Summary by Futu AI
TIEJIANG FIELD CO., LTD. (“TIEJIANG FIELD”) RELEASED ON 7 MARCH 2024 OPERATING DATA FOR THE THREE MONTHS ENDED 31 DECEMBER 2023, SHOWING THAT PRODUCTION DECREASED BY 0.1% COMPARED TO THE PREVIOUS QUARTER, BUT SALES INCREASED BY 3.7% COMPARED TO THE PREVIOUS QUARTER, DUE TO ORE QUALITY AND MINING CONTRACTOR ISSUES. For the full year, sales volume and production decreased by 1.5% and 4.0%, respectively. The company's cash balance increased to $52.8 million and net debt decreased to $14.9 million. The PPS 65% Iron Ore Index rose 10.4% in the fourth quarter, but the annual average price was down 5% from last year. The Russian ruble rose slightly in the fourth quarter, but depreciated by about 19% over the year. The Company paid approximately $2.7 million in temporary export duties and $2.8 million in special taxes...Show More