Swiss-headquartered miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its production results for the second quarter and the first half of 2025.
In the second quarter this year, the company’s iron ore production moved down by 24.2 percent year on year and by 40.4 percent compared to the previous quarter to 1.27 million mt. In particular, the company’s output of pellets totaled 821,882 mt, decreasing by 39.0 percent quarter on quarter and down by 44.6 percent year on year.
In the first half, Ferrexpo’s iron ore production totaled 3.93 million mt, down by 9.0 percent, while its pellet output was 2.17 million mt, down by 34.2 percent, both year on year.
According to the producer’s report, due to the ongoing suspension of VAT refunds and the resulting reduction in financial liquidity, Ferrexpo has been forced to downscale operations from two to one pelletising line and also to reduce the production of high-grade concentrate iron ore, resulting in lower performance in the given period.