Ferrexpo to increase pellet production by 9.5% in 2020

In 2020, Ferrexpo Corporation plans to increase production of iron ore pellets by 9.5% to 11.5 million tons against the previous year,

reported Ferrexpo People.

Among other things, Ferrexpo plans to increase production of premium iron ore pellets by 8.6% against 2019, to 11.08 million tons.

In 2020, the company plans to make a 100% shipment of raw materials under its current contracts.

In 2019, Ferrexpo Group decreased production of iron ore pellets by 0.8% against the previous year, to 10.5 million tons. Its pellet sales volume in 2019 amounted to around 10.3 million tons, up from 2018 (10.2 million tons).

Ferrexpo Group is the largest producer and exporter of iron ore pellets among the former Soviet Union countries. Its production assets include Poltava Mining and Yeristovo Mining.

Ferrexpo plc holds 100% of shares in Ferrexpo AG, which, in its turn, owns 100% of shares in Poltava Mining and 100% of shares in Yeristovo Mining.

As reported earlier, after the ratings upgrade by Moody’s and Fitch, Ferrexpo’s stock quotations on the London Stock Exchange grew from £1.438 up to £1.475.