Ferrexpo plc (LSE: FXPO), a producer and exporter of premium iron ore pellets, is pleased to report production results for the first quarter to the end of March 2025 (“the quarter" or “1Q” or “1Q 2025”).
Highlights
- Ferrexpo remains committed to the safety and wellbeing of its workforce and the Group continues to take extensive measures to protect employees, their families, and local communities.
- At the end of February 2025, the Group reported a rolling 12-month LTIFR of 0.66, which was above the historic five-year trailing average of 0.52. Zero workplace fatalities reported for over four years.
- During the quarter the Group operated two pelletising lines (out of four) in addition to commercial concentrate production, however, due to the recently announced suspension of VAT refunds, operations have reduced to one pellet line.
- Record quarterly production since the start of the full-scale invasion in February 2022, totalling 2.1 million tonnes, comprising 1.3 million tonnes of pellets and 0.8 million tonnes of 67% Fe concentrate due to a strong increase in high grade concentrates sold to customers in Asia.
- Production of higher margin Ferrexpo DR pellets (FDP) continued during the quarter, albeit at a lower rate of 81k tonnes.
Link to full PDF version of this release: click here
For further information, please contact:
Ferrexpo:
Nick Bias
[email protected]
+44 (0)7733 177 831
Tavistock:
Jos Simson / Gareth Tredway
[email protected]
+44 (0)7899 870 450 / +44 (0)7785 974 264
About Ferrexpo:
About Ferrexpo: Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a listing in the equity shares commercial companies category on the London Stock Exchange (ticker FXPO) and a constituent of the FTSE 250 and FTSE4Good indices. 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 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. Before Russia’s full-scale invasion of Ukraine in February 2022, the Group was the world’s third largest exporter of pellets. The Group has a global customer base comprising of premium steel mills around the world. For further information, please visit www.ferrexpo.com.