Strong sales growth at Ferrexpo

Iron ore miner Ferrexpo yesterday said that sales for the first nine months of the year had hit 7.6m tonnes, an increase of nine per cent on the previous year. The FTSE 250 firm is looking to develop a new concentrator and has approved an additional $40m (£24.8m) capex for infrastructure. “The company’s costs look good to us and the group appears well placed to drive its operating costs down as production continues to increase,” said Investec.