Ferrexpo iron ore pellet production grows in Q3
By Iain Gilbert
Date: Wednesday 06 Oct 2021
(Sharecast News) - Mining company Ferrexpo said on Wednesday that iron ore pellet production had grown in the third quarter.
Ferrexpo stated total iron ore pellet production was up 2% year-on-year at 2.6m tonnes, reflecting a "strong production performance" following pelletiser upgrade work undertaken by the firm in previous quarters.
On the other hand, production volumes were 9% lower on a quarter-on-quarter basis as a result of further pelletiser upgrade work completed during the quarter and planned pelletiser maintenance in September.
High-grade iron ore represented 100% of production in the quarter, while the proportion of higher-grade direct reduction pellets increased to 8% of total pellet production during the period.
Interim chief executive Jim North said: "I am pleased to report our continued progress in terms of product quality and product volumes, with upgrade work completed on the pelletiser during the quarter.
"Through continued investment in the group's concentrator and pelletiser facilities, we are creating a platform for future growth in product volumes, whilst simultaneously increasing the overall grade of our production."
As of 0905 BST, Ferrexpo shares were down 1.03% at 307.60p.
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