Business
Production Report for 1Q 2025
Production Report for 1Q 2025.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n\n7 April 2025\n \nFerrexpo plc\n(\"Ferrexpo\" or the \"Company\" or the \"Group\")\n \nProduction Report for 1Q 2025\n \nFerrexpo plc (LSE: FXPO), a producer and exporter of premium iron ore pellets, is pleased to report production results for the first quarter to the end of March 2025 (\"the quarter\" or \"1Q\" or \"1Q 2025\").\nHighlights\n· Ferrexpo remains committed to the safety and wellbeing of its workforce and the Group continues to take extensive measures to protect employees, their families, and local communities.\n· At the end of February 2025, the Group reported a rolling 12-month LTIFR of 0.66, which was above the historic five-year trailing average of 0.52. Zero workplace fatalities reported for over four years.\n· During the quarter the Group operated two pelletising lines (out of four) in addition to commercial concentrate production, however, due to the recently announced suspension of VAT refunds, operations have reduced to one pellet line.\n· Record quarterly production since the start of the full-scale invasion in February 2022, totalling 2.1 million tonnes, comprising 1.3 million tonnes of pellets and 0.8 million tonnes of 67% Fe concentrate due to a strong increase in high grade concentrates sold to customers in Asia.\n· Production of higher margin Ferrexpo DR pellets (FDP) continued during the quarter, albeit at a lower rate of 81k tonnes.\nSummary production statistics\n\n\n\n\n(tonnes, unless otherwise stated)\n\n\nFe Grade\n\n\n1Q 2025\n\n\n4Q 2024\n\n\nChange\n\n\n1Q 2025\n\n\n1Q 2024\n\n\nChange\n\n\n\n\nTotal commercial production\n\n\n\n\n\n2,125,467\n\n\n1,769,073\n\n\n+20%\n\n\n2,125,467\n\n\n2,054,489\n\n\n+3%\n\n\n\n\nTotal pellet production\n\n\n\n\n\n1,347,749\n\n\n1,503,373\n\n\n-10%\n\n\n1,347,749\n\n\n1,813,973\n\n\n-26%\n\n\n\n\nDR pellets (FDP)\n\n\n67%\n\n\n81,787\n\n\n163,552\n\n\n-50%\n\n\n81,879\n\n\n0\n\n\n-\n\n\n\n\nFerrexpo premium pellets\n\n\n65%\n\n\n1,105,049\n\n\n1,204,380\n\n\n-8%\n\n\n1,105,049\n\n\n1,731,427\n\n\n-36%\n\n\n\n\nOther pellets\n\n\n65%\n\n\n160,913\n\n\n135,441\n\n\n+19%\n\n\n160,913\n\n\n82,546\n\n\n+95%\n\n\n\n\nCommercial concentrate\n\n\n67%\n\n\n777,718\n\n\n265,700\n\n\n+193%\n\n\n777,718\n\n\n240,516\n\n\n+223%\n\n\n\n\nCommenting on the Group's performance, Lucio Genovese, Interim ...