Ferrexpo cuts pellet production by 43% to 3.2 million tons over 9M

In January-September 2023, the Ferrexpo plc company (the United Kingdom), which controls the Poltava and Yeristovo Mining and processing plants (both in the Poltava Region), decreased the production of pellets by 43% year over year to 3.218 million tons.

This follows from a statement by the company, the Ukrainian News Agency reports.

All pellets were produced from ore with an iron content of 65%.

The company also produced 257,000 tons of concentrate (with 67% iron content).

In the third quarter of 2023, compared to the second quarter of 2023, the company increased the production of pellets by 17% to 1.251 million tons.

As the Ukrainian News Agency earlier reported, in 2022, Ferrexpo reduced the production of pellets by 46% year over year to 6.1 million tons.

In 2022, the company reduced its profit four times to USD 220 million, reducing its revenue twice to USD 1.25 billion.

The majority shareholder of the Ferrexpo group is businessman Kostiantyn Zhevaho.