# Ferro-Alloy Resources Q1 2024 Production 160% higher than Q1 2023

- Link: https://www.directorstalkinterviews.com/ferro-alloy-resources-q1-2024-production-160-higher-than-q1-2023/4121153742
- Published: 2024-04-26T07:05:18+01:00
- Author: Amilia Stone

**Ferro-Alloy Resources Ltd** ([LON:FAR](https://www.directorstalkinterviews.com/company/ferro-alloy-resources/far.l)),
the vanadium producer and developer of the large Balasausqandiq vanadium deposit
in Southern Kazakhstan, has announced the production results of the Group’s existing
operation for Q1 2024.

**Q1 Production Results**

|  | **2023** | **2024** | 
|  | **Q1****2023** | **Q2****2023** | **Q3****2023** | **Q4****2023** | **FY 2023** | **Q1****2024** | **Q1 % change** | 
|  |  |  |  |  |  |  |  | 
| **Tonnes of concentrate processed** | 194.1 | 1,016.6 | 314.0 | 703.3 | 2,228.0 | **668.6** | **+244.5%** | 
| ** ** |  |  | ** ** |  |  | ** ** | ** ** | 
| **Tonnes of vanadium pentoxide produced\*** | 31.3 | 141.4 | 47.3 | 90.5 | 310.5 | **81.6** | **+160.7%** | 
| ** ** |  |  | ** ** |  |  | ** ** | ** ** | 
| **Tonnes of molybdenum produced\*\*** | 6.5 | 14.1 | 6.4 | 7.4 | 34.4 | **7.1** | **+9.2%** | 
| ** ** |  |  | ** ** |  |  | ** ** | ** ** | 
| **Tonnes of nickel produced\*\*\*** | 9.7 | 50.8 | 15.7 | 35.2 | 111.4 | **33.4** | **+244%** |

*     partly contained in ammonium metavanadate

**   in ferro-molybdenum

*** in nickel concentrate** **

**Commentary**

Production in Q1 2024 was 160% higher than Q1 2023, but slightly lower than planned,
impacted mainly by severe flooding in Kazakhstan during March which caused transport
delays in country and infrastructure issues at the plant site. One of the Group’s
four roasting ovens also required re-lining during the quarter. The pre-roaster,
which reduces the raw material residence time in the main ovens, was not in operation
during the quarter as a result of high winter winds and general extreme weather.

During the quarter, several improvements were made to the production facilities,
including the installation of new cyclones on two of the roasting ovens in order
to increase recovery and reduce emissions. A reorganisation of the drying oven and
dissociation oven was also undertaken to increase overall recoveries. Two new drying
ovens are currently being installed and will be commissioned during May.

**Production Outlook**

The impact of the floods has also affected production at the start of April but 
the improvements in the plant described above, together with the expected operation
of the pre-roaster, should increase production to compensate.

The Company has sufficient feedstock in its warehouse for processing over the next
two months and further concentrate deliveries are expected to arrive on site to 
enable uninterrupted production.

The Company has also started to source and treat raw materials for processing on
a tolling basis which eliminates the risk of price movements between the time of
purchase of concentrates and the sale of the product.

> **Commenting on the production results, Nick Bridgen, CEO of Ferro-Alloy Resources
> said:**
> _“The first quarter of the year always produces challenging winter weather, but
> we are pleased to see a solid increase on the same quarter last year despite more
> severe weather. We are hopeful that we will be able to build on the success of
> this quarter throughout the rest of the year.”_

Share on: