Ferrexpo PLC Operations Update (4449K)
21 12월 2022 - 4:00PM
UK Regulatory
TIDMFXPO
RNS Number : 4449K
Ferrexpo PLC
21 December 2022
21 December 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Operations Update
Ferrexpo plc (LSE: FXPO), a producer and exporter of high grade
iron ore pellets to the global steel industry, provides the
following update on its operations in central Ukraine. Subsequent
to the suspension of its operations in October 2022, the Group is
now receiving sufficient levels of power to bring one pelletiser
line back into operation. This will allow the Group, together with
its stockpiled material, to meet the requirements of existing
customer contracts.
As a result of interruptions, and continued instability, within
the state-owned electricity network that have been experienced in
the fourth quarter of 2022 ("4Q 2022"), approximately 0.3 million
tonnes of pellets have been produced to date in 4Q 2022. Total
pellet production for 2022 is therefore expected to be
approximately 5.9-6.0 million tonnes.
Despite interruptions to the Group's production, shipments to
customers during 4Q 2022 have continued at a run rate of
approximately 250 kilotonnes per month.
For further information, please contact:
Ferrexpo:
Rob Simmons r.simmons@ferrexpo.ch +44 207 389 8305
Tavistock:
Jos Simson
Emily Moss +44 207 920 3150
Gareth Tredway ferrexpo@tavistock.co.uk +44 7785 974 264
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as amended by The
Market Abuse (Amendment) (EU Exit) Regulations 2019. The person
responsible for making this notification is Mark Gregory, Company
Secretary.
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets
in Ukraine and a premium listing on the London Stock Exchange in
the FTSE 250 index (ticker FXPO). The Group produces high grade
iron ore pellets, which are a premium product for the global steel
industry and enable reduced carbon emissions and increased
productivity for steelmakers when the Group's iron ore pellets are
converted into steel, compared to more commonly traded forms of
iron ore. Ferrexpo's operations have been supplying the global
steel industry for over 50 years, and in 2021 the Group produced
11.2 million tonnes of iron ore pellets, placing Ferrexpo as the
world's third largest exporter of pellets to the global steel
industry with a market share of approximately 9%. The Group has a
global customer base comprising of premium steel mills around the
world, which includes steel mills in Austria, Germany, Japan, South
Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam
and America. For further information, please visit www.ferrexpo.com
.
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END
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