9 Jan 2013 18:44

Ferrexpo cuts iron ore pellet output 1.2% in 2012

KYIV. Jan 9 (Interfax) - Ferrexpo plc, whose main asset is Ukrainian iron ore pellet producer Poltava Mining, reduced overall iron ore pellet production 1.2% in 2012 to 9.69 million tonnes due to lower purchases of third-party concentrate.

The company said in a statement that output of pellets from its own feedstock rose 2.6% to 9.3 million tonnes, but that output from third-party concentrate fell 47.9% to 389,100 tonnes.

The company produced 4.173 million tonnes with 65% Fe-content, down 13%, and 5.517 million tonnes with 62% Fe, up 10.1%. This included 4.118 million tonnes Fe-65% from the company's own feedstock, down 3.3%, and 5.183 million tonnes Fe-62% from its own feedstock, up 7.8%.

Crude iron ore production rose 0.4% last year to 29.76 million tonnes, and concentrate output rose 1.9% to 11.7 million tonnes.

Iron ore production grew 2.7% quarter-on-quarter in Q4 2012 to 7.29 tonnes and concentrate output was level with Q3 at 2.98 million tonnes. Production of 65%-pellets fell 6.4% to 959,000 and production of 62% pellets grew 12% to 1.575 million tonnes.

The London-listed Ferr