Ferrexpo sees decline in iron ore pellet production in Q2

Swiss-headquartered resources company Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced that in the second quarter of the current year its overall iron ore pellet production decreased by 5.3 percent year on year to 2.55 million mt.
 
In the second quarter, Ferrexpo's pellet production from its own raw materials decreased by 3.9 percent year on year, amounting to 2.5 million mt, while its pellet production from third party concentrate stood at 53,800 mt, falling 43.5 percent compared to the same quarter of the previous year.
 
Ferrexpo Yeristovo Mining's pellet production in the given quarter amounted to 847,200 mt, up 59.6 percent, while iron ore production from Ferrexpo Poltova Mining decreased by 20.2 percent to 1.65 million mt, both compared to the second quarter of 2013.
 
Ferrexpo stated that it completed a scheduled refurbishment of pellet line No. 3 in the second quarter, in a record six-week period and said it remains on track to achieve an annualized production rate of 12 million mt per year in the second half of 2014.