Swiss mining company Ferrexpo, whose main interests are related to Ukrainian iron ore assets, announced production results for the third quarter and nine months of 2026.
In the third quarter of this year, the company's total commercial production decreased by 19.0 percent compared to the second quarter to 779,975 tons. In particular, the company's pellet production amounted to 656,650 units, having decreased by 23.6% over the past year. квартал
In the first nine months, Ferrexpo's total commercial production was 2.33 million tons, which is 53.9 percent less, while Pellet production amounted to 2.04 million tons, which is 27.3 percent less than last year.
In the third quarter, production of 67 percent direct recovery pellets decreased by 13.4 percent to 141,220 tons, while production of 65 percent premium pellets decreased by 26 percent to 515,430, both compared to the previous quarter. Meanwhile, in the period from January to September, Ferrexpo pellet production with a direct reduction of 67% from Fe pellets increased by 272.1% to 304,391 tons, while the production of premium pellets decreased by 65% by 36.3% to 1.74 million tons year-on-year.
Ferrexpo stated that the temporary suspension of production in August and the restart of one pellet production line in September contributed to the decline in quarterly production. In September, the company completed an equity raising of approximately $100 million after shareholder approval on September 21. According to Ferrexpo, the proceeds strengthened its balance sheet and allowed it to resume production activities.
Disruptions in logistics on the Black Sea continue to limit экспорт
Despite the resumption of production, Ferrexpo stated that its production figures remain significantly below the capacity they had before the war, due to limited access to Ukrainian ports and limited export opportunities.
The company also said that negotiations on the provision of guaranteed trade finance are at an advanced stage. However, disruptions on the Black Sea export route delayed the conclusion of final agreements, as they affect the company's ability to supply goods in accordance with the relevant sales contract.
There are no comments yet.