Ferrexpo PLC Operations Update (8078E)
01 November 2022 - 8:00AM
UK Regulatory
TIDMFXPO
RNS Number : 8078E
Ferrexpo PLC
01 November 2022
1 November 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Operations Update
Ferrexpo plc (LSE: FXPO), an exporter of high grade iron ore
pellets to the global steel industry, announces that following the
Group's press release on 11 October 2022, announcing a temporary
suspension of production as a result of Russian missile strikes on
state-owned electrical infrastructure, repair work has now
sufficiently progressed to allow for the partial resumption of
production activities at its operations in central Ukraine.
The supply of power to the Group's operations, however, remains
variable and limited, which has an impact on the cost effectiveness
of production. As a result, the Group is currently focused on
drawing down on its stockpiles of finished iron ore products to
maintain supplies to its customers, and the ability to utilise such
stockpiles has ensured a consistent supply to customers since the
events referenced above. The Group can confirm that it has
sufficient stockpiles to meet customer demand.
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson
Emily Moss +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as amended by The
Market Abuse (Amendment) (EU Exit) Regulations 2019. The person
responsible for making this notification is Mark Gregory, Company
Secretary.
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and a premium listing on the London Stock Exchange in
the FTSE 250 index (ticker FXPO). The Group produces high grade
iron ore pellets, which are a premium product for the global steel
industry and enable reduced carbon emissions and increased
productivity for steelmakers when the Group's iron ore pellets are
converted into steel, compared to more commonly traded forms of
iron ore. Ferrexpo's operations have been supplying the global
steel industry for over 50 years, and in 2021 the Group produced
11.2 million tonnes of iron ore pellets, placing Ferrexpo as the
world's third largest exporter of pellets to the global steel
industry with a market share of approximately 9%. The Group has a
global customer base comprising of premium steel mills around the
world, which includes steel mills in Austria, Germany, Japan, South
Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam
and America. For further information, please visit www.ferrexpo.com
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDEAXEFDLAAFFA
(END) Dow Jones Newswires
November 01, 2022 03:00 ET (07:00 GMT)
Ferrexpo (LSE:FXPO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Ferrexpo (LSE:FXPO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024