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Ferrexpo production flat in Q1 amid ongoing pelletiser upgrade work
StockMarketWire.com
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Iron ore miner Ferrexpo reported flat production in the first quarter of the year as ongoing pelletiser upgrade work weighed on output.
Iron ore pellet production was 2.8 million tonnes, representing a year on year result in line with pellet production in 1Q 2020, and 12% below 4Q 2020, reflecting ongoing pelletiser upgrade work, the company said.
Production of high-quality pellets represented 100% of total output in 1Q 2021, up from 97%.
Upgrade work was completed on one pelletiser line in 1Q 2021 and further work underway in 2Q 2021.
Pelletiser capacity is expected to increase by 0.5-to-1.0 million tonnes per annum following completion of this work, it added.
Story provided by StockMarketWire.com
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