Ferrexpo group at the end of 12 months 2018 has invested more than $130 million in the development of the Poltava, and Belanovsky of the eristovsky GOK. Photo: Еспресо.TV
Ferrexpo group according to the results of 12 months of 2018 has invested over 3.5 billion UAH (more than $130,0 million) in the development of the Poltava, and Belanovsky of the eristovsky GOK included in the Group that exceeded the same period of 2017.
According to the approved by the Board of Directors of the investment program, Ferrexpo Group in January-December last year invested in support of the deposits and the development of the Poltava GOK (PGOK, Ferrexpo Poltava Mining, FPM, part of a group Ferrexpo) over 2414,0 million UAH (more than $90,0 million) in the development of the eristovsky and Belanovsky GOK (IGOK, Ferrexpo Yeristovo Mining, FYM, part of a group and BGOK Ferrexpo, Ferrexpo Belanovo Mining, FBM, part of a group Ferrexpo) – more than 1073,2 million FCU (more than $40 million).
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Major capital investments PGOK steel support costs of current production in excess of 806,0 million UAH (more than $33,0 million) and major strategic projects in excess of 914,0 thousand UAH (more than $32,0 million); components in excess of 694,0 million UAH (more than $25.1 million).
Tools Ugoka and Bgok was invested in the processing, the development of railway tracks and objects in the projects of capital construction of the quarry and infrastructure, geological and other works.
In 2019, the Group Ferrexpo continues to follow the investment plan in accordance with the Board of Directors approved an investment program.
Ferrexpo is a Swiss iron ore company with assets in Ukraine. The company’s main activity is the manufacture and export of high quality iron ore pellets used in steel production. Ferrexpo group is the largest producer and exporter of pellets among the countries of the former USSR. Current production assets – Poltava and Eristovsky GOK. Ferrеxpo plc owns 100% of Ferrexpo AG, which in turn, belongs of 99.11% shares of Poltava GOK and 100% of the shares by Ferrexpo yeristovo mining. In 2018, the Company produced 10.6 million tonnes of iron ore pellets. The main customers are steel mills from Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, Czech Republic, Turkey, Vietnam and USA. Shares of Ferrexpo is listed on the main market of the London stock exchange under the Ticker FXPO.