Business news from Ukraine

Business news from Ukraine

FERREXPO INCREASES PRODUCTION OF PELLETS BY 5.8% IN 2015

12 January , 2016  

KYIV. Jan 12 (Interfax-Ukraine) – British Ferrexpo Plc, which controls Poltava and Yerystove mining and processing plants (Poltava GOK, YeGOK) in Ukraine, in 2015 increased production of commodity pellets by 5.8% compared to 2014, to 11.662 million tonnes.

According to the company, production of pellets using own ore increased by 5.5%, to 11.258 million tonnes, ore from third parties by 14.9%, to 403,150 tonnes.

Ferrexpo said that production of higher-quality pellets with an iron content of 65% (65% Fe) in 2015 grew by 78.6%, to 10.366 million tonnes, or 87% of total production, in particular using own ore by 79.8%, to 9.969 million tonnes, ore from third parties by 53.5%, to 397,190 tonnes. This is the company’s record annual rate of premium pellets production.

Production of pellets with a 62% iron content in 2015 amounted to 1.295 million tonnes (down by 24.8%).

According to the report, in the fourth quarter of 2015 compared to the previous quarter pellets output increased by 4.3%, to 2.984 million tonnes, in particular using own ore by 5.5%, to 2.954 million tonnes. During this period, output of pellets containing 65% Fe rose by 14%, to 2.827 million tonnes, in particular from own ore by 15.6%, to 2.797 million tonnes.

The company notes that the figures for the fourth quarter are record high for the production of high quality pellets containing 65% Fe, while in the third quarter of 2015 the company produced 5.8 million tonnes of these products.