Ferrexpo iron ore production down, as expected
Ferrexpo, the Ukraine-based iron ore producer, reported first-half pellet production that was down slightly on this time last year.
Ferrexpo
81.30p
15:44 15/11/24
-2.28%
-1.90p
FTSE 250
20,508.75
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
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FTSE All-Share
4,411.85
15:45 15/11/24
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Industrial Metals & Mining
5,967.24
15:45 15/11/24
1.24%
72.81
Production in the second quarter of 2.5m tonnes was down 2.3% on the first quarter of the year.
After first-quarter production fell 7% on the preceding quarter, Ferrexpo, which mines its iron in the Poltava region of Ukraine and is headquartered in Switzerland, said first-half production of 5.08Mt was therefore down 1.1% on the 5.14Mt in the first half last year.
The lower pellet production so far in 2018 compared to last year reflects a planned 65-day refurbishment of one of its pellet lines, which the company had flagged up in April.