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 2025.
In the fourth quarter last year, the company’s total commercial production moved down by 28.9 percent compared to the previous quarter to 1.07 million mt, while its total output of pellets amounted to 412,867 mt, decreasing by 35.4 percent quarter on quarter.
Meanwhile, in 2025, Ferrexpo’s total commercial production came to 6.14 million mt, down by 9.4 percent, more than 50 percent of its pre-war capacity despite all of the challenges faced due to the war, while its total pellet output amounted to 3.22 million mt, decreasing by 46.9 percent, both year on year. In addition, the company’s DR grade pellet production totaled 81,787 mt in 2025.
According to the company’s statement, towards the end of the quarter the intensity and frequency of missile and drone attacks on Ukraine’s energy, transport and port infrastructure increased. The interruption to power supplies and logistics channels resulted in the fourth quarter production being below plan.
Commenting on the company’s performance, Lucio Genovese, interim executive chair, said, “The final quarter of 2025 was one of the hardest quarters for the business and our people since the full-scale invasion of Ukraine. Missile and drone attacks on regional energy infrastructure resulted in interruptions to the supply of power to our operations. Since December, however, our ability to export has been constrained because the Ukrainian Black Sea region was heavily attacked and, until repairs are conducted and safe maritime access restored, we are once again focused on exporting by rail.”
