Ferrexpo increases annual pellet production from own ore

Ferrexpo, the FTSE 250 iron ore company with assets in Ukraine, has posted a 2.6 per cent increase in annual pellet production from own ore at 9.3m tonnes, compared to 9.1m tonnes in 2011.

Total pellet production in 2012 was 9.7m tonnes, down 0.1m tonnes compared to 2011, which it attributed to lower purchases of third party concentrate.

The group said that average pellet iron content from own ore for 2012 was 63.42%, in line with the 63.50% reported the previous year.

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In the fourth quarter, the number of pellets produced totalled 2.5m tonnes, compared to 2.4m the previous quarter.

Total pellets from own production numbered 2.367m tonnes, down slightly from the 2.371m reported in the third quarter.

The share price rose 0.26% to 269.50p by 08:55.

NR