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Ferrexpo Announces 2019 AGM Statement

Mining News - Published on Tue, 11 Jun 2019

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Ferrexpo Group EBITDA in 1H 2019 is expected to increase materially compared with 1H 2018. Year to date, the improvement in profitability has been driven by higher pricing, production and sales volumes compared to 1H 2018. While the average C1 cost of production is likely to increase in 1H 2019 compared with 1H 2018, cost inflation has been lower than expected due to a fall in the Brent oil price and the European gas price partially offset by an appreciation of the Ukrainian Hryvnia versus the US Dollar.

Mr Steve Lucas, Chairman of Ferrexpo, said "Ferrexpo continues to be well positioned to supply a high quality iron ore product to the top steel mills in the world receiving a record price premium for its product. The Group’s balance sheet remains strong with net debt expected to further reduce compared to 31 December 2018.”

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Posted By : Rabi Wangkhem on Tue, 11 Jun 2019
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