Ukrainian iron ore producer Ferrexpo has announced its iron ore production report for August 2009, showing achievement of six consecutive month full capacity operation of pellets since March following the falloff in the first two months in 2009 when bad weather conditions adversely impacted the operation. Pellet production in August was 7.47 million tons (Mt). |
Ferrexpo plc is headquartered in Switzerland and listed on the London Foreign Exchange. At its plant in Ukraine, it produces 9 Mt of pellets per annum, of which 85% is directed to export markets.
Ferrexpo's iron ore mining operations are conducted 30 km away from Kremenchug in central Ukraine on the banks of the Dnieper river. Mineral resources total approximately 18 billion tonnes consisting of 9 deposits of magnetite at 30% Fe on average. Mining was commenced at Ferrexpo Poltava in the 1960's with the first concentrate output realized in 1970. Mining is currently carried out at the Gorishne - Plavninskoye and Lavrikovskoye ("GPL") mine. In addition, Yeristovskoye deposit is being developed with start of iron ore production targeted for 2011.