Ferrexpo posts rise in Q1 pellet production

FTSE 250 iron ore company Ferrexpo has reported a 10.1 per cent rise in first quarter pellet production compared to the same period in 2012.

FTSE 250 iron ore company Ferrexpo has reported a 10.1 per cent rise in first quarter pellet production compared to the same period in 2012.

Total production climbed to 2,485.7k tonnes in the first quarter, from 2,257.5k tonnes the same period the previous year, and 2,474.7k tonnes in the previous quarter.

The total number of pellets produced actually declined 4.4% year-on-year, and 8.8% quarter-on-quarter, to 2,157.6k.

However, total group was boosted by 62% iron pellets using ore mined from the new Ferrexpo Yeristovo Mining (FYM) open pit, the production of which rose 21.2% from 1,198.4k to 1,452.1k year-on-year.

NR

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