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 2023.
In the second quarter this year, the company’s iron ore production moved down by 44.2 percent year on year and up by 22.8 percent compared to the previous quarter to 1.17 million mt. In particular, the company’s output of pellets totaled 1.06 million mt, increasing by 18.3 percent quarter on quarter and down by 49.0 percent year on year.
In the first half, Ferrexpo’s iron ore production totaled 2.12 million mt, up by 59.2 percent, while its pellet output was 1.96 million mt, increasing by 56.6 percent, both year on year.
The company’s sales continued to be exported by rail and barge to eastern Europe and the Black Sea despite challenging war conditions. Ferrexpo’s sales in the second quarter totaled 1.2 million mt, up by 45 percent quarter on quarter and came to 2.1 million mt in the first half, increasing by 15 percent compared to the second half of 2022.
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.