canada Total Pension Pension Post-retirement Plans Plans Plans US$'000 US$'000 US$'000 US$'000 Obligations at the beginning of year 39,214 28,110 9,632 76,956 Service cost 151 162 371 684 Borrowing cost 566 720 262 1,548 Actuarial differences (18) (2,688) (1,555) (4,261) Benefits paid (1,693) (1,020) (169) (2,882) Exchange differences 65 28 93 Expenses (119) — — (119) Plan settlement (38,101) — — (38,101) Obligations at the end of year — 25,349 8,569 33,918
Schedule of estimated future benefit payments	The following reflects the gross benefit payments that are expected to be paid in future years for the benefit plans for the year ended December 31: Non-pension Postretirement Pension Plans Plans US$'000 US$'000 2022 1,043 194 2023 1,086 203 2024 1,176 228 2025 1,230 251 Years 2026-2030 6,599 1,578
Schedule of breakdown in percentage of plan assets	2021 2020 Cash — % 33 % Equity Mutual Funds 27 % 10 % Fixed Income Securities 14 % 32 % Assets held by insurance company 59 % 25 % Total 100 % 100 %
Schedule showing fair value rollforward of plan assets	For the year ended December 31, 2021, the changes in plan assets were as follows: 2021 USA Canada Pension Pension Plans Plans Total US$'000 US$'000 US$'000 Fair value of plan assets at the beginning of the year 36,011 22,337 58,348 Interest income on assets 514 582 1,096 Benefits paid (1,693) (1,020) (2,713) Actuarial return on plan assets (610) (47) (657) Exchange differences — 57 57 Other 48 508 556 Plan Settelment (34,256) — (34,256) Fair value of plan assets at the end of the year 14 22,417 22,431
Summary of the main actuarial assumptions used to calculate obligations	North America – 2021 North America – 2020 USA Canada USA Canada Pension Pension Postretirement Pension Pension Postretirement Plan Plan Plan Plan Plan Plan Salary increase N/A 2.75% - 3.00% N/A N/A 2.75% - 3.00% N/A Discount rate N/A 3.21% 3.30% 2.25% 2.61% 2.75% Expected inflation rate N/A N/A N/A N/A N/A N/A Mortality N/A CPM2014-Private Scale CPM-B CPM2014-Private Scale CPM-B Pri-2012 Blue Collar Mortality CPM2014-Private CPM2014-Private Scale CPM-B Retirement age N/A 58 60 58 60 65 58 60 58 60
Schedule showing reconciliation of benefit obligations, plan assets and funded status	Benefit Obligations and Funded Status 2021 2020 USA Canada Total USA Canada Total Post- Post- Pension Pension retirement Pension Pension retirement Plans Plans Plans Plans Plans Plans US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Benefit obligation — 25,349 8,569 33,918 39,214 28,110 9,632 76,956 Fair value of plan assets (14) (22,417) — (22,431) (36,011) (22,337) — (58,348) Provision for pensions (14) 2,932 8,569 11,487 3,203 5,773 9,632 18,608
FerroPem, S.A.S.
Disclosure of other provisions [line items]
Schedule of estimated future benefit payments	The following table reflects the gross benefit payments that are expected to be paid for the benefit plans for the year ended December 31, 2021: 2021 US$'000 2022 - 2023 532 2024 269 2025 272 2026 277 Years 2027-2031 1,428

Bank borrowings - (Tables)

Bank borrowings - (Tables)	12 Months Ended
Bank borrowings - (Tables)	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Schedule of non-current and current bank borrowings	2021 Non-Current Current Limit Amount Amount Total US$'000 US$'000 US$'000 US$'000 Borrowings carried at amortised cost: Borrowings from receivable factoring facility 67,956 — 93,090 93,090 Other loans — 3,670 2,207 5,877 Total 3,670 95,297 98,967 2020 Non-Current Current Limit Amount Amount Total US$'000 US$'000 US$'000 US$'000 Borrowings carried at amortised cost: Credit facilities 100,000 — 27,237 27,237 Borrowings from receivable factoring facility 73,626 — 74,844 74,844 Other loans 5,277 249 5,526 Total 5,277 102,330 107,607
Schedule of credit facilities	2021 2020 US$'000 US$'000 Secured loans carried at amortised cost Principal amount — 31,155 Unamortised issuance costs — (3,918) Accrued interest — — Total — 27,237 Amount due for settlement within 12 months — 27,237 Amount due for settlement after 12 months — — Total — 27,237
Schedule of non-current and current bank borrowings by currency	The breakdown by currency of bank borrowings at December 31, is as follows: 2021 Non-Current Current Principal Principal Amount Amount Total US$'000 US$'000 US$'000 Borrowings in US Dollars — 1,245 1,245 Borrowings in Euros 3,670 94,052 97,722 Total 3,670 95,297 98,967 2020 Non-Current Current Principal Principal Amount Amount Total US$'000 US$'000 US$'000 Borrowings in US Dollars — 27,486 27,486 Borrowings in other currencies 5,277 74,844 80,121 Total 5,277 102,330 107,607
Schedule of non-current bank borrowings by maturity	2021 2022 2025 Total US$'000 US$'000 US$'000 Credit facilities — — — Borrowings from supplier factoring facility 93,941 — 93,941 Other loans 2,229 3,670 5,899 Total 96,170 3,670 99,840

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2021
Leases
Schedule of lease obligations	Lease obligations as at December 31 are as follows: 2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Other leases 9,968 8,390 18,358 13,994 8,542 22,536 Total 9,968 8,390 18,358 13,994 8,542 22,536
Schedule of non-current payment obligations under leases by maturity	The detail, by maturity, of the non-current payment obligations under leases as of December 31, 2021 is as follows: 2023 2024 2025 2026 2027 and after Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Other leases 5,905 1,672 1,027 310 1,054 9,968 Total 5,905 1,672 1,027 310 1,054 9,968
Schedule of effect on components of consolidated financial statements	2021 2020 US$'000 US$'000 Balance at December 31, (22,536) (25,872) Additions (7,761) (5,471) Disposals and other 517 102 Interest (1,100) (1,358) Lease payments 11,285 11,673 Exchange differences 1,237 (1,610) Balance at December 31, (18,358) (22,536)
Schedule of leases presented in the statement of financial position	2021 2020 US$'000 US$'000 Non-current assets Leased land and buildings 17,156 17,588 Leased plant and machinery 27,762 24,446 Accumulated depreciation (29,855) (22,498) Non-current liabilities Lease liabilities (9,968) (13,994) Current liabilities Lease liabilities (8,390) (8,542)
Schedule of leases presented in the consolidated income statement	2021 2020 US$'000 US$'000 Depreciation and amortization charges, operating allowances and write-downs Depreciation of right of use assets 7,357 10,112 Finance costs Interest expense on lease liabilities 1,100 1,358 Exchange differences Currency translation losses on lease liabilities 1,237 (1,610) Currency translation gains on right of use assets (1,838) 2,138
Schedule of leases presented in the statement of cash flows	2021 2020 US$'000 US$'000 Payments for: Principal 10,185 10,315 Interest 1,100 1,358

Debt instruments (Tables)

Debt instruments (Tables)	12 Months Ended
Debt instruments (Tables)	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Schedule of debt instruments	Debt instruments comprise the following at December 31: 2021 2020 US$'000 US$'000 Notes carried at amortised cost Secured Super Senior Notes 60,000 — Secured Reinstated Senior Notes 351,003 — Unsecured Stub Notes 4,942 350,000 Unamortised issuance costs (6,064) (3,380) Accrued coupon interest 30,416 10,888 Total 440,297 357,508 Amount due for settlement within 12 months 35,359 10,888 Amount due for settlement after 12 months 404,938 346,620 Total 440,297 357,508

Other financial liabilities (Ta

Other financial liabilities (Tables)	12 Months Ended
Other financial liabilities (Tables)	Dec. 31, 2021
Disclosure of financial liabilities [abstract]
Schedule of other financial liabilities	Other financial liabilities comprise the following at December 31: 2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Financial loans from government agencies 4,549 62,464 67,013 29,094 34,802 63,896 Derivative financial instruments — — — — — Total 4,549 62,464 67,013 29,094 34,802 63,896

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
Trade and other payables (Tables)	Dec. 31, 2021
Trade and other payables.
Schedule of trade and other payables	Trade and other payables comprise the following at December 31: 2021 2020 US$'000 US$'000 Payable to suppliers 200,999 147,512 Trade notes and bills payable 5,001 1,689 Total 206,000 149,201

Other Obligation (Tables)

Other Obligation (Tables)	12 Months Ended
Other Obligation (Tables)	Dec. 31, 2021
Other Obligations
Summary of other obligation	2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Payable to non-current asset suppliers 135 2,677 2,812 130 2,633 2,763 Guarantees and deposits 14 4,554 4,568 17 266 283 Contingent consideration 13,504 13,023 26,527 14,859 1,773 16,632 Tolling agreement liability 24,429 2,589 27,018 — — — Total 38,082 22,843 60,925 15,006 4,672 19,678
Schedule of sensitivity to changes in assumptions to determine fair value of the contingent consideration	Sensibility on discount rate Contigent consideration Decrease Increase December 31, 2021 by 10% by 10% Fair value contingent consideration 26,526 26,922 26,145

Other liabilities (Tables)

Other liabilities (Tables)	12 Months Ended
Other liabilities (Tables)	Dec. 31, 2021
Disclosure of detailed information about business combination [line items]
Schedule of other liabilities	2021 2020 Non- Non- Current Current Total Current Current Total US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Remuneration payable — 36,046 36,046 20 27,552 27,572 Tax payables — 17,613 17,613 — 23,177 23,177 Other liabilities 1,476 20,669 22,145 1,741 10,592 12,333 Total 1,476 74,328 75,804 1,761 61,321 63,082
Schedule of tax payables	2021 2020 Current Total Current Total US$'000 US$'000 US$'000 US$'000 VAT 4,839 4,839 4,061 4,061 Accrued social security taxes payable 6,251 6,251 13,266 13,266 Personal income tax withholding payable 820 820 1,111 1,111 Other 5,703 5,703 4,739 4,739 Total 17,613 17,613 23,177 23,177
Schedule of summary of options outstanding	Number of awards Outstanding as of December 31, 2019 2,175,853 Granted during the period 1,411,271 Exercised during the period (175,150) Outstanding as of December 31, 2020 3,411,974 Granted during the period 1,307,934 Exercised during the period (309,462) Expired/forfeited during the period (51,010) Outstanding as of December 31, 2021 4,359,436 Exercisable as of December 31, 2021 455,790
Schedule of share based payment arrangements	Fair Value at Grant Date Performance Period Expiration Date Exercise Price Grant Date 2021 2020 September 9, 2021 December 31, 2023 September 9, 2031 nil $ 8.83 1,307,934 — December 16, 2020 December 31, 2024 December 16, 2030 nil $ 1.23 1,411,271 1,411,271 March 13, 2019 December 31, 2022 March 13, 2029 nil $ 2.69 1,184,441 1,184,441 June 14, 2018 N/A June 13, 2028 nil $ 9.34 70,774 85,739 March 21, 2018 December 31, 2021 March 20, 2028 nil $ 22.56 136,434 263,153 June 20, 2017 December 31, 2020 June 20, 2027 nil $ 15.90 — 17,342 June 1, 2017 N/A June 1, 2027 nil $ 10.96 834 834 June 1, 2017 December 31, 2020 June 1, 2027 nil $ 16.77 168,469 304,811 November 24, 2016 December 31, 2019 November 24, 2026 nil $ 16.66 79,279 144,383 4,359,436 3,411,974
Schedule of performance condition of share options granted	Vesting Conditions 40% based on share price 30% based on Operating (Loss) profit plus depreciation and amortization charges 30% based on net cash flow
Schedule of assumptions used to estimate the fair value of Ferroglobe stock option	Grant date September 9, 2021 December 16, 2020 March 13, 2019 March 21, 2018 June 20, 2017 June 01, 2017 November 24, 2016 Fair value at grant date $ 8.83 $ 1.23 $ 2.69 $ 22.56 $ 1,590 $ 16.77 $ 11.81 Grant date share price $ 8.57 $ 1.61 $ 2.44 $ 15.19 $ 1,050 $ 10.96 $ 11.81 Exercise price 0.01 Nil Nil Nil Nil Nil Nil Expected volatility 104.75 % 91.30 % 53.54 % 49.86 % 43.15 % 43.09 % 44.83 % Option life 2.31 years 4.00 years 3.00 years 3.00 years 3.00 years 3.00 years 3.00 years Dividend yield — — — % — % — % — % — % Risk-free interest rate 0.28 % 0.27 % 2.40 % 2.48 % 1.52 % 1.44 % 1.39 % Remaining performance period at grant date (years) 2.31 4.04 2.81 2.78 2.53 2.58 2.10 Company TSR at grant date NA NA (48.1) % 2.1 % (0.3) % 4.0 % 40.0 % Median comparator group TSR at grant date NA NA (4.8) % (6.2) % (7.2) % (3.7) % 56.4 % Median index TSR at grant date NA NA 10.9 % (8.4) % 0.6 % 4.8 % 45.7 %
Globe Specialty Metals, Inc.
Disclosure of detailed information about business combination [line items]
Schedule of summary of options outstanding	Weighted- Average Weighted- Remaining Average Contractual Aggregate Number of Exercise Term in Intrinsic Options Price Years Value Outstanding as of December 31, 2019 26,268 $ 16.70 0.16 $ — Expired/forfeited during the period Outstanding as of December 31, 2020 26,268 $ 16.70 0.16 $ — Expired/forfeited during the period — Outstanding as of December 31, 2021 26,268 $ 16.70 0.16 $ — Exercisable as of December 31, 2021 26,268 $ 16.70 0.16 $ —

Tax matters (Tables)

Tax matters (Tables)	12 Months Ended
Tax matters (Tables)	Dec. 31, 2021
Tax matters
Schedule of income taxes	2021 2020 2019 US$'000 US$'000 US$'000 Consolidated income statement Current income tax Current income tax charge 5,284 4,307 2,133 Adjustments in current income tax in respect of prior years — 901 4,753 Adjustments in current income tax due to discounted operations — — — Total 5,284 5,208 6,886 Deferred tax Origination and reversal of temporary differences (9,954) (20,961) (48,618) Impact of tax rate changes - — (46) Impairment of deferred tax assets - 37,660 — Adjustments in deferred tax in respect of prior years 108 33 237 Total (9,846) 16,732 (48,427) Income tax expense (benefit) (4,562) 21,939 (41,541)
Schedule of statutory income tax rate	2021 2020 2019 US$'000 US$'000 US$'000 Accounting profit/(loss) before income tax (119,936) (222,420) (411,818) Adjustment for discontinued operations — (5,399) (28,135) Accounting profit/(loss) before income tax (119,936) (227,819) (439,954) At weighted effective tax rate of 18% (2020: 24% and 2019: 24%) (22,650) (54,294) (105,369) Non-taxable income/(expenses) — — (17,020) Non-deductible income/ (expenses) (11,399) 6,779 49,390 Movements in unprovided deferred tax — — 4,604 Differing territorial tax rates 2,603 3,064 (3,987) Adjustments in respect of prior periods — (50) 2,160 Other items 27,885 70,123 20,407 Elimination of effect of interest in joint ventures (782) 899 917 Other permanent differences (673) (389) 9,234 Incentives and deductions 88 (2,456) (1,302) US State taxes 367 (1,737) (824) Taxable capital gains — — 249 Adjustments in current income tax due to discontinued operations — — — Income tax expense (benefit) (4,562) 21,939 (41,541)
Schedule of changes in deferred tax assets and liabilities	For the year ended December 31, 2021: Opening Prior Year Recognised in Impairment of Reclassifications Exchange Closing Balance Charge P&L Deferred Tax Assets Differences Balance US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Intangible assets (458) 21 (34) — — 20 (451) Biological assets (1) — 1 — — — — Provisions 14,235 (7) 8,503 — (986) (73) 21,673 Property, plant & equipment (48,263) (585) (7,481) — 3,238 860 (52,231) Inventories 64 — (64) — — — Tax losses 9,525 — 1,491 — (3,959) (704) 6,353 Incentives & credits 1,426 — 7,906 — — 1 9,333 Partnership interest (8,983) — 469 — — — (8,514) Other 4,674 — (266) — 1,256 39 5,703 Total (27,781) (571) 10,525 — (451) 143 (18,135) For the year ended December 31, 2020: Opening Prior Year Recognised in Impairment of Reclassifications Exchange Closing Balance Charge P&L Deferred Tax Assets Differences Balance US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Intangible assets (414) — (44) — — — (458) Biological assets (1) — — — — — (1) Provisions 15,928 — 2,757 (3,357) (1,655) 562 14,235 Property, plant & equipment (64,697) — 16,094 (219) 434 125 (48,263) Inventories (2,542) — 639 — 1,993 (26) 64 Tax losses 41,728 — (1,073) (33,162) (154) 2,187 9,525 Incentives & credits 2,139 — — (921) 169 40 1,426 Partnership interest (9,890) — 1,647 — (740) — (8,983) Other 3,243 — 909 — 533 (10) 4,674 Total (14,506) — 20,928 (37,660) 580 2,878 (27,781) Presented in the statement of financial position as follows: 2021 2020 US$'000 US$'000 Deferred tax assets 45,246 31,528 Deferred tax liabilities (63,381) (59,309) Offset between deferred tax assets and deferred tax liabilities 38,236 31,528 Total deferred tax assets due to temporary differences recognized in the statement of financial position 7,010 — Total deferred tax liabilities due to temporary differences recognized in the statement of financial position (25,145) (27,781)
Schedule of unrecognised deductible temporary differences, unused tax losses and unused tax credits	2021 2020 US$'000 US$'000 Unused tax losses 624,635 513,189 Unused tax credits 8,487 8,685 Unrecognised deductible temporary differences 135,174 106,952 Total 768,296 628,826

Related party transactions an_2

Related party transactions and balances (Tables)	12 Months Ended
Related party transactions and balances (Tables)	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Schedule of balances with related parties	Balances with related parties at December 31 are as follows: 2021 Receivables Payables Non-Current Current Non-Current Current US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — 2,841 — — Villar Mir Energía, S.L.U. 1,699 — — 8,808 Espacio Information Technology, S.A.U. — — — 737 Other related parties — — — — Total 1,699 2,841 — 9,545 2020 Receivables Payables Non-Current Current Non-Current Current US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — 3,078 — — Villar Mir Energía, S.L.U. 2,454 — — 2,458 Espacio Information Technology, S.A.U. — — — 701 Other related parties — (2) — 37 Total 2,454 3,076 — 3,196
Schedule of transactions with related parties and other related parties	2021 Sales and Raw materials Other Finance Operating and energy Operating Income Income consumption for production Expenses (Note 26.4) US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — — — — Villar Mir Energía, S.L.U. — 132,566 1,365 — Espacio Information Technology, S.A.U. — — 3,266 — Enérgya VM Gestión, S.L — — 120 — Aurinka — — 111 — Other related parties — — 68 — Total — 132,566 4,930 — 2020 Sales and Raw materials Other Finance Operating and energy Operating Income Income consumption for production Expenses (Note 26.4) US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — — — 16 Villar Mir Energía, S.L.U. — 39,900 647 — Espacio Information Technology, S.A.U. — — 3,171 — Enérgya VM Gestión, S.L — — 79 — Aurinka — 1 308 — Other related parties — — 3 — Total — 39,901 4,208 16 2019 Sales and Raw materials Other Finance Operating and energy Operating Income Income consumption for production Expenses (Note 26.4) US$'000 US$'000 US$'000 US$'000 Inmobiliaria Espacio, S.A. — — 1 68 Villar Mir Energía, S.L.U. — 65,406 681 — Espacio Information Technology, S.A.U. — — 3,566 — Enérgya VM Generación, S.L 1 — 1 — Enérgya VM Gestión, S.L — 1 89 — Aurinka — — 3,206 — Other related parties 143 — 7 — Total 144 65,407 7,551 68
Discontinued operations
Disclosure of transactions between related parties [line items]
Schedule of transactions with related parties and other related parties	At 31 December, 2020 and 2021, there were not discontinued transactions considered with Related Parties. Transactions with related parties in 2019 are as follows: 2019 Sales and Raw materials Other Operating and energy Operating Income consumption for production Expenses US$'000 US$'000 US$'000 Villar Mir Energía, S.L.U. — — 373 Enérgya VM Generación, S.L 12,635 — 117 Enérgya VM Gestión, S.L — 66 — Total 12,635 66 490

Income and expenses (Tables)

Income and expenses (Tables)	12 Months Ended
Income and expenses (Tables)	Dec. 31, 2021
Income and expenses
Sales by segment	2021 2020 2019 US$'000 US$'000 US$'000 North America - Silicon 524,808 425,277 551,500 Europe - Silicon 665,337 467,728 593,907 Europe - Manganese 476,287 240,142 564,060 South Africa - Silicon 117,195 80,572 136,292 Other segments 43,568 25,334 43,147 Eliminations (48,287) (94,619) (273,684) Total 1,778,908 1,144,434 1,615,222
Sales by geographical area	2021 2020 2019 US$'000 US$'000 US$'000 Spain 251,528 133,370 183,969 Germany 292,774 191,107 249,911 Italy 76,721 42,067 99,796 France 130,811 79,491 109,513 Other EU Countries 176,046 88,443 220,475 USA 515,095 404,633 533,764 Rest of World 335,933 205,323 217,794 Total 1,778,908 1,144,434 1,615,222
Schedule of average monthly number of employees	2021 2020 2019 Directors 8 6 8 Senior Managers 289 291 345 Employees 2,997 3,020 3,383 Total 3,294 3,317 3,736
Schedule of staff costs	2021 2020 2019 US$'000 US$'000 US$'000 Wages, salaries and similar expenses 214,374 161,957 208,317 Pension plan contributions 7,571 3,641 12,787 Employee benefit costs 58,972 49,184 63,925 Total 280,917 214,782 285,029
Schedule of depreciation and amortization charges, operating allowances and write-downs	2021 2020 2019 US$'000 US$'000 US$'000 Amortization of intangible assets (Note 8) 7,241 7,183 7,305 Depreciation of property, plant and equipment (Note 9) 90,087 101,006 112,824 Other write-downs and reversals — — 65 Total 97,328 108,189 120,194
Schedule of finance income	2021 2020 2019 US$'000 US$'000 US$'000 Finance income of related parties (Note 24) — 16 68 Other finance income 253 161 1,312 Total 253 177 1,380
Schedule of finance costs	2021 2020 2019 US$'000 US$'000 US$'000 Interest on debt instruments 42,579 34,989 33,705 Interest on loans and credit facilities 12,584 8,404 15,533 Interest on note and bill discounting 88 363 373 Interest on leases 1,100 1,358 1,972 Trade receivables securitization expense (Note 10) 399 15,044 9,192 Other finance costs 92,439 6,810 2,450 Total 149,189 66,968 63,225
Schedule of changes in impairment losses	2021 2020 2019 US$'000 US$'000 US$'000 Impairment of goodwill (Note 7) — — (174,008) Impairment of intangible assets (Note 8) (1,153) — (211) Impairment of property, plant and equipment (Note 9) 1,663 (71,929) (1,224) Impairment of non-current financial assets (373) — (456) Impairment of other — (1,415) — Impairment (reversal)/losses 137 (73,344) (175,899) Increase (decrease) in fair value of biological assets (Note 29) — — (530) Other (loss) / profit 758 158 (1,044) Net (loss) gain due to changes in the value of assets 758 158 (1,574)
Schedule of (loss) gain on disposal of non-current assets	Loss (gain) on disposal of non-current assets is comprised of the following for the years ended December 31: 2021 2020 2019 US$'000 US$'000 US$'000 Gain on disposal of intangible assets — 1,692 — Gain on disposal of property, plant and equipment 2,462 473 353 Loss on disposal of property, plant and equipment (1,123) (873) (1,761) Gain on disposal of other non-current assets 47 — 6 Loss on disposal of other non-current assets — — (Loss) gain on disposal of subsidiary — — (821) Total 1,386 1,292 (2,223)
Schedule of contractual assets and liabilities	2021 2020 2019 US$'000 US$'000 US$'000 Contractual Assets 5,785 5,152 5,271 Contractual Liabilities 5,047 1,687 134 Total 10,832 6,839 5,405

Remuneration of key managemen_2

Remuneration of key management personnel (Tables)	12 Months Ended
Remuneration of key management personnel (Tables)	Dec. 31, 2021
Remuneration of key management personnel
Schedule of remuneration of key management personal	2021 2020 2019 US$'000 US$'000 US$'000 Fixed remuneration 5,244 5,086 5,404 Variable remuneration 1,209 756 254 Contributions to pension plans and insurance policies 373 319 350 Share-based compensation 3,627 2,017 4,882 Termination benefits 119 1,886 1,147 Other remuneration 17 9 7 Total 10,589 10,073 12,044

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
Financial risk management (Tables)	Dec. 31, 2021
Financial risk management
Schedule of interest bearing financial liabilities	At December 31, the Company’s interest-bearing financial liabilities were as follows: 2021 Fixed rate Floating rate Total US$'000 US$'000 US$'000 Bank borrowings — 98,967 98,967 Obligations under leases — 18,358 18,358 Debt instruments 440,297 — 440,297 Other financial liabilities () 67,013 — 67,013 507,310 117,325 624,635 () Note 2020 Fixed rate Floating rate Total US$'000 US$'000 US$'000 Bank borrowings — 107,607 107,607 Obligations under leases — 22,537 22,537 Debt instruments 357,508 — 357,508 Other financial liabilities () 63,896 — 63,896 421,404 130,144 551,548 () Note
Schedule of undiscounted cash flow maturities	2021 Less than 1 year Between 1-2 years Between 2-5 years After 5 years Total US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 95,899 — 3,670 — 99,569 Leases 8,092 5,897 3,251 1,289 18,529 Debt instruments 57,440 37,749 493,585 — 588,774 Financial loans from government agencies 63,868 4,304 245 68,417 Payables to related parties 9,545 — — — 9,545 Payable to non-current asset suppliers 2,677 135 — — 2,812 Contingent consideration 13,023 10,684 6,844 — 30,551 Tolling agreement liability 2,589 2,367 5,952 18,379 29,287 Trade and other payables 206,000 — — — 206,000 459,133 61,136 513,547 19,668 1,053,484 2020 Less than 1 year Between 1-2 years Between 2-5 years After 5 years Total US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 108,613 5,277 — — 113,890 Finance leases 8,796 6,350 7,130 1,748 24,024 Debt instruments 32,813 366,406 — — 399,219 Financial loans from government agencies 36,672 7,209 18,274 6,501 68,656 Payables to related parties 3,196 — — — 3,196 Payable to non-current asset suppliers 130 2,633 — — 2,763 Contingent consideration 1,772 4,175 15,892 3,277 25,116 Trade and other payables 149,201 — — — 149,201 341,193 392,050 41,296 11,526 786,065
Schedule of changes in liabilities arising from financing activities	January 1, 2021 Changes from financing cash flows Effect of changes in foreign exchange rates Changes in fair values Interest expenses Other changes December 31, 2021 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 107,607 (15,604) 1,927 — — 5,037 98,967 Obligations under leases 22,536 (11,232) (1,188) — — 8,242 18,358 Debt instruments () 357,508 43,295 — 6,462 36,233 (3,201) 440,297 Financial loans from government agencies (Note 19) 63,896 (2,252) (702) — 6,071 — 67,013 Total liabilities from financing activities 551,547 14,207 37 6,462 42,304 10,078 624,635 Dividends paid — Proceeds from stock option exercises — Other amounts paid due to net financing activities () (3,755) Payments to acquire or redeem own shares — Net cash (used) by financing activities 10,452 () Changes from financing cash flows in debt instruments include payments due to interest amounting to $16,705 thousand and proceeds from debt issuances of $60,000 thousand. (*) Other amounts paid due to financing activities include payments due to equity issuance costs amounting to $43,755 thousand and proceeds from equity issuance of $40,000 thousand. January 1, 2020 Changes from financing cash flows Effect of changes in foreign exchange rates Changes in fair values Other changes () December 31, 2020 US$'000 US$'000 US$'000 US$'000 US$'000 US$'000 Bank borrowings 158,998 (67,343) 10,295 — 5,657 107,607 Obligations under leases 25,873 (10,315) 1,608 — 5,370 22,536 Debt instruments 354,952 (32,812) — 35,368 357,508 Financial loans from government agencies (Note 19) 56,939 — 4,865 — 2,092 63,896 Derivative financial instruments (Note 19) 9,600 3,608 (86) (14,329) 1,207 — Total liabilities from financing activities 606,362 (106,862) 16,682 (14,329) 49,694 551,547 Dividends paid — Proceeds from stock option exercises — Other amounts paid due to net financing activities (6,471) Payments to acquire or redeem own shares — Net cash provided by financing activities (113,333)

Fair value measurement (Tables)

Fair value measurement (Tables)	12 Months Ended
Fair value measurement (Tables)	Dec. 31, 2021
Disclosure of financial liabilities [abstract]
Schedule of assets and liabilities measured at fair value	December 31, 2021 Quoted prices in active markets Significant observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) US$'000 US$'000 US$'000 US$'000 Other financial assets (Note 10): Listed equity securities 847 847 — — Other obligations (Note 21) Contingent consideration in a business combinations (26,527) — — (26,527) December 31, 2020 Quoted prices in active markets Significant observable inputs Significant unobservable inputs Total (Level 1) (Level 2) (Level 3) US$'000 US$'000 US$'000 US$'000 Other financial assets (Note 10): Listed equity securities 2,609 2,609 — — Other obligations (Note 21) Contingent consideration in a business combinations (16,632) — — (16,632)
Schedule of changes fair value on recurring basis using significant unobservable inputs Level 3	Total US$'000 Fair value at December 31, 2019 (21,965) Changes in fair value through profit or loss 5,333 Fair value at December 31, 2020 (16,632) Changes in fair value through profit or loss (13,168) Payments 3,273 Fair value at December 31, 2021 (26,527)

Non-current assets held for s_2

Non-current assets held for sale (Tables)	12 Months Ended
Non-current assets held for sale (Tables)	Dec. 31, 2021
Non-current assets held for sale
Schedule of profit and loss statement from discontinued operations	2021 2020 2019 US$'000 US$'000 US$'000 Sales — — 13,164 Raw materials and energy consumption for production — — (271) Other operating income — — 365 Staff costs — — (1,450) Other operating expense — — (1,995) Depreciation and amortization charges, operating allowances and write-downs — — (2,830) Impairment losses — — — Operating Profit (loss) — — 6,983 Net finance expense — (6,433) (LOSS) PROFIT BEFORE TAXES FROM DISCONTINUED OPERATIONS — — 550 Income tax expense — — (1,015) Gain on sale of discontinued operation — (5,399) 85,102 (LOSS) PROFIT AFTER TAXES FROM DISCONTINUED OPERATIONS — (5,399) 84,637
Schedule of earnings per share from discontinued operations	2021 2020 2019 Basic earnings (loss) per ordinary share computation Numerator: Profit (loss) attributable to Discontinued Operations (US$'000) — (5,399) 84,637 Denominator: Weighted average basic shares outstanding — 169,269,281 169,152,905 Basic earnings (loss) per ordinary share (US$) — (0.03) 0.50 Diluted earnings (loss) per ordinary share computation Numerator: Profit (loss) attributable to Discontinued Operations (US$'000) — (5,399) 84,637 Denominator: Weighted average basic shares outstanding — 169,269,281 169,152,905 Effect of dilutive securities — — — Weighted average dilutive shares outstanding — 169,269,281 169,152,905 Diluted earnings (loss) per ordinary share (US$) — (0.03) 0.50
Schedule of cash flows from discontinued operations	2021 2020 2019 US$'000 US$'000 US$'000 Cash flows from operating activities: Profit for the period — (5,399) 84,637 Adjustments to reconcile net (loss) profit to net cash provided by operating activities: Income tax expense (benefit) — — 1,015 Depreciation and amortization charges, operating allowances and write-downs — — 2,830 Net Finance expense — — 6,433 Gains on disposals of non-current and financial assets — 5,399 (85,102) Changes in working capital Decrease / (increase) in accounts receivable — — (10,341) Decrease / (increase) in inventories — — 2 Increase / (Decrease) in accounts payable — — 89 Other changes in operating assets and liabilities Other, net — (24) 69,243 Income tax paid — — — Interest paid — — (2,307) Total cash flow from operating activities — (24) 66,499 Cash flows from investing activities: Payments due to investments: Property, plant and equipment — — (126) Disposals: Disposal of business, net of cash — — — Total cash flow from investing activities — — (126) Cash flows from financing activities: Other financing activities — — (66,457) Total cash flow from financing activities — — (66,457) INCREASE / (DECREASE) IN CASH — (24) (84) CASH AT BEGINNING OF PERIOD - 24 108 CASH AT END OF PERIOD — — 24

Organization and Subsidiaries -

Organization and Subsidiaries - Percentage of ownership (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Alabama Sand and Gravel, Inc \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Alden Resources, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Alden Sales Corporation, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
ARL Resources, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
ARL Services, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Core Metals Group Holdings, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Core Metals Group, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
ECPI, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Gatliff Services, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Globe BG, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GBG Financial LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GBG Holdings, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Globe Metallurgical Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Globe Metals Enterprises, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GSM Alloys I, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GSM Alloys II, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GSM Enterprises Holdings, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GSM Enterprises, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GSM Sales, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Laurel Ford Resources, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
LF Resources, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Metallurgical Process Materials, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Norchem, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
QSIP Canada ULC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Quebec Silicon General Partner
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	51.00%
Quebec Silicon General Partner \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	51.00%	51.00%
Quebec Silicon LP \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	51.00%	51.00%
Tennessee Alloys Company, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
West Virginia Alloys, Inc. \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
WVA Manufacturing, LLC \| North America Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	51.00%	51.00%
Cuarzos Industriales, S.A.U. \| Europe Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
FerroPem, S.A.S. \| Europe Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Rocas, Arcillas y Minerales, S.A. \| Europe Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferroatlantica del Cinca, S.L. \| Europe Manganese
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.90%	99.90%
Ferroatlantica de Sabon, S.L.U. \| Europe Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%
Ferroatlantica de Boo, S.L.U. \| Europe Manganese
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%
Ferroglobe Mangan Norge AS \| Europe Manganese
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferroglobe Manganese France SAS \| Europe Manganese
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Grupo FerroAtlantica, S.A.U \| Europe Manganese
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary - Direct		100.00%
Proportion of ownership interest in subsidiary		100.00%
Grupo FerroAtlantica, S.A.U \| Europe - Manganese and Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%
Ferrous Receivables DAC \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%
Kintuck (France) SAS \| Europe Manganese
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Kintuck AS \| Europe Manganese
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Rebone Mining (Pty.), Ltd. \| South Africa Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	74.00%	74.00%
Silicon Smelters (Pty.), Ltd. \| South Africa Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Silicon Technology (Pty.), Ltd. \| South Africa Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Thaba Chueu Mining (Pty.), Ltd. \| South Africa Silicon
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	74.00%	74.00%
Cuarzos Industriales de Venezuela (Cuarzoven), S.A. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Emix, S.A.S. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferroatlantica de Mexico, S.A. de C.V. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferroatlantica Participaciones, S.L.U. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Grupo FerroAtlantica de Servicios, S.A.U \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferroatlantica de Venezuela (FerroVen), S.A. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	99.90%	99.90%
Ferroatlantica Deutschland, GmbH \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferroatlantica Brasil Mineracao Ltda. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	70.00%	70.00%
Ferroatlantica I+D, S.L.U. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%
FerroAtlantica International Ltd \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%
Ferroglobe Services (UK) PLC \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary - Direct		100.00%
Proportion of ownership interest in subsidiary		100.00%
Ferroglobe Holding Company, LTD [Member] \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary - Direct	100.00%
Proportion of ownership interest in subsidiary	100.00%
Ferroglobe Finance Company, PLC [Member] \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%
FerroManganese Mauritania SARL \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	90.00%	90.00%
Ferroquartz Holdings, Ltd (Hong Kong) \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
FerroQuartz Mauritania SARL \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	90.00%	90.00%
Ferrosolar OPCO Group SL. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferrosolar R&D SL. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	50.00%	50.00%
FerroTambao, SARL \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	90.00%	90.00%
Globe Argentina Holdco, LLC \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Globe Metales S.R.L. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Globe Specialty Metals, Inc. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary - Direct		100.00%
Proportion of ownership interest in subsidiary	100.00%	100.00%
GSM Financial, Inc. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
GSM Netherlands, BV \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Hidroelectricite de Saint Beron, S.A.S \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Mangshi FerroAtlantica Mining Industry Service Company Ltd \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
MangShi Sinice Silicon Industry Company Limited \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%
Ningxia Yonvey Coal Industrial Co., Ltd. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	98.00%	98.00%
Photosil Industries, SAS \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Ferroglobe Innovation, S.L.U [Member] \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%
Silicio Ferrosolar, SLU \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary		100.00%
Solsil, Inc. \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	92.40%	92.40%
Ultracore Energy SA \| Other segments
Disclosure of subsidiaries [line items]
Proportion of ownership interest in subsidiary	100.00%	100.00%

Basis of Presentation and Bas_2

Basis of Presentation and Basis of Consolidation (Details) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	[1]	Feb. 28, 2022EUR (€)	Feb. 15, 2017USD ($)
DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems
Proceeds from equity issuance	$ 40,000
(Loss) for the year	$ (115,374)	$ (249,758)	$ (285,640)
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales
DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems
Principal amount \| €					€ 34.5
Senior Notes due 2022
DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems
Principal amount						$ 350,000
Fixed Interest Rate	9.375%					9.375%
Super Senior Notes
DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretationsLineItems
Principal amount	$ 60,000

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Accounting policies (Details)

Accounting policies (Details)	12 Months Ended
Accounting policies (Details)	Dec. 31, 2021
Capitalised development expenditure \| Minimum
Disclosure of intangible assets material to entity [abstract]
Amortisation period of intangible assets	4 years
Capitalised development expenditure \| Maximum
Disclosure of intangible assets material to entity [abstract]
Amortisation period of intangible assets	10 years
Rights of use \| Minimum
Disclosure of intangible assets material to entity [abstract]
Amortisation period of intangible assets	10 years
Rights of use \| Maximum
Disclosure of intangible assets material to entity [abstract]
Amortisation period of intangible assets	20 years
Computer software \| Minimum
Disclosure of intangible assets material to entity [abstract]
Amortisation period of intangible assets	2 years
Computer software \| Maximum
Disclosure of intangible assets material to entity [abstract]
Amortisation period of intangible assets	5 years
Properties for own use \| Minimum
Useful lives
Years of Estimated Useful Life	25 years
Properties for own use \| Maximum
Useful lives
Years of Estimated Useful Life	50 years
Plant and machinery \| Minimum
Useful lives
Years of Estimated Useful Life	8 years
Plant and machinery \| Maximum
Useful lives
Years of Estimated Useful Life	20 years
Tools \| Minimum
Useful lives
Years of Estimated Useful Life	12 years 6 months
Tools \| Maximum
Useful lives
Years of Estimated Useful Life	15 years
Furniture and fixtures \| Minimum
Useful lives
Years of Estimated Useful Life	10 years
Furniture and fixtures \| Maximum
Useful lives
Years of Estimated Useful Life	15 years
Computer hardware \| Minimum
Useful lives
Years of Estimated Useful Life	4 years
Computer hardware \| Maximum
Useful lives
Years of Estimated Useful Life	8 years
Transport equipment \| Minimum
Useful lives
Years of Estimated Useful Life	10 years
Transport equipment \| Maximum
Useful lives
Years of Estimated Useful Life	15 years

Segment reporting - Consolidate

Segment reporting - Consolidated income statements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of operating segments [line items]
Number of Segments \| segment	6
Profit (loss) [abstract]
Sales	$ 1,778,908	$ 1,144,434	$ 1,615,222
Raw materials and energy consumption for production	(1,184,896)	(835,486)	(1,214,397)
Other operating income	110,085	33,627	54,213
Staff costs	(280,917)	(214,782)	(285,029)
Other operating expense	(296,809)	(132,059)	(225,705)
Depreciation and amortization charges, operating allowances and write-downs	(97,328)	(108,189)	(120,194)
Impairment (loss) gain	137	(73,344)	(175,899)
Net (loss) gain due to changes in the value of assets	758	158	(1,574)
(Loss) gain on disposal of non-current assets	1,386	1,292	(2,223)
Other (loss) gain	62	(1)
Operating (loss) profit	31,386	(184,350)	(355,586)
Finance income	253	177	1,380
Finance costs	(149,189)	(66,968)	(63,225)
Financial derivative gain		3,168	2,729
Exchange differences	(2,386)	25,553	2,884
(Loss) profit before tax	(119,936)	(222,420)	(411,818)
Income tax benefit (expense)	4,562	(21,939)	41,541
(Loss) profit from continuing operations	(115,374)	(244,359)	(370,277)
(Loss) profit from discontinued operations		(5,399)	84,637
Total (Loss) for the year	(115,374)	(249,758)	(285,640)	[1]
Attributable to the Parent	(110,624)	(246,339)	(280,601)
Attributable to non-controlling interests	(4,750)	(3,419)	(5,039)
Operating segments \| North America Silicon
Profit (loss) [abstract]
Sales	524,808	425,277	551,500
Raw materials and energy consumption for production	(323,316)	(280,858)	(366,711)
Other operating income	5,385	2,916	10,418
Staff costs	(82,463)	(73,988)	(87,954)
Other operating expense	(43,070)	(34,315)	(60,105)
Depreciation and amortization charges, operating allowances and write-downs	(55,770)	(61,664)	(72,251)
Impairment (loss) gain		(35,685)	(174,013)
(Loss) gain on disposal of non-current assets	394	(869)	(1,601)
Operating (loss) profit	25,968	(59,186)	(200,717)
Finance income	258	679	529
Finance costs	(1,063)	(857)	(3,914)
Exchange differences	807	(485)	(407)
(Loss) profit before tax	25,970	(59,849)	(204,509)
Income tax benefit (expense)	(5,331)	14,213	8,520
(Loss) profit from continuing operations		(45,636)	(195,989)
Total (Loss) for the year	20,639	(45,636)	(195,989)
Attributable to the Parent	24,755	(42,603)	(190,866)
Attributable to non-controlling interests	(4,116)	(3,033)	(5,123)
Operating segments \| Europe Silicon
Profit (loss) [abstract]
Sales	665,337	467,728	593,907
Raw materials and energy consumption for production	(473,884)	(369,130)	(474,993)
Other operating income	65,752	25,049	39,001
Staff costs	(120,287)	(84,300)	(106,681)
Other operating expense	(128,755)	(51,812)	(83,917)
Depreciation and amortization charges, operating allowances and write-downs	(16,852)	(19,252)	(19,667)
Impairment (loss) gain	(441)	(17,941)	(1)
(Loss) gain on disposal of non-current assets	1,029	1,002	181
Other (loss) gain	(1)
Operating (loss) profit	(8,102)	(48,656)	(52,170)
Finance income	2,540	2,338	2,074
Finance costs	(7,162)	(10,325)	(5,626)
Exchange differences	(263)	(1,226)	1,161
(Loss) profit before tax	(12,987)	(57,869)	(54,561)
Income tax benefit (expense)	7,463	(14,446)	12,782
(Loss) profit from continuing operations		(72,315)	(41,779)
(Loss) profit from discontinued operations			3,280
Total (Loss) for the year	(5,524)	(72,315)	(38,499)
Attributable to the Parent	(5,509)	(71,243)	(38,499)
Attributable to non-controlling interests	(15)	(5)
Operating segments \| Europe Manganese
Profit (loss) [abstract]
Sales	476,287	240,142	564,060
Raw materials and energy consumption for production	(326,257)	(204,063)	(502,919)
Other operating income	34,142	9,199	12,828
Staff costs	(33,696)	(28,337)	(32,133)
Other operating expense	(105,290)	(33,884)	(64,851)
Depreciation and amortization charges, operating allowances and write-downs	(18,634)	(19,086)	(19,904)
Impairment (loss) gain	(376)	305	12
(Loss) gain on disposal of non-current assets		1,154
Other (loss) gain		4
Operating (loss) profit	26,176	(34,566)	(42,907)
Finance income	8,516	7,122	8,999
Finance costs	(25,544)	(22,267)	(19,722)
Exchange differences	2,160	(3,508)	2,812
(Loss) profit before tax	11,308	(53,219)	(50,818)
Income tax benefit (expense)	(3,674)	(19,797)	9,258
(Loss) profit from continuing operations		(73,016)	(41,560)
(Loss) profit from discontinued operations		(5,399)
Total (Loss) for the year	7,634	(78,415)	(41,560)
Attributable to the Parent	7,634	(79,482)	(41,560)
Operating segments \| South Africa Silicon
Profit (loss) [abstract]
Sales	117,195	80,572	136,292
Raw materials and energy consumption for production	(76,617)	(56,062)	(108,823)
Other operating income	763	131	1,323
Staff costs	(13,268)	(11,013)	(20,333)
Other operating expense	(13,256)	(14,098)	(19,457)
Depreciation and amortization charges, operating allowances and write-downs	(5,081)	(7,141)	(6,459)
Impairment (loss) gain	2,684	(8,677)
Net (loss) gain due to changes in the value of assets			(530)
Operating (loss) profit	12,420	(16,288)	(17,987)
Finance income	244	90	156
Finance costs	(5,693)	(3,796)	(4,507)
Exchange differences	135	(1,405)	(1,179)
(Loss) profit before tax	7,106	(21,399)	(23,517)
Income tax benefit (expense)	(692)	(1,049)	7,761
(Loss) profit from continuing operations		(22,448)	(15,756)
Total (Loss) for the year	6,414	(22,448)	(15,756)
Attributable to the Parent	6,821	(22,206)	(16,124)
Attributable to non-controlling interests	(407)	(242)	368
Operating segments \| Other segments
Profit (loss) [abstract]
Sales	43,568	25,334	43,147
Raw materials and energy consumption for production	(33,445)	(19,518)	(35,939)
Other operating income	49,901	24,587	27,144
Staff costs	(31,203)	(17,144)	(37,928)
Other operating expense	(51,960)	(26,679)	(32,572)
Depreciation and amortization charges, operating allowances and write-downs	(991)	(1,046)	(1,913)
Impairment (loss) gain	(1,730)	(11,346)	(1,897)
Net (loss) gain due to changes in the value of assets	758	158	(1,044)
(Loss) gain on disposal of non-current assets	(37)	5	(803)
Other (loss) gain	63	(5)
Operating (loss) profit	(25,076)	(25,654)	(41,805)
Finance income	31,303	11,220	17,690
Finance costs	(152,335)	(50,995)	(57,524)
Financial derivative gain		3,168	2,729
Exchange differences	(5,225)	32,177	497
(Loss) profit before tax	(151,333)	(30,084)	(78,413)
Income tax benefit (expense)	6,796	(860)	3,220
(Loss) profit from continuing operations		(30,944)	(75,193)
(Loss) profit from discontinued operations			81,357
Total (Loss) for the year	(144,537)	(30,944)	6,164
Attributable to the Parent	(144,325)	(30,805)	6,448
Attributable to non-controlling interests	(212)	(139)	(284)
Adjustments/Eliminations
Profit (loss) [abstract]
Sales	(48,287)	(94,619)	(273,684)
Raw materials and energy consumption for production	48,623	94,145	274,988
Other operating income	(45,858)	(28,255)	(36,501)
Other operating expense	45,522	28,729	35,197
Finance income	(42,608)	(21,272)	(28,068)
Finance costs	$ 42,608	$ 21,272	$ 28,068

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Segment reporting - Consolida_2

Segment reporting - Consolidated statements of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2018
Assets [abstract]
Goodwill	$ 29,702	$ 29,702	$ 29,702
Other intangible assets	100,642	20,756	51,267
Property, plant and equipment	554,914	620,034	740,906
Inventories	289,797	246,549
Trade and other receivables	385,613	247,792
Cash, restricted cash and cash equivalents	116,663	131,557	123,175	[1]	$ 216,647	[1]
Other	46,007	50,755
Total assets	1,523,338	1,347,145
Equity and liabilities [abstract]
Equity	320,031	365,719	602,297		$ 884,372
Provisions	198,583	163,783	130,943
Bank borrowings	98,967	107,607
Obligations under finance leases	18,358	22,536	$ 25,872
Debt instruments	440,297	357,508
Other financial liabilities	67,013	63,896
Trade and other payables	215,545	152,397
Other	164,544	113,699
Total equity and liabilities	1,523,338	1,347,145
Adjustments/Eliminations
Assets [abstract]
Trade and other receivables	(2,574,594)	(2,099,725)
Total assets	(2,574,594)	(2,099,725)
Equity and liabilities [abstract]
Trade and other payables	(2,618,022)	(2,141,417)
Other	43,428	41,692
Total equity and liabilities	(2,574,594)	(2,099,725)
North America Silicon \| Operating segments
Assets [abstract]
Goodwill	29,702	29,702
Other intangible assets	4,015	14,604
Property, plant and equipment	324,210	353,145
Inventories	56,318	63,765
Trade and other receivables	867,128	609,456
Cash, restricted cash and cash equivalents	61,032	48,127
Other	(4,420)	(37,007)
Total assets	1,337,985	1,081,792
Equity and liabilities [abstract]
Equity	438,915	412,729
Provisions	21,458	33,812
Obligations under finance leases	6,334	4,260
Other financial liabilities	4,033	3,140
Trade and other payables	813,676	615,690
Other	53,569	12,161
Total equity and liabilities	1,337,985	1,081,792
Europe Silicon \| Operating segments
Assets [abstract]
Other intangible assets	54,463	1,841
Property, plant and equipment	87,547	101,391
Inventories	121,813	90,434
Trade and other receivables	319,805	280,519
Cash, restricted cash and cash equivalents	10,660	13,684
Other	18,018	16,267
Total assets	612,306	504,136
Equity and liabilities [abstract]
Equity	150,320	169,850
Provisions	128,144	74,804
Bank borrowings	67,749	56,905
Trade and other payables	186,493	183,123
Other	79,600	19,453
Total equity and liabilities	612,306	504,135
Europe Manganese \| Operating segments
Assets [abstract]
Other intangible assets	40,318	1,790
Property, plant and equipment	69,283	88,883
Inventories	77,425	62,243
Trade and other receivables	487,731	413,115
Cash, restricted cash and cash equivalents	32,139	34,335
Other	3,810	14,546
Total assets	710,706	614,912
Equity and liabilities [abstract]
Equity	86,234	13,998
Provisions	42,428	45,609
Bank borrowings	29,972	23,216
Obligations under finance leases	11,457	17,403
Other financial liabilities	153	331
Trade and other payables	550,695	500,813
Other	(10,233)	13,543
Total equity and liabilities	710,706	614,913
South Africa Silicon \| Operating segments
Assets [abstract]
Other intangible assets	1,165	1,265
Property, plant and equipment	35,830	37,526
Inventories	21,008	20,375
Trade and other receivables	51,734	43,121
Cash, restricted cash and cash equivalents	6,787	2,777
Other	1,909	9,808
Total assets	118,433	114,872
Equity and liabilities [abstract]
Equity	21,048	17,856
Provisions	6,163	5,956
Obligations under finance leases	24	318
Trade and other payables	87,687	78,807
Other	3,511	11,935
Total equity and liabilities	118,433	114,872
Other segments \| Operating segments
Assets [abstract]
Other intangible assets	681	1,256
Property, plant and equipment	38,044	39,089
Inventories	13,233	9,732
Trade and other receivables	1,233,809	1,001,306
Cash, restricted cash and cash equivalents	6,045	32,634
Other	26,690	47,141
Total assets	1,318,502	1,131,158
Equity and liabilities [abstract]
Equity	(376,486)	(248,714)
Provisions	390	3,602
Bank borrowings	1,246	27,486
Obligations under finance leases	543	555
Debt instruments	440,297	357,508
Other financial liabilities	62,827	60,425
Trade and other payables	1,195,016	915,381
Other	(5,331)	14,915
Total equity and liabilities	$ 1,318,502	$ 1,131,158

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Segment reporting - Sales by pr

Segment reporting - Sales by product line (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of products and services [abstract]
Sales	$ 1,778,908	$ 1,144,434	$ 1,615,222
Silicon Metal Product Line
Disclosure of products and services [abstract]
Sales	637,695	463,217	539,872
Manganese Alloys Product Line
Disclosure of products and services [abstract]
Sales	469,138	267,469	447,311
Ferrosilicon Product Line
Disclosure of products and services [abstract]
Sales	337,833	176,447	275,368
Other Silicon Based Alloys Product Line
Disclosure of products and services [abstract]
Sales	161,750	126,817	181,736
Silica Fume Product Line
Disclosure of products and services [abstract]
Sales	32,409	25,888	33,540
Other Product Lines
Disclosure of products and services [abstract]
Sales	$ 140,083	$ 84,596	$ 137,395

Segment reporting - Major custo

Segment reporting - Major customers (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)customer
Disclosure of major customers [abstract]
Sales	$ 1,778,908	$ 1,144,434	$ 1,615,222
Number of customers representing 10% or more of sales \| customer			0
Top Ten Customers
Disclosure of major customers [abstract]
Sales	$ 870,039	$ 580,570	$ 643,689
Dow Silicones Corporation
Disclosure of major customers [abstract]
Percentage of Company's sales	12.20%	13.20%

Segment reporting - Capital Exp

Segment reporting - Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [line items]
Capital Expenditures	$ 33,409	$ 27,059	$ 34,040
North America Silicon
Disclosure of operating segments [line items]
Capital Expenditures	15,579	17,420	7,226
Europe Silicon
Disclosure of operating segments [line items]
Capital Expenditures	4,328	1,334	11,001
Europe Manganese
Disclosure of operating segments [line items]
Capital Expenditures	6,947	4,034	5,146
South Africa Silicon
Disclosure of operating segments [line items]
Capital Expenditures	3,611	2,308	3,492
Other segments
Disclosure of operating segments [line items]
Capital Expenditures	$ 2,944	$ 1,963	$ 7,175

Segment reporting - Non-current

Segment reporting - Non-current assets by Geographical Area (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of operating segments [line items]
Total non-current assets	$ 712,054	$ 689,907
USA
Disclosure of operating segments [line items]
Total non-current assets	230,356	227,539
Europe
Disclosure of operating segments [line items]
Total non-current assets	356,859	307,875
France
Disclosure of operating segments [line items]
Total non-current assets	138,842	90,543
Spain
Disclosure of operating segments [line items]
Total non-current assets	146,405	145,019
Other EU Countries
Disclosure of operating segments [line items]
Total non-current assets	71,612	72,313
Rest of World
Disclosure of operating segments [line items]
Total non-current assets	$ 124,839	$ 154,493

Goodwill - Changes in carrying

Goodwill - Changes in carrying amount and impairment testing (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 23, 2015
Reconciliation of changes in goodwill [abstract]
Goodwill at beginning of period	$ 29,702	$ 29,702
Impairment	0	0	$ (174,008)
Exchange differences	0	0
Goodwill at end of period	29,702	29,702	29,702
Globe Specialty Metals Inc
Reconciliation of changes in goodwill [abstract]
Goodwill at beginning of period	29,702	29,702
Impairment	0	0
Exchange differences	0	0
Goodwill at end of period	29,702	29,702	$ 29,702
Percentage of equity interests acquired				100.00%
Silicon Metals And Silicon Alloys United States Segment [Member] \| Globe Specialty Metals Inc
Reconciliation of changes in goodwill [abstract]
Goodwill at beginning of period	29,702
Goodwill at end of period	$ 29,702	$ 29,702

Goodwill - Key assumptions used

Goodwill - Key assumptions used in the determination of recoverable value (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019USD ($)
Silicon Metals And Silicon Alloys United States Segment [Member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Long-Term Growth Rate	0.023	0.020	2
Normalized Tax Rate	0.210	0.210	21
Silicon Metals And Silicon Alloys United States Segment [Member] \| Weighted average cost of capital
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Significant unobservable input, assets	0.132	0.103	11.1
Silicon Metals Canada Segment [Member]
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Long-Term Growth Rate			2
Normalized Tax Rate			26.6
Silicon Metals Canada Segment [Member] \| Weighted average cost of capital
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Significant unobservable input, assets			11.5

Other intangible assets (Detail

Other intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
Other intangible assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	$ 20,756	$ 51,267
Additions	131,836	35,640
Disposals	(51,791)	(68,713)
Exchange differences	(159)	2,562
Other intangible assets at end of the year	100,642	20,756	$ 51,267
Impairment charge related to intangible assets	1,153		211
Accumulated depreciation and amortisation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	(93,042)	(82,283)
Additions	(7,241)	(7,183)
Disposals	563
Exchange differences	3,580	(3,576)
Other intangible assets at end of the year	(96,140)	(93,042)	(82,283)
Accumulated impairment
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	(20,082)	(18,964)
Additions	(1,153)
Disposals	3,072
Exchange differences	1,236	(1,118)
Other intangible assets at end of the year	(16,927)	(20,082)	(18,964)
Capitalised development expenditure \| Gross carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	54,874	50,326
Additions	1,040	262
Exchange differences	(4,216)	4,286
Other intangible assets at end of the year	51,698	54,874	50,326
Power Supply Agreements \| Gross carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	37,836	37,836
Other intangible assets at end of the year	37,836	37,836	37,836
Rights of use
Reconciliation of changes in intangible assets other than goodwill [abstract]
Additions	44,138
Disposals		(34,209)
Rights of use \| Gross carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	17,049	16,533
Additions	10
Disposals	(3,558)
Exchange differences	(132)	516
Other intangible assets at end of the year	13,369	17,049	16,533
Computer software \| Gross carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	5,249	5,149
Disposals	(72)
Exchange differences	(87)	100
Other intangible assets at end of the year	5,090	5,249	5,149
Other intangible assets
Reconciliation of changes in intangible assets other than goodwill [abstract]
Net reduction to other intangible assets		32,517
Other intangible assets \| Gross carrying amount
Reconciliation of changes in intangible assets other than goodwill [abstract]
Other intangible assets at beginning of the year	18,872	42,670
Additions	139,180	42,561
Disposals	(51,796)	(68,713)
Exchange differences	(540)	2,354
Other intangible assets at end of the year	105,716	$ 18,872	$ 42,670
Other intangible assets \| MAURITANIA
Reconciliation of changes in intangible assets other than goodwill [abstract]
Impairment charge related to intangible assets	$ 1,153

Property, plant and equipment -

Property, plant and equipment - Detail net of accumulated depreciation and impairment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	$ 620,034	$ 740,906
Additions	(43,907)	128,279
Disposals and other	(3,900)	(3,430)
Transfers from/(to) other accounts	(1)	(6,937)
Exchange differences	(17,312)	17,774
Property, plant and equipment at end of the year	554,914	620,034
Gross carrying amount \| Land and buildings
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	208,025	196,586
Additions	166	(1,391)
Disposals and other	(1,131)	(780)
Transfers from/(to) other accounts	65	904
Exchange differences	(9,911)	9,924
Property, plant and equipment at end of the year	197,214	208,025
Gross carrying amount \| Plant and Machinery
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	1,331,585	1,273,837
Additions	6,054	(11,095)
Disposals and other	(106,295)	(17,664)
Transfers from/(to) other accounts	21,883	15,830
Exchange differences	(50,603)	48,487
Property, plant and equipment at end of the year	1,202,624	1,331,585
Gross carrying amount \| Fixtures and fittings [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	8,422	8,819
Additions	199	(302)
Disposals and other	(618)	(612)
Transfers from/(to) other accounts	112
Exchange differences	(636)	(87)
Property, plant and equipment at end of the year	7,479	8,422
Gross carrying amount \| Construction in progress [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	124,029	106,651
Additions	33,409	(27,059)
Disposals and other	(9,374)	(1,715)
Transfers from/(to) other accounts	(23,621)	(16,861)
Exchange differences	(10,481)	8,895
Property, plant and equipment at end of the year	113,962	124,029
Gross carrying amount \| Mineral Reserves [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	59,325	59,502
Exchange differences	(306)	(177)
Property, plant and equipment at end of the year	59,019	59,325
Gross carrying amount \| Other property, plant and equipment [member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	33,188	34,463
Additions		(30)
Disposals and other	(55)
Transfers from/(to) other accounts	(20)
Exchange differences	476	(1,305)
Property, plant and equipment at end of the year	33,589	33,188
Gross carrying amount \| Leased Land And Machinery [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	24,446	21,333
Additions	4,113	(1,405)
Transfers from/(to) other accounts	730	127
Exchange differences	(1,527)	1,581
Property, plant and equipment at end of the year	27,762	24,446
Gross carrying amount \| Leased Land And Buildings [Member]
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	17,588	13,298
Additions	576	(3,374)
Exchange differences	(1,008)	916
Property, plant and equipment at end of the year	17,156	17,588
Accumulated depreciation and amortisation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	(995,507)	(865,937)
Additions	(90,087)	101,006
Disposals and other	73,601	17,337
Transfers from/(to) other accounts	867
Exchange differences	49,048	(45,901)
Property, plant and equipment at end of the year	(962,078)	(995,507)
Accumulated impairment
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of the year	(191,066)	(107,646)
Additions	1,663	71,929
Disposals and other	39,972	4
Transfers from/(to) other accounts	(17)	(6,937)
Exchange differences	7,636	(4,559)
Property, plant and equipment at end of the year	$ (141,811)	$ (191,066)

Property, plant and equipment_2

Property, plant and equipment - Impairment, disposals and pledged as security (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of impairment loss and reversal of impairment loss [abstract]
Property, plant and equipment	$ 554,914	$ 620,034	$ 740,906
Impairment charge related to property, plant and equipment		71,929
Transfers from/(to) other accounts	(1)	(6,937)
Ferrosolar OPCO
Disclosure of impairment loss and reversal of impairment loss [abstract]
Property, plant and equipment	0
Write off property, plant and equipment		5,743
Ganzi Ferroatlantica Silicon Industry Company Ltd
Disclosure of impairment loss and reversal of impairment loss [abstract]
Net reduction of property, plant and equipment			48,775
Ferroatlantica S.A.U. and Ultracore Polska Zoo
Disclosure of impairment loss and reversal of impairment loss [abstract]
Business disposals			$ 94,401
Niagara Falls
Disclosure of impairment loss and reversal of impairment loss [abstract]
Property, plant and equipment	0	0
Impairment charge related to property, plant and equipment		34,270
Write off property, plant and equipment		34,229
South Africa
Disclosure of impairment loss and reversal of impairment loss [abstract]
Fair value of facility	7,130
Carrying value of facility before impairment analysis	4,449
Impairment charge related to property, plant and equipment		8,677
Reversed impairment	2,681
Spain
Disclosure of impairment loss and reversal of impairment loss [abstract]
Impairment charge related to property, plant and equipment		11,041
France
Disclosure of impairment loss and reversal of impairment loss [abstract]
Fair value of facility	7,285
Carrying value of facility before impairment analysis	7,726
Impairment charge related to property, plant and equipment	441	$ 17,941
MAURITANIA
Disclosure of impairment loss and reversal of impairment loss [abstract]
Impairment charge related to property, plant and equipment	$ 573

Property, plant and equipment_3

Property, plant and equipment - Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of joint ventures [abstract]
Capital expenditure commitments	$ 3,834	$ 2,605

Financial assets and other re_3

Financial assets and other receivables - Financial assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Total financial assets	$ 453,526	$ 349,232
Other financial assets [Member]
Disclosure of financial assets [line items]
Total financial assets	4,195	6,065
Receivables from related parties
Disclosure of financial assets [line items]
Total financial assets	4,540	5,530
Trade receivables
Disclosure of financial assets [line items]
Total financial assets	321,929	202,233
Other receivables
Disclosure of financial assets [line items]
Total financial assets	6,199	3,847
Cash and cash equivalents.
Disclosure of financial assets [line items]
Total financial assets	114,391	102,714
Restricted cash
Disclosure of financial assets [line items]
Total financial assets	2,272	28,843
Amortised cost
Disclosure of financial assets [line items]
Total financial assets	452,679	346,623
Amortised cost \| Other financial assets [Member]
Disclosure of financial assets [line items]
Total financial assets	3,348	3,456
Amortised cost \| Receivables from related parties
Disclosure of financial assets [line items]
Total financial assets	4,540	5,530
Amortised cost \| Trade receivables
Disclosure of financial assets [line items]
Total financial assets	321,929	202,233
Amortised cost \| Other receivables
Disclosure of financial assets [line items]
Total financial assets	6,199	3,847
Amortised cost \| Cash and cash equivalents.
Disclosure of financial assets [line items]
Total financial assets	114,391	102,714
Amortised cost \| Restricted cash
Disclosure of financial assets [line items]
Total financial assets	2,272	28,843
Fair value through profit or loss - mandatorily measured
Disclosure of financial assets [line items]
Total financial assets	847	2,609
Fair value through profit or loss - mandatorily measured \| Other financial assets [Member]
Disclosure of financial assets [line items]
Total financial assets	$ 847	$ 2,609

Financial assets and other re_4

Financial assets and other receivables - Cash and cash equivalents and Restricted cash (Details) € in Thousands, $ in Thousands	Dec. 31, 2021USD ($)	Oct. 30, 2021USD ($)	Oct. 30, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	[1]	Dec. 31, 2018USD ($)	[1]
Disclosure of financial assets [line items]
Cash and cash equivalents	$ 114,391			$ 102,714
Current - Non Current restricted cash presented as Cash	2,272			28,843
Total	116,663			131,557	$ 123,175		$ 216,647
Restricted cash	2,272
Amount of funds released out of escrow deposits		$ 3,494	€ 3,000
Norway
Disclosure of financial assets [line items]
Current - Non Current restricted cash presented as Cash	1,497
Dow Corning Corporation [Member]
Disclosure of financial assets [line items]
Current - Non Current restricted cash presented as Cash	51,956
Escrow: Hydro sale
Disclosure of financial assets [line items]
Current - Non Current restricted cash presented as Cash	2,272			6,136
Restricted cash	$ 2,272			6,136
ABL
Disclosure of financial assets [line items]
Current - Non Current restricted cash presented as Cash				22,500
Others
Disclosure of financial assets [line items]
Current - Non Current restricted cash presented as Cash				$ 207

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Financial assets and other re_5

Financial assets and other receivables - Other financial assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets [line items]
Other non-current financial assets held with third parties	$ 4,091	$ 5,057
Other current financial assets held with third parties	104	1,008
Other total financial assets held with third parties	4,195	6,065
Amortised cost \| Other financial assets [Member]
Disclosure of financial assets [line items]
Other non-current financial assets held with third parties	3,348	3,456
Other total financial assets held with third parties	3,348	3,456
Amortised cost \| Other financial assets [Member] \| FerroPem SAS
Disclosure of financial assets [line items]
Deposits given to the French government	$ 2,718	2,679
Period for return of deposits	20 years
Fair value through other comprehensive income - designated \| Equity securities
Disclosure of financial assets [line items]
Other non-current financial assets held with third parties	$ 743	1,601
Other current financial assets held with third parties	104	1,008
Other total financial assets held with third parties	$ 847	$ 2,609

Financial assets and other re_6

Financial assets and other receivables - Trade and other receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Trade and other current receivables [abstract]
Trade receivables	$ 322,935	$ 203,930
Less ??? allowance for doubtful debts	(1,006)	(1,697)
Trade receivables, net	321,929	202,233
Tax receivables	25,244	13,166
Government grant receivables	27,701	23,016
Other receivables	6,199	3,847
Trade and other receivables	$ 381,073	$ 242,262

Financial assets and other re_7

Financial assets and other receivables - Changes in impairment losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Financial assets at beginning of period	$ (349,232)
Financial assets at end of period	(453,526)	$ (349,232)
Accumulated impairment
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Financial assets at beginning of period	1,697	4,543
Impairment losses recognized	(580)	504
Amounts written off as uncollectible		(3,666)
Exchange differences	(111)	315
Financial assets at end of period	$ 1,006	$ 1,697

Financial assets and other re_8

Financial assets and other receivables - Factoring of trade receivables (Details) € in Thousands, $ in Thousands	Oct. 02, 2020USD ($)	Oct. 02, 2020EUR (€)	Feb. 06, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of financial assets [line items]
Repaid				$ 671,467	$ 235,296	$ 329,501	[1]
Borrowings				98,967	107,607
Accounts receivables				385,613	247,792
Finance costs				149,189	66,968	$ 63,225
Securitizations
Disclosure of financial assets [line items]
Upfront Cash Consideration			$ 150,000
Senior loan commitments			$ 2,808
Factoring of receivables
Disclosure of financial assets [line items]
Upfront Cash Consideration	$ 48,800			659,083	169,105
Cash consideration advanced for the financing facility \| €		€ 60,000
Percentage of accounts receivable	10.00%	10.00%
Percentage of annual agent fee	0.15%	0.15%
Percentage of financing commission	1.00%	1.00%
Repaid				640,168	95,800
Borrowings				93,090	74,844
Bad debt losses \| €		€ 5,000
Accounts receivables				115,684	89,154
Finance costs				$ 3,202	$ 916

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Financial assets and other re_9

Financial assets and other receivables - Government Grants (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Other financial assets
Income from government grants	$ 31,588	$ 30,420

Inventories - Schedule (Details

Inventories - Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventories.
Finished goods	$ 118,080	$ 100,711
Raw materials in progress and industrial supplies	110,965	99,259
Other inventories	42,815	46,274
Advances to suppliers	17,937	305
Total inventories	$ 289,797	$ 246,549

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Write-downs (reversals of write-downs) of inventories [abstract]
Inventory write-down	$ 1,095	$ 1,939
Purchase Commitments And Collateral [Abstract]
Inventories pledged as collateral	$ 180,575

Other assets - Non-current and

Other assets - Non-current and current assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other assets abstract
Guarantees and deposits given - Non-Current	$ 18,020	$ 10,290
Guarantees and deposits given - Current	299	253
Guarantees and deposits given - Total	18,319	10,543
Prepayments and accrued income - Non-Current	27
Prepayments and accrued income - Current	3,213	10,656
Prepayments and accrued income - Total	3,240	10,656
Other assets - Non-Current	687	1,614
Other assets - Current	4,896	9,805
Other assets - Total	5,583	11,419
Non-Current	18,734	11,904
Current	8,408	20,714
Total	$ 27,142	$ 32,618

Equity - Share capital (Details

Equity - Share capital (Details) € / shares in Units, $ / shares in Units, € in Thousands	Oct. 06, 2021USD ($)$ / sharesshares	Jul. 29, 2021USD ($)$ / sharesshares	Oct. 13, 2015EUR (€)	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Jun. 22, 2016$ / shares	Jun. 21, 2016$ / shares	Dec. 23, 2015$ / sharesshares	Dec. 23, 2015€ / sharesshares	Oct. 14, 2015$ / shares	Oct. 13, 2015USD ($)$ / sharesshares	Feb. 05, 2015$ / sharesshares
Disclosure of classes of share capital [line items]
Issue of equity			€ 50,000	$ 86,398,000
Par value per share \| $ / shares				$ 0.01	$ 0.01			$ 0.01	$ 7.50
Par value per consolidated share \| $ / shares													$ 1
Share issuance costs \| $				$ 43,755,000
Proceeds from equity issuance \| $				$ 40,000,000
Number of shares outstanding				187,313,460
Number of shares outstanding, including treasury shares				188,882,316	170,863,773
Treasury shares				1,568,854
Issued capital \| $				$ 1,962,000	$ 1,784,000
Number of ordinary shares issued					0	0
Equity \| $				$ 320,031,000	$ 365,719,000	$ 602,297,000	$ 884,372,000
Equity Distribution Agreement With B. Riley Securities, Inc. and Cantor Fitzgerald & Co
Disclosure of classes of share capital [line items]
Shares issued (in shares)	186,053
Proceeds from equity issuance \| $	$ 1,400,000
Equity Distribution Agreement With B. Riley Securities, Inc. and Cantor Fitzgerald & Co \| Maximum
Disclosure of classes of share capital [line items]
Issue of equity \| $	$ 100,000,000
Globe Specialty Metals Inc
Disclosure of classes of share capital [line items]
Par value per share \| $ / shares										$ 0.0001
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Shares issued (in shares)										1	1		14	1
Par value per share \| $ / shares										$ 7.50		$ 7.50	$ 1	$ 1
Shares consolidated													15
New shares issued after consolidation													2
Equity \| $													$ 15
Ordinary shares [member] \| Equity Distribution Agreement With B. Riley Securities, Inc. and Cantor Fitzgerald & Co
Disclosure of classes of share capital [line items]
Par value per share \| $ / shares	$ 0.01
Class A
Disclosure of classes of share capital [line items]
Shares issued (in shares)										98,078,161	98,078,161
Par value per share \| $ / shares										$ 7.50
Preference shares [member]
Disclosure of classes of share capital [line items]
Shares issued (in shares)													50,000
Grupo Villar Mir SAU
Disclosure of classes of share capital [line items]
The number of beneficially shares owned				91,125,519
Outstanding shares owned by main shareholders (as a percentage)				48.60%
Grupo Villar Mir SAU \| Grupo FerroAtlantica S.A.U.
Disclosure of classes of share capital [line items]
Par value per share \| € / shares											€ 1,000
Rubric Capital Management LP [Member]
Disclosure of classes of share capital [line items]
Issue of equity \| $		$ 40,000,000
Share issuance costs \| $		$ 6,647,000
The number of beneficially shares owned				13,648,711
Outstanding shares owned by main shareholders (as a percentage)				7.30%
Rubric Capital Management LP [Member] \| Ordinary shares [member]
Disclosure of classes of share capital [line items]
Shares issued (in shares)		8,918,618
Issue of equity \| $		$ 40,000,000
Par value per share \| $ / shares		$ 0.01
Number of shares issued as equity work fee		1,900,000
Number of shares issued to bondholders related to financing transactions		7,013,872
Issue of equity work fee and bondholder equity stake \| $		$ 51,522,000
The Goldman Sachs Group, Inc [Member]
Disclosure of classes of share capital [line items]
The number of beneficially shares owned				9,806,757
Outstanding shares owned by main shareholders (as a percentage)				5.20%

Equity - Valuation adjustments

Equity - Valuation adjustments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Equity [abstract]
Actuarial gains and losses	$ 5,525	$ 4,833
Hedging instruments and other		922
Valuation adjustments	$ 5,525	$ 5,755

Equity - Capital Raising (Detai

Equity - Capital Raising (Details) € in Thousands, $ in Thousands	Mar. 27, 2021USD ($)	Oct. 13, 2015EUR (€)	Dec. 31, 2021USD ($)
Events after the reporting period
Issue of equity		€ 50,000	$ 86,398
Super Senior Notes
Events after the reporting period
Principal amount			$ 60,000
Agreement in Principle on the Terms of Financing Proposal
Events after the reporting period
Issue of equity	$ 40,000
Agreement in Principle on the Terms of Financing Proposal \| Super Senior Notes
Events after the reporting period
Principal amount	$ 60,000

Equity - Dividends (Details)

Equity - Dividends (Details) - $ / shares	12 Months Ended
Equity - Dividends (Details) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Equity [abstract]
Dividends paid, per share	$ 0	$ 0

Equity - Changes in non-control

Equity - Changes in non-controlling interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity at beginning of period	$ 365,719	$ 602,297	$ 884,372
Loss for the year	(4,750)	(3,419)	(5,039)
Dividends paid to joint venture partner	(5,880)
Equity at end of period	320,031	365,719	602,297
Noncontrolling interests
Equity at beginning of period	114,504	118,077	116,145
Loss for the year	(4,750)	(3,419)
Dividends paid to joint venture partner	(5,880)
Translation differences	166	(154)
Other	2,013
Equity at end of period	$ 106,053	$ 114,504	$ 118,077

Equity - Non-controlling intere

Equity - Non-controlling interests financial information (Details)	Nov. 05, 2009USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021CAD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Non-current assets		$ 719,064,000		$ 689,907,000
Current assets		804,274,000		657,238,000
Non-current liabilities		549,681,000		548,640,000
Current liabilities		653,626,000		432,786,000
CONSOLIDATED INCOME STATEMENTS
Sales		1,778,908,000		1,144,434,000	$ 1,615,222,000
Operating profit		31,386,000		(184,350,000)	(355,586,000)
Profit before taxes		(119,936,000)		(222,420,000)	(411,818,000)
Profit (loss)		(115,374,000)		(249,758,000)	(285,640,000)	[1]
CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash flows from operating activities		(1,341,000)		154,268,000	(31,194,000)	[1]
Cash flows from investing activities		(23,848,000)		(31,940,000)	165,910,000	[1]
Cash flows from financing activities		10,452,000		(113,333,000)	(224,005,000)	[1]
Exchange differences on cash and cash equivalents in foreign currencies		(157,000)		(613,000)	(4,183,000)	[1]
Beginning balance of cash and cash equivalents		102,714,000
Ending balance of cash and cash equivalents		114,391,000		102,714,000
Non-controlling interests		$ 106,053,000		114,504,000
Quebec Silicon General Partner
CONSOLIDATED STATEMENTS OF CASH FLOWS
Proportion of ownership interest in subsidiary		51.00%	51.00%
WVA Manufacturing, LLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
Additional cost per operating agreement	$ 100
WVA Manufacturing, LLC \| Globe Specialty Metals Inc
CONSOLIDATED STATEMENTS OF CASH FLOWS
Non-controlling interests		$ 61,912,000		70,270,000
Production output sold (as a percentage)	51.00%
WVA Manufacturing, LLC \| Globe Specialty Metals Inc \| Noncontrolling interests
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Non-current assets		76,865,000		80,887,000	80,923,000
Current assets		66,336,000		58,404,000	56,839,000
Non-current liabilities		14,677,000		14,677,000	14,677,000
Current liabilities		32,612,000		23,208,000	27,579,000
CONSOLIDATED INCOME STATEMENTS
Sales		165,660,000		156,995,000	167,503,000
Operating profit		6,696,000		5,900,000	6,688,000
Profit before taxes		6,507,000		5,900,000	6,423,000
Profit (loss)		3,318,000		3,008,000	3,276,000
CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash flows from operating activities		11,981,000		28,683,000	2,287,000
Cash flows from investing activities		(3,893,000)		(7,977,000)	(2,256,000)
Beginning balance of cash and cash equivalents		27,272,000		6,566,000	6,535,000
Ending balance of cash and cash equivalents		$ 35,360,000		27,272,000	6,566,000
WVA Manufacturing, LLC \| Dow Corning Corporation [Member]
CONSOLIDATED STATEMENTS OF CASH FLOWS
Production output sold (as a percentage)	49.00%
WVA Manufacturing, LLC \| Dow Corning Corporation [Member] \| Globe Specialty Metals Inc
CONSOLIDATED STATEMENTS OF CASH FLOWS
Membership interest sold (as a percentage)	49.00%	49.00%	49.00%
Quebec Silicon Limited Partnership [Member]
CONSOLIDATED STATEMENTS OF CASH FLOWS
Additional cost per operating agreement			$ 31
Quebec Silicon Limited Partnership [Member] \| Globe Specialty Metals Inc
CONSOLIDATED STATEMENTS OF CASH FLOWS
Non-controlling interests		$ 37,682,000		44,808,000
Production output sold (as a percentage)		51.00%	51.00%
Quebec Silicon Limited Partnership [Member] \| Globe Specialty Metals Inc \| Noncontrolling interests
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Non-current assets		$ 63,088,000		67,806,000	63,639,000
Current assets		46,186,000		37,095,000	30,931,000
Non-current liabilities		19,005,000		18,186,000	19,944,000
Current liabilities		14,671,000		16,320,000	7,277,000
CONSOLIDATED INCOME STATEMENTS
Sales		89,446,000		70,637,000	78,414,000
Operating profit		2,093,000		3,113,000	252,000
Profit before taxes		1,237,000		2,898,000	(36,000)
Profit (loss)		613,000		1,666,000	(70,000)
CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash flows from operating activities		8,997,000		15,387,000	3,720,000
Cash flows from investing activities		(4,956,000)		(5,227,000)	(3,544,000)
Cash flows from financing activities					227,000
Exchange differences on cash and cash equivalents in foreign currencies		31,000		45,000	149,000
Beginning balance of cash and cash equivalents		12,524,000		2,319,000	1,767,000
Ending balance of cash and cash equivalents		$ 16,596,000		$ 12,524,000	$ 2,319,000
Quebec Silicon Limited Partnership [Member] \| Dow Corning Corporation [Member]
CONSOLIDATED STATEMENTS OF CASH FLOWS
Production output sold (as a percentage)		49.00%	49.00%

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Earnings (loss) per ordinary _3

Earnings (loss) per ordinary share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share Continued And Discontinued Operations [Abstract]
(Loss) for the year from continuing operations	$ (115,374)	$ (244,359)	$ (370,277)
(Loss) profit for the year from discontinued operations		(5,399)	84,637
Total (Loss) for the year	(115,374)	(249,758)	(285,640)	[1]
Attributable to the Parent	(110,624)	(246,339)	(280,601)
Attributable to non-controlling interests	4,750	3,419	5,039
Numerator:
Attributable to the Parent	(110,624)	(246,339)	(280,601)
(Loss) for the year from continuing operations attributable to parent	$ (110,624)	(240,940)	(365,238)
(Loss) profit for the year from discontinued operations		$ (5,399)	$ 84,637
Denominator:
Weighted average basic shares outstanding	176,508,144	169,269,281	169,152,905
Weighted average dilutive shares outstanding	176,508,144	169,269,281	169,152,905
Basic (loss) earnings per ordinary share (US$)	$ (0.63)	$ (1.46)	$ (1.66)
Diluted (loss) earnings per ordinary share (US$)	(0.63)	(1.46)	(1.66)
Basic (loss) earnings per ordinary share - continuing operations (US$)	(0.63)	(1.42)	(2.16)
Diluted (loss) earnings per ordinary share - continuing operations (US$)	$ (0.63)	(1.42)	(2.16)
Basic (loss) earnings per ordinary share - discontinued operations (US$)		(0.03)	0.50
Diluted (loss) earnings per ordinary share - discontinued operations (US$)		$ (0.03)	$ 0.50

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Earnings (loss) per ordinary _4

Earnings (loss) per ordinary share - Antidilutive (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings per share [abstract]
Potential ordinary shares excluded from calculation of diluted (loss) earnings per share because their effect would be anti-dilutive	4,359,436	3,411,974	445,008

Provisions (Details)

Provisions (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other provisions [line items]
Non-current provisions	$ 60,958	$ 108,487
Current provisions	137,625	55,296
Provisions	198,583	163,783	$ 130,943
Provisions For Pensions [Member]
Disclosure of other provisions [line items]
Non-current provisions	41,238	56,395
Current provisions	180	191
Provisions	41,418	56,586	57,729
Environment provision [member]
Disclosure of other provisions [line items]
Non-current provisions	2,562	2,910
Current provisions	1,133	1,256
Provisions	3,695	4,166	4,108
Provisions for litigation [member]
Disclosure of other provisions [line items]
Current provisions	1,952	1,355
Provisions	1,952	1,355	3,905
Provisions for third-party liability
Disclosure of other provisions [line items]
Non-current provisions	8,905	10,759
Provisions	8,905	10,759	9,263
Provisions for C02 emissions allowances [Member]
Disclosure of other provisions [line items]
Non-current provisions	3,033
Current provisions	107,213	40,161
Provisions	110,246	40,161	34,938
Restructuring provision [member]
Disclosure of other provisions [line items]
Current provisions	22,350	2
Provisions	22,350	2	2
Restructuring provision [member] \| France
Disclosure of other provisions [line items]
Provisions	21,717
Restructuring provision [member] \| Spain
Disclosure of other provisions [line items]
Provisions	633
Other provisions [member]
Disclosure of other provisions [line items]
Non-current provisions	5,220	38,423
Current provisions	4,797	12,331
Provisions	$ 10,017	$ 50,754	$ 21,002

Provisions - Changes - (Details

Provisions - Changes - (Details) - USD ($) $ in Thousands	12 Months Ended
Provisions - Changes - (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	$ 163,783	$ 130,943
Changes for the year	137,348	75,048
Provisions reversed with a credit to income	(18,857)	(3,815)
Amounts used	(38,903)	(42,484)
Provision against equity	(7,928)	(2,692)
Transfers from/(to) other accounts	(28,426)
Exchange differences and others	(8,434)	6,783
Balance at end of period	198,583	163,783
Provisions For Pensions [Member]
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	56,586	57,729
Changes for the year	5,990	5,340
Provisions reversed with a credit to income	(1,419)	(1,843)
Amounts used	(9,911)	(3,514)
Provision against equity	(6,847)	(3,260)
Exchange differences and others	(2,981)	2,134
Balance at end of period	41,418	56,586
Environment provision [member]
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	4,166	4,108
Changes for the year	28	117
Provisions reversed with a credit to income	(189)
Amounts used	(1)	(26)
Transfers from/(to) other accounts	(33)
Exchange differences and others	(276)	(33)
Balance at end of period	3,695	4,166
Provisions for litigation [member]
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	1,355	3,905
Changes for the year	934	184
Amounts used	(233)	(2,886)
Exchange differences and others	(104)	152
Balance at end of period	1,952	1,355
Provisions for third-party liability
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	10,759	9,263
Changes for the year	588	268
Amounts used	(535)	(198)
Provision against equity	(1,081)	568
Exchange differences and others	(826)	858
Balance at end of period	8,905	10,759
Provisions for C02 emissions allowances [Member]
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	40,161	34,938
Changes for the year	97,982	38,249
Provisions reversed with a credit to income	(7,830)
Amounts used	(18,420)	(35,860)
Exchange differences and others	(1,647)	2,834
Balance at end of period	110,246	40,161
Provision for restructuring cost
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	2	2
Changes for the year	31,838
Amounts used	(9,534)
Transfers from/(to) other accounts	44
Balance at end of period	22,350	2
Other provisions [member]
Reconciliation of changes in other provisions [abstract]
Balance at beginning of period	50,754	21,002
Changes for the year	(12)	30,890
Provisions reversed with a credit to income	(9,419)	(1,972)
Amounts used	(269)
Transfers from/(to) other accounts	(28,437)
Exchange differences and others	(2,600)	838
Balance at end of period	$ 10,017	$ 50,754

Provisions - Employee obligatio

Provisions - Employee obligations - France - (Details) - France - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in net defined benefit liability (asset) [abstract]
Percentage change in cost of provision	1.00%	1.00%
Change in obligation	$ 3,288	$ 4,953
Not later than one year
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	1,016
Later than one year and not later than two years
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	1,281
Later than two years and not later than three years
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	2,078
Later than three years and not later than four years
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	1,563
Later than four years and not later than five years
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	1,488
Later than five years and not later than ten years
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	8,458
FerroPem SAS \| Present value of defined benefit obligation [member]
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	34,496	32,795
Current service cost	1,082	1,580
Borrowing costs	212	242
Actuarial differences	(3,003)	(2,170)
Benefits paid	(995)	(1,037)
Exchange differences	(2,412)	3,086
Others	(3,430)
Obligations at end of year	$ 25,950	$ 34,496

Provisions - Employee obligat_2

Provisions - Employee obligations - South Africa - (Details) - South Africa - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in net defined benefit liability (asset) [abstract]
Percentage change in cost of medical aid	1.00%	1.00%
Change in provision due to reasonably possible change in the cost of medical aid	$ 481	$ 378
Disclosure of fair value of plan assets [abstract]
Cash	2.85%	1.84%
Equity	47.21%	41.70%
Fixed Income Securities	17.32%	18.53%
Property	2.79%	1.68%
International	28.42%	32.02%
Others	1.41%	4.23%
Total	100.00%	100.00%
Present value of defined benefit obligation [member]
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	$ 3,461	$ 4,601
Current service cost	32	47
Borrowing costs	390	435
Actuarial differences	526	(1,238)
Benefits paid	(232)	(278)
Exchange differences	(398)	(106)
Obligations at end of year	3,779	3,461
Plan assets [member]
Ifrs Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	2,204	2,126
Interest income on assets	172	200
Benefits paid	(775)
Actuarial differences	223	(77)
Other	(118)	(45)
Fair value of plan assets at the end of the year	1,706	2,204
Actual return on assets	$ 395	$ 122

Provisions - Employee obligat_3

Provisions - Employee obligations - Venezuela - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Venezuela
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Salary increase	500.00%	500.00%
Discount rate	536.00%	536.00%
Expected inflation rate	550.00%	550.00%
Venezuela \| Minimum
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Actuarial assumption of retirement age	63 years	65 years
Venezuela \| Maximum
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Actuarial assumption of retirement age	64 years
France
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Discount rate	0.75%	0.75%
Expected inflation rate	1.60%	1.60%
Actuarial assumption of retirement age	65 years	65 years
France \| Minimum
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Salary increase	1.60%	1.60%
France \| Maximum
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Salary increase	6.10%	6.10%
South Africa
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Actuarial assumption of retirement age	63 years	63 years
South Africa \| Minimum
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Salary increase		5.80%
Discount rate	10.60%	9.80%
Expected inflation rate	5.80%	4.80%
South Africa \| Maximum
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Salary increase		9.10%
Discount rate	11.60%	13.20%
Expected inflation rate	7.10%	7.60%
FerroAtlantica De Venezuela SA \| Venezuela
Disclosure of defined benefit plans [line items]
Years of service	15 years
Percentage of basic salary guaranteed by IVSS	80.00%
Present value of defined benefit obligation [member] \| South Africa
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	$ 3,461	$ 4,601
Current service cost	32	47
Borrowing costs	390	435
Actuarial differences	(526)	1,238
Benefits paid	232	278
Exchange differences	(398)	(106)
Obligations at end of year	3,779	3,461
Present value of defined benefit obligation [member] \| FerroAtlantica De Venezuela SA \| Venezuela
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	22	2,577
Current service cost	102	26
Borrowing costs	115	596
Benefits paid	(2)	(2)
Exchange differences	(47)	(956)
Other		(2,220)
Obligations at end of year	$ 190	$ 22

Provisions - Employee obligat_4

Provisions - Employee obligations - North America - Provisions- (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)plan	Dec. 31, 2020USD ($)
Actuarial assumption of medical cost trend rates [member]
Estimated Future Benefit Payments [Abstract]
Health care cost trend rate	5.10%
Post Retirement Plans
Estimated Future Benefit Payments [Abstract]
Percentage of reasonably possible increase in actuarial assumption	1.00%	1.00%
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption	$ 1,735	$ 2,085
Percentage of reasonably possible decrease in actuarial assumption	1.00%
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption	$ (1,327)	(1,567)
North America
Reconciliation Of Benefit Obligation Plan Assets And Funded Status [Abstract]
Benefit obligation	33,918	76,956
Fair value of plan assets	(22,431)	(58,348)
Provision for pensions	11,487	18,608
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Discretionary contributions to the defined benefit pension and postretirement plans	861
North America \| Pension Plans
Reconciliation Of Benefit Obligation Plan Assets And Funded Status [Abstract]
Benefit obligation	25,349	67,324
North America \| Post Retirement Plans
Reconciliation Of Benefit Obligation Plan Assets And Funded Status [Abstract]
Benefit obligation	8,569	9,632
USA \| Pension Plans
Reconciliation Of Benefit Obligation Plan Assets And Funded Status [Abstract]
Benefit obligation		39,214
Fair value of plan assets	(14)	(36,011)
Provision for pensions	(14)	$ 3,203
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Discount rate		2.25%
Retirement age		65 years
CANADA \| Pension Plans
Reconciliation Of Benefit Obligation Plan Assets And Funded Status [Abstract]
Benefit obligation	25,349	$ 28,110
Fair value of plan assets	(22,417)	(22,337)
Provision for pensions	$ 2,932	$ 5,773
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Discount rate	3.21%	2.61%
CANADA \| Post Retirement Plans
Reconciliation Of Benefit Obligation Plan Assets And Funded Status [Abstract]
Benefit obligation	$ 8,569	$ 9,632
Provision for pensions	$ 8,569	$ 9,632
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Discount rate	3.30%	2.75%
Minimum \| CANADA \| Pension Plans
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Salary increase	2.75%	2.75%
Retirement age	58 years	58 years
Minimum \| CANADA \| Post Retirement Plans
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Retirement age	58 years	58 years
Maximum \| CANADA \| Pension Plans
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Salary increase	3.00%	3.00%
Retirement age	60 years	60 years
Maximum \| CANADA \| Post Retirement Plans
Actuarial Assumptions Used To Calculate Defined Benefit Obligation [Abstract]
Retirement age	60 years	60 years
Not later than one year \| North America \| Pension Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	$ 1,043
Not later than one year \| North America \| Post Retirement Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	194
Later than one year and not later than two years \| North America \| Pension Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	1,086
Later than one year and not later than two years \| North America \| Post Retirement Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	203
Later than two years and not later than three years \| North America \| Pension Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	1,176
Later than two years and not later than three years \| North America \| Post Retirement Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	228
Later than three years and not later than four years \| North America \| Pension Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	1,230
Later than three years and not later than four years \| North America \| Post Retirement Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	251
Later than five years and not later than ten years \| North America \| Pension Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	6,599
Later than five years and not later than ten years \| North America \| Post Retirement Plans
Estimated Future Benefit Payments [Abstract]
Estimated future benefit payments	$ 1,578
Later than twenty years and not later than twenty-five years \| Actuarial assumption of medical cost trend rates [member]
Estimated Future Benefit Payments [Abstract]
Health care cost trend rate	4.00%
Globe Metallurgical Inc \| North America \| Pension Plans
Reconciliation Of Benefit Obligation Plan Assets And Funded Status [Abstract]
Total settlement payment from plan termination	$ 2,784
Net income recognized from plan termination	$ 1,027
Globe Metallurgical Inc \| North America \| Non Contributory Plans [Member]
Disclosure of defined benefit plans [line items]
Number of defined benefit plans sponsored \| plan	3

Provisions - Employee obligat_5

Provisions - Employee obligations - North America plan assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
North America
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	$ 76,956
Service cost	684
Borrowing costs	1,548
Actuarial differences	(4,261)
Benefits paid	(2,882)
Exchange differences	93
Expenses	(119)
Plan amendments	(38,101)
Obligations at end of year	$ 33,918	$ 76,956
Disclosure of fair value of plan assets [abstract]
Cash		33.00%
Equity	27.00%	10.00%
Fixed Income Securities	14.00%	32.00%
Assets held by insurance company	59.00%	25.00%
Total	100.00%	100.00%
Ifrs Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	$ 58,348
Fair value of plan assets at the end of the year	22,431	$ 58,348
North America \| Pension Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	67,324
Obligations at end of year	25,349	67,324
North America \| Post Retirement Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	9,632
Obligations at end of year	8,569	9,632
USA \| Pension Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	39,214
Obligations at end of year		39,214
Ifrs Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	36,011
Fair value of plan assets at the end of the year	14	36,011
CANADA \| Pension Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	28,110
Obligations at end of year	25,349	28,110
Ifrs Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	22,337
Fair value of plan assets at the end of the year	22,417	22,337
CANADA \| Post Retirement Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	9,632
Obligations at end of year	8,569	9,632
Present value of defined benefit obligation [member] \| USA \| Pension Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	39,214
Service cost	151
Borrowing costs	566
Actuarial differences	(18)
Benefits paid	(1,693)
Expenses	(119)
Plan amendments	(38,101)
Obligations at end of year		39,214
Present value of defined benefit obligation [member] \| CANADA \| Pension Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	28,110
Service cost	162
Borrowing costs	720
Actuarial differences	(2,688)
Benefits paid	(1,020)
Exchange differences	65
Obligations at end of year	25,349	28,110
Present value of defined benefit obligation [member] \| CANADA \| Post Retirement Plans
Changes in net defined benefit liability (asset) [abstract]
Obligations at beginning of year	9,632
Service cost	371
Borrowing costs	262
Actuarial differences	(1,555)
Benefits paid	(169)
Exchange differences	28
Obligations at end of year	8,569	9,632
Plan assets [member] \| North America
Ifrs Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	58,348
Interest income on assets	1,096
Benefits paid	(2,713)
Actuarial return (loss) on plan assets	(657)
Exchange Differences	57
Other	556
Plan Settlement	(34,256)
Fair value of plan assets at the end of the year	22,431	58,348
Plan assets [member] \| USA
Ifrs Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	36,011
Interest income on assets	514
Benefits paid	(1,693)
Actuarial return (loss) on plan assets	(610)
Other	48
Plan Settlement	(34,256)
Fair value of plan assets at the end of the year	14	36,011
Plan assets [member] \| CANADA
Ifrs Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	22,337
Interest income on assets	582
Benefits paid	(1,020)
Actuarial return (loss) on plan assets	(47)
Exchange Differences	57
Other	508
Fair value of plan assets at the end of the year	$ 22,417	$ 22,337

Provisions - Third-Party Liabil

Provisions - Third-Party Liability (Details) $ in Thousands	12 Months Ended
Provisions - Third-Party Liability (Details) $ in Thousands	Dec. 31, 2021USD ($)plan	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Other provisions [abstract]
Non-current provisions	$ 60,958	$ 108,487
Current provisions	137,625	55,296
Provisions	$ 198,583	163,783	$ 130,943
Globe Metallurgical Inc
Other Benefit Plans [Abstract]
Company match percentage	25.00%
Globe Metallurgical Inc \| North America
Other Benefit Plans [Abstract]
Number of defined contribution plans provided \| plan	2
Maximum \| Globe Metallurgical Inc
Other Benefit Plans [Abstract]
Percentage of compensation	6.00%
Environmental rehabilitation
Other provisions [abstract]
Non-current provisions	$ 2,562	2,910
Current provisions	1,133	1,256
Provisions for litigation - FerroPem France
Other provisions [abstract]
Current provisions	1,143	1,080
Provisions for third-party liability
Other provisions [abstract]
Non-current provisions	8,905	10,759
Provisions	8,905	$ 10,759	$ 9,263
Later than one year and not later than two years \| Provisions for third-party liability \| FerroPem, S.A.S.
Other Benefit Plans [Abstract]
Estimated future benefit payments	532
Later than two years and not later than three years \| Provisions for third-party liability \| FerroPem, S.A.S.
Other Benefit Plans [Abstract]
Estimated future benefit payments	269
Later than three years and not later than four years \| Provisions for third-party liability \| FerroPem, S.A.S.
Other Benefit Plans [Abstract]
Estimated future benefit payments	272
Later than four years and not later than five years \| Provisions for third-party liability \| FerroPem, S.A.S.
Other Benefit Plans [Abstract]
Estimated future benefit payments	277
Later than five years and not later than ten years \| Provisions for third-party liability \| FerroPem, S.A.S.
Other Benefit Plans [Abstract]
Estimated future benefit payments	$ 1,428

Provisions - Other Benefit Plan

Provisions - Other Benefit Plans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other provisions [abstract]
Provisions	$ 198,583	$ 163,783	$ 130,943
Other Provisions Provisions For Taxes
Other provisions [abstract]
Provisions	2,506	$ 6,053
Other Provisions for Reclaiming Land
Other provisions [abstract]
Provisions	$ 6,422

Bank borrowings - (Details)

Bank borrowings - (Details) - USD ($) $ in Thousands	12 Months Ended
Bank borrowings - (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2021
Borrowings [abstract]
Non-Current Amount	$ 5,277	$ 3,670
Current Amount	102,330	95,297
Principal amount - Gross	5,277	3,670
Total	107,607	98,967
Amount due for settlement after 12 months	5,277	3,670
Credit facilities
Borrowings [abstract]
Principal amount	100,000
Current Amount	27,237
Principal amount - Gross	31,155
Unamortised issuance costs	(3,918)
Total	27,237
Amount due for settlement within 12 months	27,237
Receivable Factoring Facility
Borrowings [abstract]
Principal amount	73,626	67,956
Current Amount	74,844	93,090
Total	74,844	93,090
Other Loans
Borrowings [abstract]
Non-Current Amount	5,277	3,670
Current Amount	249	2,207
Total	5,526	5,877
Amount due for settlement after 12 months	$ 5,277	$ 3,670

Bank borrowings - Credit and Se

Bank borrowings - Credit and Security Agreement - (Details) - USD ($) $ in Thousands	Mar. 16, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	[1]	Oct. 11, 2019
Bank Borrowings
Repayment of debt		$ 671,467	$ 235,296	$ 329,501
ABL Revolver
Bank Borrowings
Maximum borrowing capacity						$ 100,000
Repayment of debt	$ 39,476

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Bank borrowings - Borrowings fr

Bank borrowings - Borrowings from receivable factoring facility - (Details) - Factoring of receivables € in Thousands, $ in Thousands	Oct. 02, 2020USD ($)	Oct. 02, 2020EUR (€)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Disclosure of detailed information about borrowings [line items]
Upfront Cash Consideration \| $	$ 48,800		$ 659,083	$ 169,105
Cash consideration advanced for the financing facility		€ 60,000
Percentage of accounts receivable	10.00%	10.00%
Percentage of annual agent fee	0.15%	0.15%
Percentage of financing commission	1.00%	1.00%
Bad debt losses		€ 5,000

Bank borrowings - Other Loans -

Bank borrowings - Other Loans - (Details) $ in Thousands	1 Months Ended	12 Months Ended
Bank borrowings - Other Loans - (Details) $ in Thousands	Jul. 31, 2020USD ($)	Dec. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	[1]
Bank Borrowings
Outstanding balance		$ 98,967	$ 107,607
Repayment of debt		671,467	235,296	$ 329,501
Other Loans
Bank Borrowings
Outstanding balance		5,877	$ 5,526
Other Loans \| Argentina
Bank Borrowings
Outstanding balance		$ 975
Number of short term loans \| loan		3
Other Loans \| France
Bank Borrowings
Principal amount	$ 5,277
Outstanding balance		$ 3,670
Interest rate (as a percent)	0.00%
Other Loans \| Minimum \| France
Bank Borrowings
Credit facility term	1 year
Other Loans \| Maximum \| France
Bank Borrowings
Credit facility term	5 years

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Bank borrowings - Borrowing det

Bank borrowings - Borrowing detail by currency - (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Borrowings [abstract]
Non-Current Principal Amount	$ 3,670	$ 5,277
Current Principal Amount	95,297	102,330
Total	98,967	107,607
US Dollars
Borrowings [abstract]
Current Principal Amount	1,245	27,486
Total	1,245	27,486
Euros
Borrowings [abstract]
Non-Current Principal Amount	3,670
Current Principal Amount	94,052
Total	$ 97,722
Other.
Borrowings [abstract]
Non-Current Principal Amount		5,277
Current Principal Amount		74,844
Total		$ 80,121

Bank borrowings - Borrowing d_2

Bank borrowings - Borrowing detail by maturity - (Details) $ in Thousands	Dec. 31, 2021USD ($)
Borrowings [abstract]
Maturity of bank borrowings	$ 99,840
Not later than one year
Borrowings [abstract]
Maturity of bank borrowings	96,170
Later than three years and not later than four years
Borrowings [abstract]
Maturity of bank borrowings	3,670
Receivable Factoring Facility
Borrowings [abstract]
Maturity of bank borrowings	93,941
Receivable Factoring Facility \| Not later than one year
Borrowings [abstract]
Maturity of bank borrowings	93,941
Other Loans
Borrowings [abstract]
Maturity of bank borrowings	5,899
Other Loans \| Not later than one year
Borrowings [abstract]
Maturity of bank borrowings	2,229
Other Loans \| Later than three years and not later than four years
Borrowings [abstract]
Maturity of bank borrowings	$ 3,670

Leases - Obligations and Maturi

Leases - Obligations and Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease liabilities [abstract]
Non-current	$ 9,968	$ 13,994
Current	8,390	8,542
Total lease liabilities	18,358	22,536	$ 25,872
Other leases
Lease liabilities [abstract]
Non-current	9,968	13,994
Current	8,390	8,542
Total lease liabilities	18,358	$ 22,536
Later than one year and not later than two years
Lease liabilities [abstract]
Non-current	5,905
Later than one year and not later than two years \| Other leases
Lease liabilities [abstract]
Non-current	5,905
Later than two years and not later than three years
Lease liabilities [abstract]
Non-current	1,672
Later than two years and not later than three years \| Other leases
Lease liabilities [abstract]
Non-current	1,672
Later than three years and not later than four years
Lease liabilities [abstract]
Non-current	1,027
Later than three years and not later than four years \| Other leases
Lease liabilities [abstract]
Non-current	1,027
Later than four years and not later than five years
Lease liabilities [abstract]
Non-current	310
Later than four years and not later than five years \| Other leases
Lease liabilities [abstract]
Non-current	310
Later than five years
Lease liabilities [abstract]
Non-current	1,054
Later than five years \| Other leases
Lease liabilities [abstract]
Non-current	$ 1,054

Leases - IFRS 16 Impact (Detail

Leases - IFRS 16 Impact (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - IFRS 16 Impact (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases
Weighted average discount rate	5.50%	5.50%
Movement In Lease Liabilities [Roll Forward]
Balance at December 31, 2019	$ (22,536)	$ (25,872)
Additions	(7,761)	(5,471)
Disposals and other	517	102
Interest	(1,100)	(1,358)	$ (1,972)
Lease payments	11,285	11,673
Exchange differences	1,237	(1,610)
Balance at December 31, 2020	$ (18,358)	$ (22,536)	$ (25,872)

Leases - Financial position (De

Leases - Financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Non-current lease liabilities	$ (9,968)	$ (13,994)
Current lease liabilities	(8,390)	(8,542)
Accumulated depreciation and amortisation
Disclosure of quantitative information about right-of-use assets [line items]
Noncurrent assets	(29,855)	(22,498)
Land and buildings
Disclosure of quantitative information about right-of-use assets [line items]
Noncurrent assets	17,156	17,588
Property, plant & equipment
Disclosure of quantitative information about right-of-use assets [line items]
Noncurrent assets	$ 27,762	$ 24,446

Leases - Income statement and c

Leases - Income statement and cash flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases
Depreciation, right-of-use assets	$ 7,357	$ 10,112
Interest expense on lease	1,100	1,358	$ 1,972
Currency translation gains on lease liabilities	1,237	(1,610)
Currency translation losses on right of use assets	(1,838)	2,138
Principal	10,185	10,315
Interest	$ 1,100	$ 1,358

Debt instruments (Details)

Debt instruments (Details) - USD ($) $ in Thousands	Jul. 30, 2021	May 17, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	[1]	Feb. 15, 2017
Debt Instruments
Unamortised issuance costs			$ (6,064)	$ (3,380)
Accrued coupon interest			30,416	10,888
Amount due for settlement within 12 months			35,359	10,888
Amount due for settlement after 12 months			404,938	346,620
Total debt instruments			440,297	357,508
Refinancing charge	$ 90,800
Effective interest rate	9.096%
Refinancing adjustment	$ 6,462
Proceeds from borrowings			$ 659,083	177,593	$ 245,629
Advisory fees	31,700
Market value of shares issued to the bondholders and underwriters	51,600
Senior Notes due 2022
Debt Instruments
Principal amount							$ 350,000
Fixed Interest Rate			9.375%				9.375%
Secured Super Senior Notes [Member]
Debt Instruments
Principal amount			$ 60,000
Fair value of notes			$ 60,742
Secured Super Senior Notes [Member] \| Ferroglobe Finance Company, PLC [Member]
Debt Instruments
Principal amount	$ 60,000	$ 60,000
Fixed Interest Rate	9.00%	9.00%
Proceeds from borrowings		$ 40,000
Percentage of Repurchase			101.00%
Secured Reinstated Senior Notes [Member]
Debt Instruments
Principal amount			$ 351,003
Fixed Interest Rate	9.375%		9.375%
Fair value of notes			$ 354,084
Cash fee	$ 51,611
Conversion Price	1,000
Percentage of Repurchase			101.00%
Percentage of guarantor coverage test			90.00%
Outstanding upfront fees capitalized	$ 1,000
Unsecured Stub Notes [Member]
Debt Instruments
Principal amount			$ 4,942	$ 350,000
Total debt instruments			$ 4,900
Fixed Interest Rate	9.375%
Redemption price of notes			100.00%
Fair value of notes			$ 5,082
Exchange Percentage	98.588%
Conversion Price	$ 1,000

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Other financial Liabilities (De

Other financial Liabilities (Details) € in Thousands, $ in Thousands	Sep. 08, 2016agreement	Apr. 30, 2018EUR (€)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	[1]	Dec. 31, 2021EUR (€)	Dec. 31, 2020EUR (€)	Sep. 08, 2016EUR (€)	Sep. 08, 2016installment	Sep. 08, 2016item
Categories of financial liabilities [abstract]
Non-Current			$ 4,549	$ 29,094
Current			62,464	34,802
Total			67,013	63,896
Financial Loans With Governments Agencies [Abstract]
Repayment of debt			671,467	235,296	$ 329,501
Financial Loans With Governments Agencies
Categories of financial liabilities [abstract]
Non-Current			4,549	29,094
Current			62,464	34,802
Total			67,013	63,896
REINDUS Loan
Financial Loans With Governments Agencies [Abstract]
Financial liabilities, at fair value			$ 44,200
Ferroatlantica, S.A.U. \| Financial Loans With Governments Agencies
Financial Loans With Governments Agencies [Abstract]
Number of loan agreements	2										2
Interest rate (as a percent)			3.55%				3.55%
Default interest rate (as a percent)			3.75%				3.75%
Ferroatlantica, S.A.U. \| Loan Number 1
Financial Loans With Governments Agencies [Abstract]
Loans received \| €									€ 44,999
Number of loan installments \| installment										7
Borrowings Term	10 years
Grace period at start of loan	3 years
Amortized cost			$ 61,815	$ 55,004			€ 54,578	€ 44,824
Ferroatlantica, S.A.U. \| Loan Number 2
Financial Loans With Governments Agencies [Abstract]
Loans received \| €									€ 26,909
Repayment of debt \| €		€ 26,909

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Other financial Liabilities - D

Other financial Liabilities - Derivative financial instruments (Details) € in Thousands, $ in Thousands	Aug. 30, 2019	May 12, 2017USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019	May 12, 2017EUR (€)
Cross currency swap
Other financial liabilities
Nominal Amount		$ 192,500		$ 42,500			€ 176,638
Market value				0	$ 9,600
Cash receipts from swap			$ 3,608
Foreign Currency Swaps
Interest receivable (as a percent)		9.375%
Fixed Interest Rate		8.062%					8.062%
Income (Expense) recorded in financial derivative loss				$ 3,164	2,736
Cash flow hedges \| Cross currency swap
Foreign Currency Swaps
Percentage of derivative designated as a hedge				77.00%
Gain on change in fair value of hedged item used as basis for recognising hedge ineffectiveness				$ 11,161
Balance of CCS remained in the valuation adjustment reserve				(2,226)
Cash flow hedges \| Cross currency swap \| Finance costs.
Foreign Currency Swaps
Gain transferred from valuation adjustment reserve to income statement				429	1,639
Cash flow hedges \| Cross currency swap \| Exchange differences
Foreign Currency Swaps
Gain transferred from valuation adjustment reserve to income statement				5,090	2,874
Derivatives designated as hedging instruments \| Cash flow hedges \| Cross currency swap
Foreign Currency Swaps
Gain recognized in other comprehensive income				11,161	9,663
Derivatives not designated as hedging instruments \| Cash flow hedges \| Cross currency swap
Foreign Currency Swaps
Gain (loss) recognised in profit or loss				3,168	$ 2,729
Senior Notes due 2022 issued by Ferroglobe PLC \| Cash flow hedges \| Cross currency swap
Other financial liabilities
Nominal Amount				$ 150,000
Ferroatlantica, S.A.U.
Foreign Currency Swaps
Percentage of interest in subsidiary sold	100.00%					100.00%

Trade and other payables (Detai

Trade and other payables (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Trade and other payables.
Payable to suppliers	$ 200,999	$ 147,512
Trade notes and bills payable	5,001	1,689
Total	$ 206,000	$ 149,201

Other Obligations (Details)

Other Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Obligations
Payable to non-current asset suppliers - Non-Current	$ 135	$ 130
Payable to non-current asset suppliers - Current	2,677	2,633
Payable to non-current asset suppliers	2,812	2,763
Guarantees and deposits - non-current	14	17
Guarantees and deposits - current	4,554	266
Guarantees and deposits	4,568	283
Contingent consideration - non -current	13,504	14,859
Contingent consideration - current	13,023	1,773
Contingent consideration	26,527	16,632
Tolling agreement liability - noncurrent	24,429
Tolling agreement liability - current	2,589
Tolling agreement liability	27,018
Other obligations, Non-Current	38,082	15,006
Other obligations, Current	22,843	4,672
Other obligations	$ 60,925	$ 19,678

Other Obligations - Narratives

Other Obligations - Narratives (Details) € in Thousands, $ in Thousands	Aug. 30, 2019item	Feb. 01, 2018USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019	Dec. 31, 2021EUR (€)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Increase (decrease) in fair value of contingent consideration.			$ 26,526
Ferroatlantica, S.A.U.
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of interest in subsidiary sold	100.00%				100.00%
Number of hydroelectric power plants transferred. \| item	10
Sensitivity On Discount Rate, Decrease By Ten Percent
Disclosure of terms and conditions of share-based payment arrangement [line items]
Increase (decrease) in fair value of contingent consideration.			26,922
Sensitivity On Discount Rate, Increase By Ten Percent
Disclosure of terms and conditions of share-based payment arrangement [line items]
Increase (decrease) in fair value of contingent consideration.			26,145
Tolling Agreement with Cee-Dumbria Ferroalloys Plant
Disclosure of terms and conditions of share-based payment arrangement [line items]
Litigation liability			27,018			€ 23,855
Kintuk
Disclosure of terms and conditions of share-based payment arrangement [line items]
Percentage of equity interests acquired		100.00%
Payment of contingent consideration			3,273
Contingent consideration			26,537	$ 16,632
Ferroglobe Mangan Norge and Ferroglobe Manganese France
Disclosure of terms and conditions of share-based payment arrangement [line items]
Period for contingent consideration		8 years 6 months
Ferroglobe Mangan Norge and Ferroglobe Manganese France \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Contingent consideration arrangements		$ 0
Average simulated revenues			245,292	135,868
Ferroglobe Mangan Norge and Ferroglobe Manganese France \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Contingent consideration arrangements		$ 60,000
Average simulated revenues			$ 311,050	$ 262,441
Ferroglobe Mangan Norge
Disclosure of terms and conditions of share-based payment arrangement [line items]
Discount rates (as a percent)			10.70%	12.50%
Ferroglobe Manganese France
Disclosure of terms and conditions of share-based payment arrangement [line items]
Discount rates (as a percent)			10.90%	11.50%

Other liabilities - Other Curre

Other liabilities - Other Current and Non-current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other liabilities
Remuneration payable - Non- current		$ 20
Remuneration payable - current	$ 36,046	27,552
Remuneration payable	36,046	27,572
Tax payables - current	17,613	23,177
Total tax payables	17,613	23,177
Other liabilities - non-current	1,476	1,741
Other liabilities - current	20,669	10,592
Other liabilities	22,145	12,333
Total other non current liabilities	1,476	1,761
Total other current liabilities	74,328	61,321
Total other liabilities	$ 75,804	$ 63,082

Other liabilities - Tax Payable

Other liabilities - Tax Payables and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other liabilities
VAT, current	$ 4,839	$ 4,061
VAT	4,839	4,061
Accrued social security taxes payable, current	6,251	13,266
Accrued social security taxes payable	6,251	13,266
Personal income tax withholding payable, current	820	1,111
Personal income tax withholding payable	820	1,111
Other tax payables, current	5,703	4,739
Other tax payables	5,703	4,739
Total current tax payables	17,613	23,177
Total tax payables	$ 17,613	$ 23,177

Other liabilities - Stock Optio

Other liabilities - Stock Options (Details) - Ferroglobe PLC Equity Incentive Plan	May 29, 2016	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Term of service condition	3 years	3 years
Outstanding at beginning of the period		3,411,974	2,175,853
Granted during the period		1,307,934	1,411,271
Exercised during the period		(309,462)	(175,150)
Expired/forfeited during the period \| shares		(51,010)
Outstanding at end of the period		4,359,436	3,411,974
Exercisable as of December 31, 2020		455,790

Other liabilities - Share-based

Other liabilities - Share-based payment arrangements (Details) - Ferroglobe PLC Equity Incentive Plan	Sep. 09, 2021USD ($)Y$ / shares	Dec. 16, 2020USD ($)Y$ / shares	Mar. 13, 2019USD ($)Y$ / shares	Jun. 14, 2018USD ($)$ / shares	Mar. 21, 2018USD ($)Y$ / shares	Jul. 01, 2017Y	Jun. 20, 2017USD ($)Y$ / shares	Jun. 01, 2017USD ($)$ / shares	Nov. 24, 2016USD ($)Y$ / shares	May 29, 2016	Dec. 31, 2021USD ($)EquityInstrumentsY$ / shares	Dec. 31, 2020USD ($)EquityInstrumentsY$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											4,359,436	3,411,974
Service condition										3 years	3 years
Percentage of share price											40.00%
Percentage of operating (loss) profit											30.00%
Percentage of net cash flow											30.00%
Number of options with no performance obligations											71,608	86,573
Number of options with performance conditions											4,287,828	3,325,401
Weighted average fair value of share options granted	$ 8.83	$ 1.23	$ 2.69		$ 22.56		$ 1,590	$ 16.77	$ 11.81
Grant date share price \| $ / shares	$ 8.57	$ 1.61	$ 2.44		$ 15.19		$ 1,050	$ 10.96	$ 11.81
Exercise price \| $ / shares	$ 0.01	$ 0	$ 0		$ 0		$ 0	$ 0	$ 0		$ 8.83	$ 1.23
Expected volatility	104.75%	91.30%	53.54%		49.86%		43.15%	43.09%	44.83%
Option life \| Y	2.31	4	3		3	3	3		3		8.37	11.93
Risk-free interest rate	0.28%	0.27%	2.40%		2.48%		1.52%	1.44%	1.39%
Performance period remaining at grant date	2 years 3 months 21 days	4 years 14 days	2 years 9 months 21 days		2 years 9 months 10 days		2 years 6 months 10 days	2 years 6 months 29 days	2 years 1 month 6 days		3 years
Company TSR at grant date			(48.10%)		2.10%		(0.30%)	4.00%	40.00%
Median comparator group TSR at grant date			(4.80%)		(6.20%)		(7.20%)	(3.70%)	56.40%
Median index TSR at grant date			10.90%		(8.40%)		0.60%	4.80%	45.70%
Share based compensation expense											$ 3,627,000	$ 2,017,000
Weighted average share price at the date of exercise for stock options exercised \| $ / shares											$ 5.28
Grant date of September 9, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											1,307,934
Weighted average fair value of share options granted											$ 8.83
Exercise price \| $ / shares
Grant date of December 16, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											1,411,271	1,411,271
Weighted average fair value of share options granted											$ 1.23
Exercise price \| $ / shares
Grant date of March 13, 2019
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											1,184,441	1,184,441
Weighted average fair value of share options granted											$ 2.69
Exercise price \| $ / shares
Grant date of June 14, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											70,774	85,739
Weighted average fair value of share options granted				$ 9.34
Exercise price \| $ / shares
Grant date of March 21, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											136,434	263,153
Weighted average fair value of share options granted					$ 22.56
Exercise price \| $ / shares
Grant date of June 20, 2017
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments												17,342
Weighted average fair value of share options granted							$ 15.90
Exercise price \| $ / shares
Grant date of June 1, 2017 two
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											834	834
Weighted average fair value of share options granted											$ 10.96
Exercise price \| $ / shares
Grant date of June 1, 2017 one
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											168,469	304,811
Weighted average fair value of share options granted								$ 16.77
Exercise price \| $ / shares
Grant date of November 24, 2016
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of instruments granted \| EquityInstruments											79,279	144,383
Weighted average fair value of share options granted									$ 16.66
Exercise price \| $ / shares
Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options receivable by participant depending on financial performance of the Company, as a percent											0.00%
Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Options receivable by participant depending on financial performance of the Company, as a percent											200.00%

Other liabilities - Options und

Other liabilities - Options under Business Combination (Details) - Ferroglobe Stock Option Replacement Awards	12 Months Ended
	Dec. 31, 2021USD ($)EquityInstruments$ / shares	Dec. 31, 2020USD ($)EquityInstruments$ / shares	Dec. 31, 2019EquityInstruments$ / shares	Dec. 23, 2015
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share ratio exchanged upon business combination				1
Outstanding at beginning of the period \| EquityInstruments	26,268	26,268
Outstanding at end of the period \| EquityInstruments	26,268	26,268	26,268
Exercisable \| EquityInstruments	26,268
Weighted average exercise price at the beginning of the period \| $ / shares	$ 16.70	$ 16.70
Weighted average exercise price at the end of the period \| $ / shares	16.70	$ 16.70	$ 16.70
Weighted average exercise price of share options exercisable in share-based payment arrangement \| $ / shares	$ 16.70
Weighted average remaining contractual life of outstanding share options	1 month 28 days	1 month 28 days	1 month 28 days
Weighted average remaining contractual term, exercisable	1 month 28 days
Share based compensation expense \| $	$ 120,000	$ 18,000
Number of share options exercised in share-based payment arrangement \| $	0	0
Expired \| $	0	0

Other liabilities - RSUs and SA

Other liabilities - RSUs and SARs (Details)	12 Months Ended
Other liabilities - RSUs and SARs (Details)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Restricted stock units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting life of share-based awards	3 years
Share options exercised	0	0
Outstanding	26,268,000
Share based compensation expense	$ 120,000	$ 18,000
Share based compensation expense, after tax		11,000
Current liability from share based payments	$ 163,000	$ 43,000
Stock appreciation rights
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting life of share-based awards	3 years
Vesting percentage of share-based awards	33.33%
Outstanding	0	16,510

Tax matters - Components of cur

Tax matters - Components of current and deferred tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Tax matters
Current income tax charge	$ 5,284	$ 4,307	$ 2,133
Adjustments in current income tax in respect of prior period years		901	4,753
Total	5,284	5,208	6,886
Origination and reversal of temporary differences	(9,954)	(20,961)	(48,618)
Impact of tax rate changes			(46)
Impairment of deferred tax assets		37,660
Adjustments in deferred tax in respect of prior years	108	33	237
Total	(9,846)	16,732	(48,427)
Income tax expense (benefit)	$ (4,562)	$ 21,939	$ (41,541)

Tax matters - Statutory tax rat

Tax matters - Statutory tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Tax matters
Accounting profit/(loss) before income tax	$ (119,936)	$ (222,420)	$ (411,818)
Adjustment for discontinued operations		(5,399)	(28,135)
Accounting profit/(loss) before income tax	$ (119,936)	$ (227,819)	$ (439,954)
Effective tax rate	18.00%	24.00%	24.00%
At weighted effective tax rate of 18% (2020: 24% and 2019: 24%)	$ (22,650)	$ (54,294)	$ (105,369)
Non-taxable income/(expenses)			(17,020)
Non-deductible expenses	(11,399)	6,779	49,390
Movements in unprovided deferred tax			4,604
Differing territorial tax rates	2,603	3,064	(3,987)
Adjustments in respect of prior periods		(50)	2,160
Other items	27,885	70,123	20,407
Elimination of effect of interest in joint ventures	(782)	899	917
Other permanent differences	(673)	(389)	9,234
Incentives and deductions	88	(2,456)	(1,302)
US State taxes	367	(1,737)	(824)
Taxable capital gains			249
Income tax expense (benefit)	$ (4,562)	$ 21,939	$ (41,541)

Tax matters - Deferred tax asse

Tax matters - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets and liabilities
Opening balance	$ (27,781)	$ (14,506)
Prior Year Change	(571)
Recognised in P&L	10,525	20,928
Impairment of deferred tax assets		(37,660)
Reclassifications	(451)	580
Exchange Differences	143	2,878
Closing balance	(18,135)	(27,781)
Intangible assets
Deferred tax assets and liabilities
Opening balance	(458)	(414)
Prior Year Change	21
Recognised in P&L	(34)	(44)
Exchange Differences	20
Closing balance	(451)	(458)
Biological assets.
Deferred tax assets and liabilities
Opening balance	(1)	(1)
Recognised in P&L	1
Closing balance		(1)
Other Provision
Deferred tax assets and liabilities
Opening balance	14,235	15,928
Prior Year Change	(7)
Recognised in P&L	8,503	2,757
Impairment of deferred tax assets		(3,357)
Reclassifications	(986)	(1,655)
Exchange Differences	(73)	562
Closing balance	21,673	14,235
Property, plant & equipment
Deferred tax assets and liabilities
Opening balance	(48,263)	(64,697)
Prior Year Change	(585)
Recognised in P&L	(7,481)	16,094
Impairment of deferred tax assets		(219)
Reclassifications	3,238	434
Exchange Differences	860	125
Closing balance	(52,231)	(48,263)
Inventories.
Deferred tax assets and liabilities
Opening balance	64	(2,542)
Recognised in P&L	(64)	639
Reclassifications		1,993
Exchange Differences		(26)
Closing balance		64
Tax losses
Deferred tax assets and liabilities
Opening balance	9,525	41,728
Recognised in P&L	1,491	(1,073)
Impairment of deferred tax assets		(33,162)
Reclassifications	(3,959)	(154)
Exchange Differences	(704)	2,187
Closing balance	6,353	9,525
Incentives and credits
Deferred tax assets and liabilities
Opening balance	1,426	2,139
Recognised in P&L	7,906
Impairment of deferred tax assets		(921)
Reclassifications		169
Exchange Differences	1	40
Closing balance	9,333	1,426
Partnership Interest
Deferred tax assets and liabilities
Opening balance	(8,983)	(9,890)
Recognised in P&L	469	1,647
Reclassifications		(740)
Closing balance	(8,514)	(8,983)
Other
Deferred tax assets and liabilities
Opening balance	4,674	3,243
Recognised in P&L	(266)	909
Reclassifications	1,256	533
Exchange Differences	39	(10)
Closing balance	$ 5,703	$ 4,674

Tax matters - Significant compo

Tax matters - Significant components of deferred tax assets and liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)item	Dec. 31, 2020USD ($)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 45,246	$ 31,528
Deferred tax liabilities	(63,381)	(59,309)
Offset between deferred tax assets and deferred tax liabilities	38,236	31,528
Total deferred tax assets due to temporary differences recognized in the statement of financial position	7,010
Total deferred tax liabilities due to temporary differences recognized in the statement of financial position	(25,145)	(27,781)
Total	$ 768,296	628,826
Number of years open to review	4 years
Number of subsidiaries restructured \| item	2
Unused tax losses
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total	$ 624,635	513,189
Unused tax credits
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total	8,487	8,685
Unrecognised deductible temporary differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Total	$ 135,174	$ 106,952

Related party transactions an_3

Related party transactions and balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related party transactions and balances
Receivables, Non Current	$ 1,699	$ 2,454
Receivables, Current	2,841	3,076
Payables, Current	9,545	3,196
Sales and Operating Income			$ 144
Cost of Sales	132,566	39,901	65,407
Other Operating Expenses	4,930	4,208	7,551
Finance Income		16	68
Inmobiliaria Espacio, S.A.
Related party transactions and balances
Receivables, Current	$ 2,841	3,078
Related party transaction loan maturity term	1 year
Other Operating Expenses			1
Finance Income		16	68
Inmobiliaria Espacio, S.A. \| EURIBOR
Related party transactions and balances
Applicable margin (as a percent)	2.75%
Villar Mir Energia, S.L.U.
Related party transactions and balances
Receivables, Non Current	$ 1,699	2,454
Payables, Current	8,808	2,458
Cost of Sales	132,566	39,900	65,406
Other Operating Expenses	1,365	647	681
Villar Mir Energia, S.L.U. \| Grupo FerroAtlantica, S.A.U
Related party transactions and balances
Obligation for purchase of energy plus service charge	102,066
Villar Mir Energia, S.L.U. \| Ferroatlantica del Cinca, S.L.
Related party transactions and balances
Obligation for purchase of energy plus service charge	30,501
Espacio Information Technology, S.A.U.
Related party transactions and balances
Payables, Current	737	701
Other Operating Expenses	3,266	3,171	3,566
Energya VM Generacion, S.L
Related party transactions and balances
Sales and Operating Income			1
Other Operating Expenses			1
Energya VM Gestion, S.L
Related party transactions and balances
Cost of Sales			1
Other Operating Expenses	120	79	89
Aurinka
Related party transactions and balances
Cost of Sales		1
Other Operating Expenses	111	308	3,206
Other related parties
Related party transactions and balances
Receivables, Current		(2)
Payables, Current		37
Sales and Operating Income			143
Other Operating Expenses	$ 68	$ 3	7
Discontinued operations
Related party transactions and balances
Sales and Operating Income			12,635
Cost of Sales			66
Other Operating Expenses			490
Discontinued operations \| Villar Mir Energia, S.L.U.
Related party transactions and balances
Other Operating Expenses			373
Discontinued operations \| Energya VM Generacion, S.L
Related party transactions and balances
Sales and Operating Income			12,635
Other Operating Expenses			117
Discontinued operations \| Energya VM Gestion, S.L
Related party transactions and balances
Cost of Sales			$ 66

Guarantee commitments to thir_2

Guarantee commitments to third parties and contingent liabilities (Details) € in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2021EUR (€)	Dec. 31, 2021USD ($)caseemployee	Dec. 31, 2016item	Dec. 31, 2020USD ($)
Guarantee commitments to third parties and other contingent assets and liabilities
Bank guarantees commitments to third parties		$ 11,948		$ 19,969
Statutory maximum penalty per day per violation, from April, 2013 to December 2021
Guarantee commitments to third parties and other contingent assets and liabilities
Statutory maximum penalty per day per violation of standard provisions		93,750
Statutory maximum penalty per day per violation, after December 2021
Guarantee commitments to third parties and other contingent assets and liabilities
Statutory maximum penalty per day per violation of standard provisions		$ 109,024
Stamp Tax Litigation
Guarantee commitments to third parties and other contingent assets and liabilities
Loss contingency tax reassessment \| €	€ 1,400
Loss contingency tax penalty \| €	€ 600
Stamp Tax Litigation \| Minimum
Guarantee commitments to third parties and other contingent assets and liabilities
Loss contingency period	2 years
Stamp Tax Litigation \| Maximum
Guarantee commitments to third parties and other contingent assets and liabilities
Loss contingency period	4 years
Asbestos-related claims
Guarantee commitments to third parties and other contingent assets and liabilities
Number of employees \| employee		100
Number of case closed \| case		3
Number of grave cases \| case		3
Bond to guarantee civil financial responsibility		$ 1,143		$ 1,080
Other environment related contingent liability
Guarantee commitments to third parties and other contingent assets and liabilities
Number of notices of violations \| item			2

Income and expenses - Sale by S

Income and expenses - Sale by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Sales by segment
Sales	$ 1,778,908	$ 1,144,434	$ 1,615,222
Eliminations
Sales by segment
Sales	(48,287)	(94,619)	(273,684)
North America - Silicon \| Operating segments
Sales by segment
Sales	524,808	425,277	551,500
Europe - Silicon \| Operating segments
Sales by segment
Sales	665,337	467,728	593,907
Europe - Manganese \| Operating segments
Sales by segment
Sales	476,287	240,142	564,060
South Africa - Silicon \| Operating segments
Sales by segment
Sales	117,195	80,572	136,292
Other segments \| Operating segments
Sales by segment
Sales	$ 43,568	$ 25,334	$ 43,147

Income and expenses - Sale by G

Income and expenses - Sale by Geographical Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Sales by Geographical Area
Sales	$ 1,778,908	$ 1,144,434	$ 1,615,222
Spain
Sales by Geographical Area
Sales	251,528	133,370	183,969
Germany
Sales by Geographical Area
Sales	292,774	191,107	249,911
Italy
Sales by Geographical Area
Sales	76,721	42,067	99,796
France
Sales by Geographical Area
Sales	130,811	79,491	109,513
Other EU Countries
Sales by Geographical Area
Sales	176,046	88,443	220,475
USA
Sales by Geographical Area
Sales	515,095	404,633	533,764
Rest of World
Sales by Geographical Area
Sales	$ 335,933	$ 205,323	$ 217,794

Income and expenses - Staff Cos

Income and expenses - Staff Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Staff costs
Average number of employees	3,294	3,317	3,736
Wages, salaries and similar expenses	$ 214,374	$ 161,957	$ 208,317
Pension plan contributions	7,571	3,641	12,787
Employee benefit costs	58,972	49,184	63,925
Staff costs	$ 280,917	$ 214,782	$ 285,029
Directors
Staff costs
Average number of employees	8	6	8
Key management personnel
Staff costs
Average number of employees	289	291	345
Employees
Staff costs
Average number of employees	2,997	3,020	3,383

Income and expenses - Depreciat

Income and expenses - Depreciation and Amortization charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depreciation and amortization charges, operating allowances and write-downs
Amortization of intangible assets (Note 8)	$ 7,241	$ 7,183	$ 7,305
Depreciation of property, plant and equipment (Note 9)	90,087	101,006	112,824
Other write-downs and reversals			65
Depreciation and amortization charges, operating allowances and write-downs	$ 97,328	$ 108,189	$ 120,194

Income and expenses - Finance I

Income and expenses - Finance Income and Finance Costs (Details) - USD ($) $ in Thousands	Jul. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finance income
Finance income of related parties (Note 23)			$ 16	$ 68
Other finance income		$ 253	161	1,312
Finance income		253	177	1,380
Finance costs
Interest on debt instruments		42,579	34,989	33,705
Interest on loans and credit facilities		12,584	8,404	15,533
Interest on note and bill discounting		88	363	373
Interest expense on lease		1,100	1,358	1,972
Trade receivables securitization expense (Note 10)		399	15,044	9,192
Other finance costs		92,439	6,810	2,450
Finance costs		$ 149,189	$ 66,968	$ 63,225
Refinancing charge	$ 90,800

Income and expenses - Impairmen

Income and expenses - Impairment Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impairment losses
Impairment of goodwill (Note 7)	$ 0	$ 0	$ (174,008)
Impairment of intangible assets (Note 8)	(1,153)		(211)
Impairment of property, plant and equipment (Note 9)	1,663	(71,929)	(1,224)
Impairment of non-current financial assets	(373)		(456)
Impairment of other		(1,415)
Impairment (reversal)/losses	137	(73,344)	(175,899)
Net (loss) gain due to changes in the value of assets
Increase (decrease) in fair value of biological assets			(530)
Other (loss) / profit	758	158	(1,044)
Net (loss) gain due to changes in the value of assets	758	158	(1,574)
(Loss) gain on disposal of non-current assets
Gain on disposal of intangible assets		1,692
Gain on disposal of Property, plant and equipment	2,462	473	353
Loss on disposal of Property, plant and equipment	(1,123)	(873)	(1,761)
Gain on disposal of other non-current assets	47		6
Loss (gain) on disposal of subsidiary			821
Total (loss) gain on disposal of non-current assets	$ 1,386	$ 1,292	$ (2,223)

Income and expenses - Gains and

Income and expenses - Gains and Losses (Details) - USD ($) $ in Thousands	Sep. 19, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of analysis of single amount of discontinued operations [line items]
Property, plant and equipment		$ 554,914	$ 620,034	$ 740,906
Gain on disposal of intangible assets			1,692
(Loss) gain on disposal of subsidiary				$ (821)
Niagara Falls
Disclosure of analysis of single amount of discontinued operations [line items]
Proceeds from sale of assets		1,370
Property, plant and equipment		0	$ 0
France \| FerroPem, S.A.S.
Disclosure of analysis of single amount of discontinued operations [line items]
Proceeds from sale of assets		$ 1,092
Ultracore Polska Zoo
Disclosure of analysis of single amount of discontinued operations [line items]
(Loss) gain on disposal of subsidiary	$ (821)

Income and expenses - Contractu

Income and expenses - Contractual assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income and expenses
Contractual Assets	$ 5,785	$ 5,152	$ 5,271
Contractual Liabilities	5,047	1,687	134
Total	$ 10,832	$ 6,839	$ 5,405

Remuneration of key managemen_3

Remuneration of key management personnel (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Remuneration and other benefits paid to key management personnel
Fixed remuneration	$ 5,244	$ 5,086	$ 5,404
Variable remuneration	1,209	756	254
Contributions to pension plans and insurance policies	373	319	350
Share-based compensation	3,627	2,017	4,882
Termination benefits	119	1,886	1,147
Other remuneration	17	9	7
Total	10,589	10,073	12,044
Key management personnel
Remuneration and other benefits paid to key management personnel
Loans and advances granted	$ 0	$ 0	$ 0

Financial risk management (Deta

Financial risk management (Details) € in Thousands

Jul. 30, 2021USD ($)

Mar. 16, 2021USD ($)

Oct. 02, 2020USD ($)

Jul. 23, 2020EUR (€)

Jun. 02, 2020USD ($)installment

Sep. 08, 2016EUR (€)

Mar. 31, 2020USD ($)

Apr. 30, 2018EUR (€)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

[1]

Mar. 03, 2022EUR (€)

Dec. 31, 2021EUR (€)

Dec. 31, 2020EUR (€)

May 12, 2017USD ($)

May 12, 2017EUR (€)

Feb. 15, 2017USD ($)

Sep. 08, 2016agreement

Sep. 08, 2016installment

Sep. 08, 2016item

Financial risk management

Principal amount - Gross

$ 3,670,000

$ 5,277,000

Borrowings

98,967,000

107,607,000

Repayment of debt

$ 671,467,000

235,296,000

$ 329,501,000

Credit facilities

Financial risk management

Principal amount

100,000,000

Principal amount - Gross

31,155,000

Borrowings

27,237,000

ABL Revolver

Financial risk management

Repayment of debt

$ 39,476,000

Senior Notes due 2022

Financial risk management

Principal amount

$ 350,000,000

Fixed Interest Rate

9.375%

Super senior secured notes

Financial risk management

Principal amount

$ 60,000,000

Fixed Interest Rate

9.00%

Reinstated Senior Notes

Financial risk management

Principal amount

$ 345,058,000

Fixed Interest Rate

9.375%

Cross currency swap

Financial risk management

Principal amount

$ 42,500,000

$ 192,500,000

€ 176,638

Fixed Interest Rate

8.062%

Cash receipts from futures contracts, forward contracts, option contracts and swap contracts, classified as investing activities

$ 3,608,000

Interest rate risk

Financial risk management

Principal amount - Gross

28,168,000

Borrowings

$ 98,967,000

$ 107,607,000

Foreign currency risk

Financial risk management

Number of swaps outstanding

Foreign currency risk | Senior Notes due 2022

Financial risk management

Principal amount

$ 350,000,000

Foreign currency risk | Senior Notes due 2022 issued by Ferroglobe PLC

Financial risk management

Principal amount

$ 150,000,000

Foreign currency risk | Super senior secured notes

Financial risk management

Principal amount

$ 60,000,000

Foreign currency risk | Cross currency swap

Financial risk management

Percentage of Principal and Interest Payments

55.00%

Cash receipts from futures contracts, forward contracts, option contracts and swap contracts, classified as investing activities

$ 3,608,000

Liquidity risk | ABL Revolver

Financial risk management

Principal amount

$ 100,000,000

Borrowings

$ 31,155,000

Borrowings Term

3 months

Factoring of receivables

Financial risk management

Upfront cash consideration

$ 48,800,000

Restricted cash release

$ 18,000,000

Ferroatlantica, S.A.U. | Financial Loans With Governments Agencies

Financial risk management

Fixed Interest Rate

3.55%

Number of loan agreements

Ferroatlantica, S.A.U. | Loan Number 1

Financial risk management

Loans received | €

€ 44,999

Number of loan installments | installment

Borrowings Term

10 years

Grace period at start of loan

3 years

Amortized cost

$ 61,815,000

$ 55,004,000

€ 54,578

€ 44,824

Ferroatlantica, S.A.U. | Loan Number 2

Financial risk management

Loans received | €

€ 26,909

Repayment of debt | €

€ 26,909

FerroPem, S.A.S. | Loan with BNP Paribas

Financial risk management

Principal amount | €

€ 4,456

Fixed Interest Rate

0.00%

Percentage of capital borrowed

0.50%

FerroPem, S.A.S. | Minimum | Loan with BNP Paribas

Financial risk management

Additional amortization period

1 year

FerroPem, S.A.S. | Maximum | Loan with BNP Paribas

Financial risk management

Additional amortization period

5 years

Commitment amount | €

€ 22

Silicium Qubec | Financial Loans With Governments Agencies

Financial risk management

Principal amount

$ 7,000,000

Fixed Interest Rate

0.00%

Number of loan installments | installment

Borrowings Term

10 years

Grace period at start of loan

3 years

Grupo Ferroatlntica, S.A.U. and Grupo Ferrotlantica de Servicios, S.L.U., | Sociedad Estatal de Participaciones Industriales loan

Financial risk management

Principal amount | €

€ 34,500

[1]

While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Financial risk management - Int

Financial risk management - Interest-bearing financial liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial instruments by type of interest rate [line items]
Borrowings	$ 98,967	$ 107,607
Obligations under finance leases	18,358	22,536	$ 25,872
Debt instruments	440,297	357,508
Other financial liabilities	4,549	29,094
Interest rate risk
Disclosure of financial instruments by type of interest rate [line items]
Borrowings	98,967	107,607
Obligations under finance leases	18,358	22,537
Debt instruments	440,297	357,508
Other financial liabilities	67,013	63,896
Interest-bearing financial liabilities	$ 624,635	551,548
Increase in floating interest rate, Percentage	1.00%
Additional borrowing cost if 1% increase in floating interest rate	$ 990	1,064
Interest rate risk \| Fixed rate
Disclosure of financial instruments by type of interest rate [line items]
Debt instruments	440,297	357,508
Other financial liabilities	67,013	63,896
Interest-bearing financial liabilities	507,310	421,404
Interest rate risk \| Floating rate
Disclosure of financial instruments by type of interest rate [line items]
Borrowings	98,967	107,607
Obligations under finance leases	18,358	22,537
Interest-bearing financial liabilities	$ 117,325	$ 130,144

Financial risk management - For

Financial risk management - Foreign currency risk (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Feb. 15, 2017
Disclosure of nature and extent of risks arising from financial instruments [line items]
Percentage of sensitivity of currency, appreciation or depreciation	10.00%
Sensitivity depreciation or depreciation impact on on increase (decrease) the net profit before tax	$ 35,310
Senior Notes due 2022 issued by Ferroglobe PLC \| Foreign currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Principal amount		$ 150,000

Financial risk management - Liq

Financial risk management - Liquidity risk (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Net undiscounted cash flows
Payable to non-current asset suppliers	$ 2,812	$ 2,763
Liquidity risk
Net undiscounted cash flows
Bank borrowings	99,569	113,890
Finance leases	18,529	24,024
Debt instruments	588,774	399,219
Financial loans from government agencies	68,417	68,656
Payables to related parties	9,545	3,196
Payable to non-current asset suppliers	2,812	2,763
Contingent consideration	30,551	25,116
Tolling agreement liability	29,287
Trade and other payables	206,000	149,201
Contractual undiscounted payments	1,053,484	786,065
Not later than one year \| Liquidity risk
Net undiscounted cash flows
Bank borrowings	95,899	108,613
Finance leases	8,092	8,796
Debt instruments	57,440	32,813
Financial loans from government agencies	63,868	36,672
Payables to related parties	9,545	3,196
Payable to non-current asset suppliers	2,677	130
Contingent consideration	13,023	1,772
Tolling agreement liability	2,589
Trade and other payables	206,000	149,201
Contractual undiscounted payments	459,133	341,193
Later than one year and not later than two years \| Liquidity risk
Net undiscounted cash flows
Bank borrowings		5,277
Finance leases	5,897	6,350
Debt instruments	37,749	366,406
Financial loans from government agencies	4,304	7,209
Payable to non-current asset suppliers	135	2,633
Contingent consideration	10,684	4,175
Tolling agreement liability	2,367
Contractual undiscounted payments	61,136	392,050
Later than two years and not later than five years [member] \| Liquidity risk
Net undiscounted cash flows
Bank borrowings	3,670
Finance leases	3,251	7,130
Debt instruments	493,585
Financial loans from government agencies	245	18,274
Contingent consideration	6,844	15,892
Tolling agreement liability	5,952
Contractual undiscounted payments	513,547	41,296
Later than five years \| Liquidity risk
Net undiscounted cash flows
Finance leases	1,289	1,748
Financial loans from government agencies		6,501
Contingent consideration		3,277
Tolling agreement liability	18,379
Contractual undiscounted payments	$ 19,668	$ 11,526

Financial risk management - Cha

Financial risk management - Changes in liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Changes in liabilities arising from financing activities [abstract]
Beginning of period	$ 551,547	$ 606,362
Changes from financing cash flows	14,207	(106,862)
Effect of changes in foreign exchange rates	37	16,682
Changes in fair value	6,462	(14,329)
Interest expense	42,304
Other changes	10,078	49,694
End of period	624,635	551,547	$ 606,362
Other amounts paid due to financing activities	(3,755)	(6,471)
Cash flows from (used in) financing activities	10,452	(113,333)	(224,005)	[1]
Interest paid	16,705
Proceeds from debt issuance	60,000
Share issuance costs	43,755
Proceeds from equity issuance	40,000
Bank borrowings.
Changes in liabilities arising from financing activities [abstract]
Beginning of period	107,607	158,998
Changes from financing cash flows	(15,604)	(67,343)
Effect of changes in foreign exchange rates	1,927	10,295
Other changes	5,037	5,657
End of period	98,967	107,607	158,998
Obligations under leases
Changes in liabilities arising from financing activities [abstract]
Beginning of period	22,536	25,873
Changes from financing cash flows	(11,232)	(10,315)
Effect of changes in foreign exchange rates	(1,188)	1,608
Other changes	8,242	5,370
End of period	18,358	22,536	25,873
Debt instruments
Changes in liabilities arising from financing activities [abstract]
Beginning of period	357,508	354,952
Changes from financing cash flows	43,295	(32,812)
Changes in fair value	6,462
Interest expense	36,233
Other changes	(3,201)	35,368
End of period	440,297	357,508	354,952
Financial loans from government agencies
Changes in liabilities arising from financing activities [abstract]
Beginning of period	63,896	56,939
Changes from financing cash flows	(2,252)
Effect of changes in foreign exchange rates	(702)	4,865
Interest expense	6,071
Other changes		2,092
End of period	$ 67,013	63,896	56,939
Derivative financial instruments
Changes in liabilities arising from financing activities [abstract]
Beginning of period		9,600
Changes from financing cash flows		3,608
Effect of changes in foreign exchange rates		(86)
Changes in fair value		(14,329)
Other changes		$ 1,207
End of period			$ 9,600

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Fair value measurement - Estima

Fair value measurement - Estimate of fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other financial asset
Other financial assets.	$ 4,195	$ 6,065
At fair value
Other liabilities
Contingent consideration in a business combinations	(26,527)	(16,632)
Level 3 of fair value hierarchy \| At fair value
Other liabilities
Contingent consideration in a business combinations	(26,527)	(16,632)
Equity securities \| At fair value
Other financial asset
Other financial assets.	847	2,609
Equity securities \| Level 1 of fair value hierarchy \| At fair value
Other financial asset
Other financial assets.	$ 847	$ 2,609

Fair value measurement - Signif

Fair value measurement - Significant unobservable inputs (Details) - Recurring - Level 3 of fair value hierarchy - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in fair value measurement, liabilities [abstract]
Fair value, Beginning balance	$ (16,632)	$ (21,965)
Changes in fair value through profit or loss	(13,168)	5,333
Payments	3,273
Fair value, Ending balance	$ (26,527)	$ (16,632)

Non-current assets held for s_3

Non-current assets held for sale and discontinued operations - Discontinued operations (Details) - USD ($) $ in Thousands	Aug. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of analysis of single amount of discontinued operations [line items]
Gain on disposal of discontinued operation		$ (5,399)	$ 85,101	[1]
Spanish Hydroelectric Business, Disposal Group And Discontinued Operation
Disclosure of analysis of single amount of discontinued operations [line items]
Purchase price adjustment on sale		5,399
Cash proceeds	$ 177,627
Gain on disposal of discontinued operation	$ 85,102	$ (5,399)	$ 85,102

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Non-current assets held for s_4

Non-current assets held for sale and discontinued operations - Profit and loss (Details) - USD ($) $ in Thousands	Aug. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Profit (loss) [abstract]
Sales		$ 1,778,908	$ 1,144,434	$ 1,615,222
Raw materials and energy consumption for production		(1,184,896)	(835,486)	(1,214,397)
Other operating income		110,085	33,627	54,213
Staff costs		(280,917)	(214,782)	(285,029)
Other operating expense		(296,809)	(132,059)	(225,705)
Depreciation and amortization charges, operating allowances and write-downs		(97,328)	(108,189)	(120,194)
Operating (loss) profit		31,386	(184,350)	(355,586)
(Loss) profit before tax		$ (119,936)	(222,420)	(411,818)
Gain on sale of discontinued operation			(5,399)	85,101	[1]
(Loss) profit after taxes from discontinued operations			(5,399)	84,637
Spanish Hydroelectric Business, Disposal Group And Discontinued Operation
Profit (loss) [abstract]
Sales				13,164
Raw materials and energy consumption for production				(271)
Other operating income				365
Staff costs				(1,450)
Other operating expense				(1,995)
Depreciation and amortization charges, operating allowances and write-downs				(2,830)
Operating (loss) profit				6,983
Net finance expense				(6,433)
(Loss) profit before tax				550
Income tax expense				(1,015)
Gain on sale of discontinued operation	$ 85,102		(5,399)	85,102
(Loss) profit after taxes from discontinued operations			$ (5,399)	$ 84,637

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Non-current assets held for s_5

Non-current assets held for sale and discontinued operations - EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
(Loss) profit after taxes from discontinued operations		$ (5,399)	$ 84,637
Denominator:
Weighted average basic shares outstanding	176,508,144	169,269,281	169,152,905
Basic (loss) earnings per ordinary share - discontinued operations (US$)		$ (0.03)	$ 0.50
Numerator:
(Loss) profit after taxes from discontinued operations		$ (5,399)	$ 84,637
Denominator:
Weighted average basic shares outstanding	176,508,144	169,269,281	169,152,905
Weighted average dilutive shares outstanding	176,508,144	169,269,281	169,152,905
Diluted earnings (loss) per share from discontinued operations		$ (0.03)	$ 0.50
Spanish Hydroelectric Business, Disposal Group And Discontinued Operation
Numerator:
(Loss) profit after taxes from discontinued operations		$ (5,399)	$ 84,637
Denominator:
Weighted average basic shares outstanding		169,269,281	169,152,905
Basic (loss) earnings per ordinary share - discontinued operations (US$)		$ (0.03)	$ 0.50
Numerator:
(Loss) profit after taxes from discontinued operations		$ (5,399)	$ 84,637
Denominator:
Weighted average basic shares outstanding		169,269,281	169,152,905
Effect of dilutive securities	0	0	0
Weighted average dilutive shares outstanding		169,269,281	169,152,905
Diluted earnings (loss) per share from discontinued operations		$ (0.03)	$ 0.50

Non-current assets held for s_6

Non-current assets held for sale and discontinued operations - Cash flows (Details) - USD ($) $ in Thousands	Aug. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Profit (loss)		$ (115,374)	$ (249,758)	$ (285,640)	[1]
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:
Income tax expense (benefit)		(4,562)	21,939	(40,528)	[1]
Depreciation and amortization charges, operating allowances and write-downs		97,328	108,189	123,024	[1]
Gain on disposal of discontinued operations			5,399	(85,101)	[1]
Changes in operating assets and liabilities:
Decrease (increase) in inventories		(60,296)	114,585	91,531	[1]
Other, net		29,803	14,473	(45,878)	[1]
Income tax paid		(3,794)	11,831	(3,589)	[1]
Net cash provided by (used in) operating activities		(1,341)	154,268	(31,194)	[1]
Payments due to investments:
Property, plant and equipment		(27,597)	(30,257)	(32,445)	[1]
Net cash provided (used) by investing activities		(23,848)	(31,940)	165,910	[1]
Cash flows from financing activities:
Other inflows (outflows) of cash, classified as financing activities			(2,863)	(8,526)	[1]
Net cash provided (used) by financing activities		10,452	(113,333)	(224,005)	[1]
Total net cash flows for the year		(14,737)	8,995	(89,289)	[1]
Beginning balance of cash and cash equivalents		102,714
Ending balance of cash and cash equivalents		$ 114,391	102,714
Spanish Hydroelectric Business, Disposal Group And Discontinued Operation
Cash flows from operating activities:
Profit (loss)			(5,399)	84,637
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:
Income tax expense (benefit)				1,015
Depreciation and amortization charges, operating allowances and write-downs				2,830
Net finance expense				6,433
Gain on disposal of discontinued operations	$ (85,102)		5,399	(85,102)
Changes in operating assets and liabilities:
Decrease (increase) in trade and other receivables				(10,341)
Decrease (increase) in inventories				2
Increase (Decrease) in accounts payable				89
Other, net			(24)	69,243
Interest paid				(2,307)
Net cash provided by (used in) operating activities			(24)	66,499
Payments due to investments:
Property, plant and equipment				(126)
Net cash provided (used) by investing activities				(126)
Cash flows from financing activities:
Other inflows (outflows) of cash, classified as financing activities				(66,457)
Net cash provided (used) by financing activities				(66,457)
Total net cash flows for the year			(24)	(84)
Beginning balance of cash and cash equivalents			$ 24	108
Ending balance of cash and cash equivalents				$ 24

[1]	While in periods prior to 2020 Ferroglobe presented interest paid as cash flows from operating activities, in 2020 management deemded interest paid as among activities that alter the borrowing structure of the Company and therefore are most appropriately presented as among financing activities. This change allows for a fairer presentation of cash flow to users of the financial statements.

Events after the reporting pe_2

Events after the reporting period (Details) € in Thousands	Mar. 30, 2022itememployee	Feb. 28, 2022EUR (€)	Feb. 16, 2022EUR (€)
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales
Events after the reporting period
Principal amount		€ 34,500
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Sociedad Estatal de Participaciones Industriales loan
Events after the reporting period
Principal amount			€ 34,500
Additional interest rate payable			1.00%
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Sociedad Estatal de Participaciones Industriales loan \| Loan with fixed interest rate
Events after the reporting period
Principal amount			€ 16,900
Interest rate (as a percent)			2.00%
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Sociedad Estatal de Participaciones Industriales loan \| Loan With Variable Interest Rate [Member]
Events after the reporting period
Principal amount			€ 17,600
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Sociedad Estatal de Participaciones Industriales loan \| Interest rate spread, first year \| LIBOR
Events after the reporting period
Applicable margin (as a percent)			2.50%
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Sociedad Estatal de Participaciones Industriales loan \| Interest rate spread, second and third years \| LIBOR
Events after the reporting period
Applicable margin (as a percent)			3.50%
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Sociedad Estatal de Participaciones Industriales loan \| Interest Rate Spread, Fourth Year [Member] \| LIBOR
Events after the reporting period
Applicable margin (as a percent)			5.00%
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Loan maturing in February 2025
Events after the reporting period
Principal amount			€ 17,250
Approval of spanish fund by Sociedad Estatal de Participaciones Industriales \| Loan maturing in June 2025
Events after the reporting period
Principal amount			€ 17,250
Agreement with the French Works Council
Events after the reporting period
Number of jobs under restructuring program \| item	355
Number of jobs termination under restructuring agreement \| item	195
Number of employees transferred under restructuring agreement \| employee	35