Swiss-headquartered minerFerrexpo, whose main interests are in Ukrainian iron ore assets, has provided an update on its operations.
Accordingly, the company has resumed operations at its one pelletizer line, following its temporaryproductionsuspension as of October 11 following a number of Russian missile strikes acrossUkraine. This will allow the company, together with its stockpiled material, to meet the requirements of existing customer contracts.
As a result of interruptions and the continued instability within the state-owned electricity network that have been experienced in the fourth quarter of 2022, approximately 300,000 mt of pellets have been produced to date in the fourth quarter. The company’s total pelletproductionfor 2022 is therefore expected to be approximately 5.9-6.0 million mt.
Despiteproductioninterruptions,Ferrexpo’s shipments to customers during the fourth quarter have continued at a run rate of approximately 250,000 mt per month.