Business
Trading Update and Production Report for 4Q 2020
Trading Update and Production Report for 4Q 2020.
About this update from Ferrexpo Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3200L\n Ferrexpo PLC\n 12 January 2021\n \n \n \n \n \n \n 12 January 2021\n \n \n \n Ferrexpo plc\n (\"Ferrexpo\" or the \"Company\" or the \"Group\")\n Trading Update and Production Report for 4Q 2020\n Summary:\n \n · \n Total iron ore pellet production rises 22% quarter on quarter to 3.1MT in 4Q 2020, following the successful ramp up of the Group's concentrator expansion project.\n \n \n · \n Total full year production of iron ore pellets of 11.2MT in 2020, representing an increase of 7% on 2019.\n \n \n · \n Production of high quality 65% Fe and 67% Fe pellets represented 99% of total pellet production in 2020 (2019: 96%).\n \n \n · \n Total full year sales volume of 12.1MT in 2020, up 18% on 2019.\n \n \n · \n COVID-19 update: Ferrexpo's operations and logistics continued to operate with minimal impact during 4Q 2020.\n \n \n · \n Group net cash position as at year end of approximately US$4M, following strong financial and operational performance in 2020. (Net debt position as of 31 December 2019: US$282M). The Group's cash balance as of 31 December 2020 was approximately US$270M (31 December 2019: US$131M).\n \n \n \n \n \n \n \n \n (000' tonnes, unless stated otherwise)\n \n \n \n \n \n Product \n \n \n Grade\n \n \n \n \n \n 4Q 2020\n \n \n \n \n 3Q 2020\n \n \n \n \n % Change\n \n \n \n \n FY 2020\n \n \n \n \n FY 2019\n \n \n \n \n % Change\n \n \n \n \n \n \n Total pellet production\n \n \n \n \n \n \n \n \n \n \n \n 3,084\n \n \n \n \n 2,537\n \n \n \n \n +22%\n \n \n \n \n 11,218\n \n \n \n \n 10,519\n \n \n \n \n +7%\n \n \n \n \n \n \n \n \n \n Production comprised of:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n o \n Direct Reduction (\"DR\") Pellets\n \n \n \n \n 67% Fe\n \n \n \n \n 153\n \n \n \n \n -\n \n \n \n \n +100%\n \n \n \n \n 339\n \n \n \n \n -\n \n \n \n \n +100%\n \n \n \n \n \n \n o \n Ferrexpo Premium Pellets\n \n \n \n \n 65% Fe\n \n \n \n \n 2,931\n \n \n \n \n 2,537\n \n \n \n \n +16%\n \n \n \n \n 10,780\n \n \n \n \n 10,116\n \n \n \n \n +8%\n \n \n \n \n \n \n o \n Ferrexpo Basic Pellets\n \n \n \n...