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 this year.
In the third quarter this year, the company’s iron ore production increased by six percent year on year and was down by nine percent compared to the previous quarter to 2.68 million mt. In particular, the company’s output of pellets totaled 2.59 million mt, decreasing by nine percent quarter on quarter and up by two percent year on year, reflecting strong production performance following pelletizer upgrade work completed in previous quarters. Ferrexpo’s output of pellets from iron ore with 65 percent Fe content totaled 2.40 million mt, down five percent year on year and down 13 percent compared to the second quarter. Upgrade work on the company’s fourth pelletizer line was completed during September.
In the first nine months this year, the company’s iron ore production increased by three percent year on year to 8.39 million mt, while its pellet production rose by 0.3 percent to 8.16 million mt. In the given period, Ferrexpo’s output of pellets from iron ore with 65 percent Fe content totaled 7.83 million mt, up 0.3 percent year on year.
Ferrexpo stated that the proportion of direct reduction 67 percent Fe pellets increased to eight percent of its total pellet production during the period.
The company also recorded further production of 85,000 mt of high-grade concentrate for sale in the third quarter, reflecting the company’s recent investment in its concentrate stockyard project.
