IRC Ltd, the iron ore division of Petropavlovsk Plc, which operates gold deposits in Russia, raised its iron ore concentrate output by 12.5% QoQ, to 695,431 tons, in October-December 2019, the company said in a statement January 23.
In 2019, production rose by 15.3% YoY, to 2.576 million tons.
Sales of iron ore concentrate went up by 3.6% QoQ, to 623,335 tons, in October-December 2019, and rose by 10.8%, to 2.464 million tons in 2019.
Unaudited remainder of cash and deposits of IRC amounted to about $4.3 million as of the end of 2019, with the company’s total debt standing at $224.5 million. (Prime/Ukrainian metal)