Swiss-headquartered miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its production results for the first quarter of 2025.
In the first quarter this year, the company’s iron ore production increased by 3.4 percent year on year and was up by 20.1 percent compared to the previous quarter to 2.12 million mt, achieving its best quarterly production since Russia’s invasion of Ukraine in 2022.
In addition, the company’s output of pellets totaled 1.34 million mt, decreasing by 10.3 percent quarter on quarter and was down by 25.7 percent year on year. In particular, Ferrexpo’s output of pellets from iron ore with 65 percent Fe content totaled 1.1 million mt, down 36.2 percent year on year and down 8.2 percent compared to the fourth quarter last year.
According to its statement, during the quarter the company operated two pelletizing lines (out of four), but, due to the recently announced suspension of VAT refunds, operations have now been reduced to one pelletizing line.
