Ferrexpo iron ore production benefits from refurb
Ferrexpo increased production of iron ore pellets in the third quarter as it makes progress with refurbishing of its plant.
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Pellet production came in at 2.66m tonnes for the three months to the end of September, up 6% from the preceding quarter when it completed refurbishment of one of its four pellet lines.
For the first nine months of the year the Swiss-headquartered, Ukraine-based company has produced 7.76m tonnes of pellets, which is an increase of 1.4% on this time last year.
Ferrexpo is still in the middle of a maintenance programme across its pelletising facilities with the aim of producing 12m tonnes a year by 2020, a 1.5mt increase from 2017 levels.
A "significant" improvement in production is expected once the final pellet line has been refurbished in the second half of 2019 and the investment is completed to expand pellet feed production by 2020.