Ferrexpo reports 33% slump in annual iron-ore pellet production
Ferrexpo reported a 33% slump in annual production of iron-ore pellets on Thursday as the Ukraine-focused miner waded through a second year of disruptions caused by the Russian invasion.
The company, which has all its mines in Ukraine, reported total iron-ore pellet production of 4.1-million tons for the year ended December 31, compared with 6.1-million tons in the previous year.
London-listed shares of Ferrexpo were down 3.1% in early trade on Thursday.
Ferrexpo had lost access to the Black sea ports, which shipped half of its output before the war, restraining its access to sea-borne markets and forcing it to focus on sales to European customers.
Last year, Ukraine launched a "humanitarian corridor" for ships bound for African and Asian markets and opened certain ports.
Swiss-based Ferrexpo plans to resume trade via this route and start an additional pellet line.
"Even with winter setting in, we have been able to operate one, sometimes two, of our four pellet lines, to match the reduced export capacity available to us," interim executive chair Lucio Genovese said in a statement.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation