Ferrexpo PLC (LSE:FXPO) said its total iron ore pellet production in the third quarter climbed 2% year on year, although output fell 9% quarter on quarter due to pelletiser upgrading and maintenance work.
Upgrade work on its fourth pelletiser line was completed in September, the world's third-largest exporter of iron ore pellets said.
Total commercial production of pellets and concentrate rose 6% year on year, helped by high grade (67% iron) commercial concentrate production, reflecting the group's recent investment in its concentrate stockyard project.
"I am pleased to report our continued progress in terms of product quality and product volumes, with upgrade work completed on the pelletiser during the quarter,” said interim chief executive Jim North.
“Through continued investment in the group's concentrator and pelletiser facilities, we are creating a platform for future growth in product volumes, whilst simultaneously increasing the overall grade of our production."
The proportion of higher grade (67% iron) direct reduction pellets increased to 8% of total pellet production during the third quarter, up from 3% in the prior period.