14 March 2012
High iron-ore prices helped Ferrexpo, the FTSE 250 miner that makes pellets for the steel industry, to today post a 39% jump in pre-tax profit to $691 million (£440 million) last year.
The benchmark price for iron ore imported to China, the world’s biggest consumer, averaged $167.60 a metric ton in 2011, up from $146.70 a ton a year earlier. Ferrexpo plans to boost production by one third to 20 million tonnes from next year.
