Ferrexpo proclaims 2008 a record year
3 February 2009
Ferrexpo (FXPO LN) released a trading update and 4Q08 production report today. The company hailed 2008 as a record year, with operating performance ahead of management expectations. Ferrexpo said it lowered cash costs to USD 34.7 per mt in Dec. 2008 from USD 43.9 for the full year. The company produced 27 mln mt of pellets (down 4.0% yoy) in 2008, 10.5 mln mt of concentrate (down 1.8% yoy); high quality pellet output increased 8.5% yoy. Look for a flash note from us on the update later today.
