The Company’s output remained flat since last year
In January–April, the Ferrexpo Group cut production of iron ore pellets by 0.2% to 3.7 million tons compared to the same period a year earlier, according to Interfax-Ukraine.
In April, the Company produced 960 thousand tons of iron ore pellets.
Importantly, the Company is expecting an increase in production of iron ore pellets in H2 2021 following the modernization of production facilities scheduled for H1. Production output is expected to increase by 0.5–1 million tons per annum due to the upgrade.
The Group is also going to introduce additional volumes of iron ore concentrate into the market to be sold in 2021, resulting from the investment made in 2020 with the purpose to expand the Group’s processing capacities.
Ferrexpo is a Swiss-based mining company with iron ore assets in Ukraine. It produces and exports high-quality iron ore pellets for steel production. The Company is the largest producer and exporter of iron ore pellets among the countries of the former Soviet Union.
Its production assets include Poltava Mining and Yeristovo Mining (holding a 100% stake each).
In 2020, Ferrexpo increased production of iron ore pellets by 7% to 11.2 million tons. The Company sold 12.1 million tons of iron ore pellets in 2020, 17% up from 2019.