LONDON Jan 8 Ukrainian iron ore miner Ferrexpo
said on Wednesday its iron ore pellet output rose to a
record high for the company in 2013 even as production fell
slightly in the last quarter of the year.
Total pellet production was 10.81 million tonnes in 2013,
11.6 percent up from the previous year, with the largest boost
seen in higher grade iron ore.
In the fourth quarter output was 2.76 million tonnes, 1.3
percent down from the previous three-month period.
The company, majority owned by Ukrainian billionaire and
parliamentarian Kostyantin Zhevago, is investing more than $650
million to ramp up production at its Yeristovo mine to 12
million tonnes of pellets by the first quarter of 2014.
It is also focusing on increasing the grade of its pellets
in an attempt to better access the growing Middle Eastern market
where strict grade controls are in place.