Mining company Ferrexpo plc with assets in Ukraine produced 3.218 million tons of pellets in January-September this year, down 42.9% year-on-year (5.637 million tons).
According to the company’s announcement on Thursday, pellet production in the third quarter of 2023 increased by 17% to 1.251 million tons compared to the previous quarter.
In 2023, only pellets with an iron content of 65% were produced.
At the same time, the total production of marketable products (pellets and iron ore concentrate) for 9 months of this year amounted to 3.475 million tons. Including the production of commercial concentrate in January-September 2023 amounted to 257 thousand tons.
As reported, in 2022, Ferrexpo produced 6.053 million tons of pellets, which is 46% less than in 2021. At the same time, pellet production in the fourth quarter of 2022 decreased by 86% compared to the fourth quarter of 2021, and by 50% to 417 thousand tons by September-December 2022.
In 2022, production of premium pellets with 65% iron content amounted to 5.7 million tonnes (down 47%), including 417 thousand tonnes in the fourth quarter (down 28% quarter-on-quarter and 86% year-on-year). Last year’s production of direct reduced iron pellets (DRI, 67% iron) amounted to 353 thousand tons (down 18% by 2021), which were not produced in the fourth quarter of 2022.
No pellets with 62% iron content were produced in 2022.
At the same time, the total production of commercial products (pellets and iron ore concentrate) in 2022 decreased by 46% to 6.177 million tons, in the fourth quarter compared to the third quarter – by 49%, and by Q4 2021 – by 85%, to 457 thousand tons. In particular, the production of salable concentrate last year decreased by 47% to 124 thousand tons, including 40 thousand tons in the fourth quarter of 2022 (down 38% quarter-on-quarter and up 3% year-on-year).
Total annual sales in 2022 amounted to 6.2 million tons, down 46% compared to 2021.
Ferrexpo is an iron ore company with assets in Ukraine.
Ferrexpo owns 100% of Yeristovo Mining, 99.9% of Bilanivsky GOK and 100% of Poltava Mining.
