Ferrexpo Q1 sales grow as pellet output increases
Iron ore miner Ferrexpo said on Tuesday that first-quarter sales looked set to rise in 2020 thanks to a jump in pellet output during the period.
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Ferrexpo said pellet output had increased 7% to 2.7m tonnes in the three months ended 31 March, while first-quarter sales were expected to come in at around 2.8m tonnes - up from the 2.6m tonnes recorded a year earlier.
The FTSE 250-listed firm also said production in the first quarter had not been impacted by the Covid-19 outbreak and stated it was continuing to take "active measures" to help protect its workforce and local communities against the spread of the virus.
As of 0850 BST, Ferrexpo shares were up 6.01% at 128.80p.