Brief: IRC Ltd Says For Q3, K+S Production Volume Up 3.9% Over Previous Quarter

IRC

08/11/2022 01:11

Nov 8 (Reuters) - IRC Ltd  1029.HK :
    * FOR Q3 2022, 3.9% INCREASE IN K+S PRODUCTION VOLUME OVER
PREVIOUS QUARTER
    * CONTINUOUS PREPARATION OF SUTARA DEPOSIT WITH AIM OF
PROCESSING
SUTARA ORE BY SECOND HALF OF 2023
    * IN Q3 FOR K+S, 6.9% DECREASE IN SALES VOLUME QOQ
    * AS WE ENTER INTO Q4, OPERATING ENVIRONMENT, IN PARTICULAR
IRON
ORE PRICE, FURTHER DETERIORATES
    * AS WE ENTER INTO Q4, K+S IS GENERATING NEGATIVE MARGINS
    * IF SITUATION PERSISTS, MAY HAVE TO CONSIDER SCALING DOWN
K+S
OPERATION
    * CURRENTLY, IRC DOES NOT HAVE ANY OPEN IRON ORE HEDGING
POSITIO

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 ((Reuters.Briefs@thomsonreuters.com;))