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The Company increased its output 0.3% in 9M

According to a report published on the Group’s website, in Q3 2021, Ferrexpo cut iron ore pellet production by 9% to 2.6 million tons compared to the previous quarter, which is however 2% up from the same period of the previous year. In Q3, the Group’s companies produced 2.4 million tons of 65% Fe pellets (-13% against the previous quarter, -5% y-o-y) and 196 thousand tons of DR 67% Fe pellets (+130% against Q2).

In addition, the Group produced 85 thousand tons of 67% Fe commercial concentrate, 0.2% up from the previous quarter.

Total production output decreased by 9% to 2.68 million tons against Q2, but at the same time increased by 6% against the same period of the previous year.

“Production volumes are lower on a quarter on quarter basis as a result of pelletizer upgrade work completed during the quarter. Planned pelletizer maintenance and upgrade work on the Group’s fourth pelletizer line was completed during September 2021,” reads the Company’s report.

In January–September, total pellet production grew by 0.3% to 8.16 million tons y-o-y. Total production output grew by 3% to 8.39 million tons, including:

  • 7.83 million tons of 65% Fe pellets (-0.3% y-o-y);
  • 330 thousand tons of 67% Fe DR pellets (+76%);
  • 234 thousand tons of 67% Fe commercial concentrate (none was produced in 2020).

In 2020, Ferrexpo increased iron ore pellet production by 7% to 11.2 million tons y-o-y. Its pellet sales totaled around 12.1 million tons, 17% up from 2019.

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).