Ferrexpo plc (LSE: FXPO), a producer and exporter of premium iron ore products, reports production results for the second quarter to the end of June 2026 (“the quarter" or “2Q” or “2Q 2026”) alongside a general trading and corporate update.
Production Report
- Ferrexpo remains committed to the safety and wellbeing of its workforce and the Group continues to take extensive measures to protect employees, their families, and local communities.
- At the end of May 2026, the Group reported a rolling 12-month LTIFR of 0.18 (rolling 6-month LTIFR: 0.20), which remains below the historic five-year trailing average of 0.44. Zero workplace fatalities have been reported for more than five years.
- The Group continues to operate in a highly constrained environment, affected by, among other things, severe operational and financial risks arising from the war in Ukraine, including a large number of its workforce serving in the Armed Forces of Ukraine and disruptions to and constraints within the Group’s logistics operations, as a result of which the Group currently has only one pellet line in operation.
- Total production for the quarter was 963 thousand tonnes, comprising 860 thousand tonnes of premium iron ore pellets and 103 thousand tonnes of Fe 67% premium iron ore concentrate.
Summary production statistics
| (tonnes, unless otherwise stated) | Fe Grade | 2Q 2026 | 1Q 2026 | Change | 6M 2026 | 6M 2025 | Change |
| Total commercial production | 963,409 | 592,751 | 63% | 1,556,160 | 3,393,135 | -54% | |
| Total pellet production | 860,213 | 524,926 | 64% | 1,385,139 | 2,169,631 | -36% | |
| DR pellets (FDP) | 67% | 163,171 | 0 | - | 163,171 | 81,787 | 100% |
| Ferrexpo premium pellets | 65% | 697,042 | 524,926 | 33% | 1,221,968 | 2,087,844 | -41% |
| Commercial concentrate | 67% | 103,196 | 67,825 | 52% | 171,021 | 1,223,504 | -86% |
Commenting on the Group’s performance, Lucio Genovese, Interim Executive Chair, said: “We are very pleased to be able to restart steady production during this period despite the numerous operating and logistic challenges we were confronted with. We took advantage of improving our sales mix through the exports of DR Pellets (FDP) and we continue to cut costs across the entire business in order to preserve our available working capital which is being depleted as a result of no VAT refunds since March 2025. We continue to progress with the capital raise which is the most viable solution to mitigate the working capital shortfall.”
Link to full PDF version of this release: click here
For further information, please contact:
Ferrexpo:
Via Tavistock
Tavistock:
Jos Simson / Gareth Tredway
ferrexpo@tavistock.co.uk
+44 (0)7899 870 450 / +44 (0)7785 974 264
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a listing in the equity shares commercial companies category on the London Stock Exchange (ticker FXPO). The Group produces premium grade iron ore products sold to the global steel industry and enabling steel makers to reduce carbon emissions and increase productivity. Ferrexpo's operations have been supplying the global steel industry for over 50 years with a customer base comprising of premium steel mills around the world. For further information, please visit www.ferrexpo.com.