Ferrexpo PLC Production Report for 2Q 2021 (4224E)
07 Juli 2021 - 8:00AM
UK Regulatory
TIDMFXPO
RNS Number : 4224E
Ferrexpo PLC
07 July 2021
7 July 2021
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Production Report for 2Q 2021
Summary:
-- COVID-19 update: Ferrexpo's operations and logistics
continued to operate with minimal impact during 2Q 2021.
-- Total iron ore pellet production of 2.8 million tonnes ("Mt")
in 2Q 2021, representing a 5% increase quarter on quarter and in
line year on year (-0.8%), with quarterly growth reflecting the
successful completion of pelletiser upgrade work during the prior
period.
o Upgrade work on the third pellet line, out of four pellet
lines overall, completed at the end of June 2021.
o A final pelletiser line upgrade is planned for 3Q 2021, with
the Group's overall pelletiser capacity to increase by 0.5-1.0Mt
per annum following completion of this work.
-- Production of high-quality pellets (65% Fe and 67% Fe)
represented 100% of total pellet output in 2Q 2021 (2Q 2020:
99%).
-- The Group continues to develop its offering of direct
reduction ("DR") 67% Fe pellets, with this pellet type representing
the pathway to low-carbon steel production. In the first half of
2021, the Group signed its first long term contract for the supply
of DR pellets, with further trial shipments and samples for testing
dispatched to additional prospective customers.
-- Additional production of 85,000 tonnes of high-grade
concentrate for sale in 2Q 2021, relating to the commissioning and
ramp up of the Group's concentrate stockyard project, an investment
that enables the continued production of concentrate during periods
of pelletiser maintenance and upgrade work.
-- Total sales volumes of 5.6Mt in 1H 2021, broadly in line with
production for the period, and a 9% reduction year on year as a
result of the stockpile drawdown process carried out in 1H
2020.
(000' tonnes, unless Product 2Q vs 1Q vs 2Q 6M vs 6M
stated otherwise) Grade 2021 2021 2020 2021 2020
----------------------------- --------- ------ ------ ------- ------ -------
Total commercial production
(comprising pellets
& concentrate) 2,934 +6% +2% 5,712 +2%
Pellet production 2,849 +5% (0.8%) 5,563 (0.6%)
Pellet production comprised
of:
o Direct Reduction 67%
("DR") Pellets* Fe 85 +70% (13%) 135 (28%)
o Ferrexpo Premium 65%
Pellets Fe 2,764 +4% +0.5% 5,428 +2%
62%
o Ferrexpo Basic Pellets Fe - - (100%) - (100%)
Commercial concentrate 67%
production Fe 85 +31% - 149 -
----------------------------- --------- ------ ------ ------- ------ -------
Note: all production shown in table above from own ore; no
production from third party materials.
* Please note that the above figure for DR pellet production in
1Q 2021 has been adjusted to reflect an additional 14kt of
production in 1Q 2021, with production of 65% Fe production
adjusted down by the corresponding amount. The total volume of
pellet production remains unchanged for this period.
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson
Gareth Tredway +44 207 920 3150
Annabel de Morgan ferrexpo@tavistock.co.uk +44 778 855 4035
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine. It has been mining, processing and selling high quality
iron ore pellets to the global steel industry for over 40 years. In
2020, the Group produced 11.2 Mt of iron ore pellets, a 7% increase
on the prior year. The Company is ranked as the world's 3(rd)
largest exporter of pellets to the global steel industry with a
market share of approximately 9%. Ferrexpo has a diversified
customer base supplying steel mills in Austria, Germany, Japan,
South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey,
Vietnam and America. Ferrexpo has a premium listing on the main
market of the London Stock Exchange under the ticker FXPO. For
further information, please visit www.ferrexpo.com.
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