Swiss-headquartered miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its production results for the first quarter of 2023.
In the first quarter this year, the company’s iron ore production decreased by 64.8 percent year on year, due to the negative effects of the Russian invasion, and was up by 108.7 percent compared to the previous quarter to 954,000 mt. In particular, the company’s output of pellets totaled 901,000 mt, increasing by 116 percent quarter on quarter, reflecting an easing of operational constraints, and was down by 66.7 percent year on year.
Ferrexpo’s output of pellets from iron ore with 65 percent Fe content totaled 901,000 mt, down 66.7 percent year on year and up 116 percent compared to the fourth quarter.
In addition, the company intends to continue to operate with between one and two pellet lines in the coming quarter, assuming no further material changes to the operating environment and logistics availability in Ukraine.
