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Ferrexpo Trading Update and 2019 Pellet Production

Mining News - Published on Tue, 14 Jan 2020

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Ferrexpo continued to generate strong margins in 2019 as higher realised prices of approximately 16% offset an increase in the Group’s C1 cash cost of production to c. US$48 per tonne (2018: US$43 per tonne). The cost increase was primarily driven by a strong local currency and domestic inflation.

2019 pellet production from own ore 10,519kt (2018: 10,506kt).

Production of high quality 65% Fe pellets from own ore up 3% in 2019 to 10,116kt (2018: 9,824kt).

Refurbishment of pelletising line number 2 completed in 4Q 2019. This is the final line refurbishment of the programme started in 2014.

2019 sales volumes approximately 10,300kt (2018:10,227kt).

Net debt as of 31 December 2019 was approximately US$282M (31 December 2018: US$340M). The Group’s cash balance as of 31 December 2019 was approximately US$131M (31 December 2018: US$62M).

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Posted By : Rabi Wangkhem on Tue, 14 Jan 2020
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