https://www.miningweekly.com
Flow|Iron Ore|Flow
Flow|Iron Ore|Flow
flow-company|iron-ore|flow-industry-term

Ferrexpo lifts first-half production by 5% y/y

5th July 2019

By: Nadine James

Features Deputy Editor

     

Font size: - +

Swiss-based Ferrexpo increased its iron-ore pellet production for the second quarter by 11% quarter-on-quarter to 2.8-million tonnes.

Half-year production was up 5% year-on-year to 5.4-million tonnes.  

The group remains on track to meet its full-year production guidance of 10.6-million tonnes.  

Ferrexpo noted in a trading update published on Friday that first-half sales volumes were expected to increase by about 4% year-on-year to five-million tonnes.

It pointed out that it had, during the first six months of this year, continued to generate strong cash flow, owing to a 29% year-on-year increase in the average received price, reflecting stronger iron-ore prices and premiums.

The average cash cost of production in the first half is expected to be around $46/t compared with $43/t in the first half of 2018 – primarily owing to Ukrainian inflation and the strong Ukrainian hryvnia against the dollar.

Net debt as at June 30, was about $277-million, down from $339-million as at December 31, 2018.

The group's cash balance is around $90-million and it has undrawn debt facilities amounting to $40-million. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest Multimedia

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 2 hours 32 minutes ago By: Martin Creamer

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.185 0.224s - 103pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: