Interfax reported that London listed Ferrexpo plc which controls Ukrainian iron ore producer Poltava Mining reduced production of commercial pellets by 2.5%YoY to 8.127 million tonnes in the first ten months of 2011.

An industry source said Poltava Mining increased production of concentrate by 1.5% to 9.485 million tonnes in the ten months. Poltava Mining produced 870,000 tonnes of pellets and 989,300 tonnes of concentrate in October alone.

Poltava Mining mined 28.93 million tonnes of iron ore in 2010, up by 1.3%YoY. Production of iron ore concentrate rose 6.3% to 11.226 million tonnes and production of pellets from the company's own raw materials grew 4.9% to 9.033 million tonnes with output of 62%-Fe pellets jumping 15.5% to 4.972 million tonnes and production of 65%-Fe pellets dropping 5.7% to 4.061 million tonnes.

The company increased sales of pellets by 7.8% to 9.7 million tonnes in 2010. The company's main customers are steelmakers in Austria, Serbia, Slovakia, the Czech Republic, Germany and other European countries, as well as China, India, Japan and other markets in Asia.

Ferrexpo owns 97.31% of Poltava Mining.

(Sourced from Interfax)