Ferrexpo plc, whose main assets are Ukrainian iron ore producers Poltava and Yeristovo Mining and Processing Works (PGOK and EGOK respectively), edged commercial iron ore pellet production down by 0.16% YoY in February, to 1.875 million tons.
The international rating agency Fitch has given Ferrexpo eurobonds a rating of CCC.
In January Ferrexpo plc, controlling Poltava and Yeristovo Mining and Processing Works (PGOK and EGOK), increased its pellets output by 2.5%, to 1.01 million tons, YoY. At the same time concentrate production went down by 4.5%, to 1.143 million tons.
January-September 2014 UK-based Ferrexpo Plc, controlling Poltava Mining and Processing Works, finished with the profit of $150.15 million.
In 2014 Ferrexpo plc, owner of the Poltava and Yeristovo Mining and Processing Works (PGOK and EGOK), increased its output of pellets of its own raw materials by 2%, to 10670.54 thousand tons, and those of purchased raw materials – by 1%, to 350.86 thousand tons, all YoY.
Ferrexpo said its output went down in December 2014 due to limitations of electricity supplies to its companies. Spot sales of iron ore also fell. If things don’t change in Q1 2015, Ferrexpo will choose long-term contracts as its priority.
Ukrainian iron ore pellet producer Ferrexpo PLC (FEEXF) said Tuesday it has produced a record annual output of iron ore pellets, a high quality raw material used in steel making.
Ukrainian iron ore miner Ferrexpo has cut its December production outlook due to lower power supplies and will reduce spot sales to give priority to long-term contracts if the situation continues in the first quarter of 2015.
