Swiss-headquartered miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its production results for the third quarter and the first nine months of 2023.
In the third quarter this year, the company’s iron ore production moved up by 15.1 percent compared to the previous quarter to 1.35 million mt. In particular, the company’s output of pellets totaled 1.25 million mt, increasing by 17.3 percent quarter on quarter.
In the first nine months, Ferrexpo’s iron ore production totaled 3.47 million mt, down by 39.2 percent, while its pellet output was 3.22 million mt, decreasing by 42.9 percent, both year on year.
“It is pleasing to report that our performance during the quarter exceeded our expectations and that we were able to operate up to two of our four pellet lines,” Lucio Genovese, interim executive chair of the company, commented regarding the results.
In addition, the company intends to continue to operate with between one and two pellet lines for the remainder of the year, assuming no further material changes to the operating environment and logistics availability in Ukraine.