Ferrexpo PLC Production Report for 3Q 2020 (1644B)

TIDMFXPO

RNS Number : 1644B

Ferrexpo PLC

06 October 2020

Ferrexpo plc

Production Report for 3Q 2020

6 October 2020

Ferrexpo plc

("Ferrexpo", the "Group" or the "Company") Production Report for 3Q 2020

Summary:

-- COVID-19 update: Ferrexpo's operations continued to operate with minimal impact during 3Q 2020 due to the global COVID-19 pandemic. The Company continues to ensure all appropriate precautions are being followed for the health and wellbeing of its workforce, including the Company's own programmes testing for the COVID-19 virus and associated antibodies.

   --    9M 2020 pellet production up 3% to 8.1MT (9M 2019: 7.9MT). 

-- 3Q 2020 pellet production down 12% to 2.5MT (2Q 2020: 2.9MT), with reduced volume due to planned pelletiser maintenance in early September 2020.

   --    100% of production in 3Q 2020 comprised of high grade iron ore pellets (65% Fe and above). 

-- The Company's additional concentrator section was completed in 3Q 2020, with commissioning and ramp up of this additional processing capacity to progress in 4Q 2020.

 
 (000' tonnes, unless stated 
  otherwise)                     3Q 2020  2Q 2020   % Change  9M 2020  9M 2019   % Change 
                                 =======  =======             =======  ======= 
 Pellet production from own 
  ore                              2,537    2,873       -12%    8,134    7,891        +3% 
 Comprised of: 
   - 62% Fe pellets                    -       25         --       98      311       -68% 
   - 65% Fe and above pellets*     2,537    2,848       -11%    8,036    7,580        +6% 
-------------------------------  -------  -------  ---------  -------  -------  --------- 
 

* Includes trial shipment of Ferrexpo Direct Reduction pellets (67% Fe) in 1H 2020.

Note: no pellet production from third party materials in 2019 or 2020.

For further information, please contact:

 
 
     Ferrexpo: 
   Rob Simmons        [e-mail]    [phone] 
   Maitland/AMO: 
   James Isola        [e-mail]    [phone] 
 
 

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 40 years. In 2019, the Group produced 10.5 million tonnes of pellets ranking it as the world's 3(rd) largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

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October 06, 2020 02:00 ET (06:00 GMT)