Business
Q1 Production Report
Q1 Production Report.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n Ferrexpo PLC\n18 April 2008\n\n18 April 2008\n\nFerrexpo plc\n\nProduction for Q1 2008\n\n\nProduction in Q1 Q4 Change Q1 Change YTD YTD Change\n Tonnes '000 2008 2007 % 2007 % 2008 2007 % \n--------------------------------------------------------------------------------------------------\nIron Ore 7,131.5 7,182.8 (0.7) 7,140.2 (0.1) 7,131.5 7,140.2 (0.1)\nConcentrate 2,695.0 2,663.6 1.2 2,625.2 2.7 2,695.0 2,625.2 2.7\nPellets from produced \nraw materials 2,232.7 2,158.8 3.4 2,217.3 0.7 2,232.7 2,217.3 0.7\n 62% Fe 1,279.4 1,191.1 7.4 1,404.2 (8.9) 1,279.4 1,404.2 (8.9)\n 65% Fe 953.3 967.7 (1.5) 813.1 17.2 953.3 813.1 17.2\nPellets Total 2,268.2 2,189.0 3.6 2,328.6 (2.6) 2,268.2 2,328.6 (2.6)\n 62% Fe 1,314.9 1,221.3 7.7 1,515.5 (13.2) 1,314.9 1,515.5 (13.2)\n 65% Fe 953.3 967.7 (1.5) 813.1 17.2 953.3 813.1 17.2 \n--------------------------------------------------------------------------------------------------\n\n\nHighlights\n\n\n> Production in Q1 2008 continues at the high levels established in 2007\n> Total pellet output in Q1 2008 increased by 3.6% compared to the\n previous quarter, with output of pellets from own mined ore up 3.4%\n> Prices for purchased concentrate remain high, and accordingly focus\n remains on production of pellets from own mined ore\n> Further product quality improvements in Q1 2008, with production of\n higher quality (65% Fe) pellets up 17% versus the equivalent quarter in 2007\n> Emphasis placed on mining higher grade ore to facilitate increased\n pellet quality\n> Higher grade ore output in Q1 2008 increased by 4% compared to Q4 2007\n> Stripping volumes increased by 13% in Q1 2008 compared to the\n equivalent period in 2007, facilitating future iron ore production growth\n> Operational efficiency improvements continued, driven by the ongoing\n Business Improvement Programme\n> Ukrainian PPI cost inflation in the first quarter amounted to 12.2%\n> Average achieved price on a DAF/FOB basis for Q1 2008 rose by 5.7%\n compared to FY 2007\n\n\nViktor Lotous, Chief Operating Officer of Ferrexpo, stated:\n\n\n'I am pleased to report that Ferrexpo continues to produce at the same high\nlevels seen last year. The Company is facing cost inflation in Ukraine in 2008,\nas well as the impact of higher prices for steel-based inputs and diesel fuel in\nparticular. The implem...