LONDON (dpa-AFX) - Ferrexpo PLC (FXPO.L), a producer of iron ore pellets, Monday said its production for the first half increased 75 percent year-on-year to 3.73 million tonnes
The company produced 3.3 million tonnes of pellets and 429,865 tonnes of concentrate during the first six months period.
On a quarter-over-quarter basis, production declined 19 percent to 1.67 billion tonnes, comprising 1.48 million tonnes of pellets and 189,038 tonnes of concentrate.
'Although we have taken the opportunity to produce, export and sell more, the higher iron ore prices which we benefited from in the first quarter have not extended into the second quarter. This, combined with higher electricity prices has seen margins reduce as we moved into the end of the second quarter.' said Lucio Genovese, Interim Executive Chair.
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