Ferrexpo (GB:FXPO) has released an update.
Ferrexpo reports a robust production performance in the first half of 2024, with an 83% increase in total production compared to the latter half of 2023 and a 75% increase from the first half of 2023 despite the ongoing conflict in Ukraine. The company has successfully navigated operational challenges, such as sourcing alternative power and managing high freight rates, to maintain strong export activities and support stakeholders. Despite a dip in iron ore prices and rising electricity costs affecting margins towards the end of the second quarter, Ferrexpo has managed to sustain its cash position while investing in capital expenditure projects.
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