Ukraine's Ferrexpo iron ore mine production drops by 40%

Published: Jul 9, 2025 17:00

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[Ferrexpo's iron ore production in Ukraine drops significantly by 40% in Q2]

Ferrexpo, a Ukrainian mining company, stated that its iron ore production in Q2 decreased by 40% QoQ due to the suspension of VAT refunds in Ukraine, which led to tight liquidity and forced the company to reduce its operations. In Q2 2025, Ferrexpo's total iron ore production was 1.268 million mt, showing a sharp decline of 40.4% QoQ and 24.2% YoY. Among this, the production of iron ore concentrates (Fe67%) was 446,000 mt, down 42.7% QoQ. However, the company achieved a 135.8% YoY increase in production by flexibly adjusting its product mix and benefiting from strong demand in the Chinese market. The total production of pellets was 822,000 mt, down 39.0% QoQ and 44.6% YoY. The production of direct reduction pellets (FDP) was zero, compared to 82,000 mt in the previous quarter.

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