Ferrexpo brings Ukraine pellet line back into operation
By Frank Prenesti
Date: Wednesday 21 Dec 2022
(Sharecast News) - Ferrexpo said it was now receiving sufficient levels of power to bring one iron ore pelletiser line in central Ukraine back into operation, allowing it to meet the requirements of existing customer contracts.
As a result of interruptions and continued instability within the state-owned electricity network during the fourth quarter of 2022, around 0.3 million tonnes of pellets have been produced to date in the period. Total pellet production for 2022 is 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, the company said on Wednesday.
Power supplies to Ferrexpo's plants have been disrupted after Russia targeted Ukraine's energy grid with missile strikes in an effort to freeze civilians during the winter.
The London-listed company has three mines in the war-torn nation: Poltava, Yeristovo and Belanovo. Ferrexpo in October said that pellet production in the third quarter fell by 68%.
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