Business
Q4 Production Results
Q4 Production Results.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n Ferrexpo PLC\n22 January 2008\n\n\n\n\n\n Ferrexpo plc\n \n Production for Q4 2007\n\n\nProduction in Tonnes '000 Q4 Q3 Change Q4 Change FY FY Change\n 2007 2007 % 2006 % 2007 2006 %\n-------------------------------------------------------------------------------------------\nIron Ore 7,183 7,305 (2) 7,071 2 28,934 26,425 9\n\nConcentrate 2,664 2,695 (1) 2,661 0 10,652 9,695 10\n\nPellets from produced\nconcentrate 2,159 2,184 (1) 2,243 (4) 8,793 8,149 8\n\n 62% Fe 1,191 1,229 (3) 1,463 (19) 5,092 5,037 1\n\n 65% Fe 968 955 1 780 24 3,701 3,112 19\n\nPellets Total 2,189 2,230 (2) 2,304 (5) 9,072 8,550 6\n\n 62% Fe 1,221 1,275 (4) 1,515 (19) 5,371 5,429 (1)\n\n 65% Fe 968 955 1 789 23 3,701 3,121 19\n-------------------------------------------------------------------------------------------\n\nHighlights\n\n> Operational efficiency improvements demonstrated in first three quarters of \n the year continued in Q4 2007\n> Total pellet production in FY 2007 increased by 6%, with production of \n pellets from produced ore up 8%\n> Production of iron ore in Q4 2007 increased by 2% compared to the equivalent \n period in 2006\n> Seasonality and an increased focus on stripping works for the northern \n extension of our open pit mine contributed to slight decline in Q4 2007 iron \n ore volumes compared to Q3 2007\n> Iron ore concentrate output in FY 2007 was up 10%, in line with growth in \n FY 2007 iron ore production\n> Focus was on pellet production from own produced ore in 2007, as third party \n iron ore concentrate market remains tight\n> Moves to increase production of higher quality (65% Fe) pellets continued, \n with this product now constituting 44% of total pellet production in Q4 2007, \n and 40% in FY 2007\n> Production of 65% Fe pellets was up 23% in Q4 2007 compared to Q4 2006, and \n up 19% in FY 2007\n> Average achieved price of pellets on a DAF/FOB basis in Q4 2007 decreased by \n 0.5% compared to Q3 2007, due to changes in sales mix\n> Average achieved price on a DAF/FOB basis for FY 2007 rose by 20.3% compared \n to FY 2006\n> Our ongoing Business Improvement Programme continues to drive improvements in \n production processes and management systems which are reflected in improved \n equipment utilisation ratios\n\nViktor Lotous, Chief Operating Officer of Ferrexpo, stated:\n\n'I am ...