The production of iron ore pellets at the Ukrainian mining and processing plants of the Swiss company Ferrexpo increased in the 4th quarter of 2021 by 18% compared to the previous quarter to 3.1 million tons. Ferrexpo's press service reported this, noting that at the end of last year, all four pelletizing lines were reopened after upgrades in previous quarters.
The total annual production of iron ore pellets in 2021 was 11.2 million tonnes, which is in line with last year's figure and takes into account stoppages during the year to carry out work on the modernization of the pellets.
Ferrexpo increased the share of premium pellets with an iron content of more than 67% to 4% of the total production volume, which is 431 thousand tonnes. All other products are manufactured with an iron content of at least 65%.
Total shipments of salable concentrate for the full year amounted to 234 thousand tonnes in 2021, up from 183 thousand tonnes in 2020.
Total sales for the full year were 11.3 million tonnes, which is in line with production for the year and represents a 6% year-on-year decrease as a result of the inventory reduction process completed in 2020.
Ferrexpo has a net cash position of approximately US $ 117 million as of December 31, 2021, up from a net cash position of US $ 4 million at the end of 2020.
Strong operating and financial results have led the group to announce an additional interim dividend of 6.6 US cents per common share on December 22, 2021.
Ferrexpo is a Swiss iron ore company with assets in Ukraine. The main activity of the company is the production and export of high quality iron ore pellets used in steel production. Ferrexpo is the largest producer and exporter of pellets among the countries of the former USSR. Current production assets are Poltava and Eristovsky GOKs. Ferrexpo plc owns 100% of the shares of Ferrexpo AG, which, in turn, owns 100% of the shares of Poltava GOK and 100% of the shares of Eristovsky GOK.