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Ferrexpo Q3 Total Iron Ore Pellet Production Up YOY, Down Sequentially

Ferrexpo plc (FXPO.L), a Swiss iron ore company with assets in Ukraine, reported Wednesday that its third-quarter total iron ore pellet production increased 2 percent year on year to 2.6 million tonnes.

The result reflects strong production performance following pelletiser upgrade work completed in previous quarters.

Sequentially, pellet production volumes was 9 percent lower from the second quarter as a result of pelletiser upgrade work completed during the quarter, and planned pelletiser maintenance in September 2021.

Total commercial production, comprising pellets & concentrate, was 2.68 million tonnes, up 6 percent from last year, but down 9 percent sequentially.

Proportion of higher grade direct reduction pellets increased to 8 percent of total pellet production, compared to 3 percent in the prior period.

Jim North, Interim Group Chief Executive Officer, said, "Through continued investment in the Group's concentrator and pelletiser facilities, we are creating a platform for future growth in product volumes, whilst simultaneously increasing the overall grade of our production."

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