Ferrexpo’s Ukrainian iron ore subsidiary operates at full capacity

Swiss-headquartered resources company Ferrexpo has stated that the year has started well with Ferrexpo Poltava Mining continuing to operate at full capacity. The company stays on track to increase production to 12 million mt of pellets per year in 2014.
 
In the first four months of 2012, the company's own ore pellet production increased by 6.2 percent compared to the same period of 2011. Sales volumes amounted to 3 million mt, remaining in line with the first four months of 2011 and the average selling price was 9 percent lower reflecting customer mix and lower market prices. The company also stated that it continues to receive good demand for its iron ore pellets.
 
Meanwhile, a further hearing regarding the shareholding dispute over Ferrexpo's Ukranian iron ore deposit Ferrexpo Poltava is scheduled for June 12, 2012. While Ferrexpo claims to own almost the entire shareholding, former shareholders claim to have a 40 percent stake.