Russia-focused IRC iron-ore concentrate output rises 13% in Oct–Dec

MOSCOW, Jan 23 (PRIME) -- IRC Ltd, the iron ore division of Petropavlovsk Plc, which operates gold deposits in Russia, raised its iron-ore concentrate output by 12.5% on the quarter to 695,431 tonnes in October–December 2019, the company said in a statement Thursday.

In 2019, production rose 15.3% on the year to 2.576 million tonnes.

Sales of iron-ore concentrate went up 3.6% on the quarter to 623,335 tonnes in October–December and rose 10.8% to 2.464 million tonnes in 2019.

Unaudited remainder of cash and deposits of IRC amounted to about U.S. $4.3 million as of the end of 2019, with the company’s total debt standing at $224.5 million.

End