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 2022.
In the fourth quarter last year, the company’s iron ore production moved down by 85 percent year on year and by 49 percent compared to the previous quarter to 457,000 mt. In particular, the company’s output of pellets totaled 417,000 mt, decreasing by 50 percent quarter on quarter and by 86 percent year on year, due to the loss of electrical power for the majority of the quarter, in addition to existing constraints relating to the Russian invasion.
Meanwhile, in 2022, Ferrexpo’s iron ore production totaled 6.17 million mt, down by 46 percent, reflecting operational and logistical constraints throughout the year due to the war, while its pellet output amounted to 6.05 million mt, decreasing by 46 percent, both year on year.
In the given year, the company’s sales totaled 6.2 million, down by 46 percent year on year.