Swiss-headquartered miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its production results for the fourth quarter and full year of 2024.
In the fourth quarter last year, the company’s iron ore production moved up by 26.9 percent compared to the previous quarter to 1.77 million mt. In particular, the company’s total output of pellets totaled 1.5 million mt, increasing by 18.4 percent quarter on quarter. In addition, in the given period, the company produced 1.2 million mt of premium pellet with 65 percent Fe content, 27.5 percent higher than in the third quarter.
Meanwhile, in 2024, Ferrexpo’s iron ore production totaled 6.89 million mt, up by 65.9 percent, while its total pellet output amounted to 6.07 million mt, increasing by 57.8 percent, both year on year. In addition, the company’s DR grade pellet production totaled 489,720 mt in 2024, a record annual level. The higher production results reflect the company’s ability to access Ukrainian Black Sea ports again and resume exports to customers in the MENA region and Asia.
The company successfully operated two pelletizing lines (out of four) during the quarter, despite disruptions to the energy grid, with a focus on higher quality pellets and high-grade concentrates.
