Ferrexpo, a leading producer of iron ore pellets, has reported a significant increase in its production output for the first half of 2024. The company’s total production soared by 83%, reaching 3.7 million tonnes, marking a 75% increase compared to the same period last year. This robust performance is particularly noteworthy as it represents the best results since the onset of the full-scale invasion of Ukraine in February 2022.
The company’s interim executive chair, Lucio Genovese, expressed satisfaction with the strong production figures, highlighting the resilience and adaptability of Ferrexpo in navigating the complexities of the ongoing conflict. The access to the Black Sea maritime corridor has been instrumental in facilitating shipments from Ukrainian ports, contributing to the company’s success.
Despite the war’s persistent challenges, including attacks on energy infrastructure and rising costs, Ferrexpo has managed to minimize disruptions by securing alternative power sources. The company remains committed to the safety and well-being of its workforce, continuing its humanitarian efforts and supporting the Ukrainian government through taxes and royalties.
