Ferrexpo Strategic Priorities
> In this section:
Ferrexpo has defined seven strategic priorities, which it believes will lead to the achievement of sustained growth and the creation of long-term shareholder value.
It has identified a number of operational key performance indicators (KPI) against which to benchmark these priorities.
| STRATEGIC PRIORITY | OPERATIONAL KPIS |
|---|---|
| 1To develop the Group's significant resource base |
Total production from own ore 000 tonnes  |
Definition Total pellet production, including from purchased concentrate |
|
| 2To improve the quality of the Group's pellets |
Production of Premium 65% Fe pellets from own ore 000 tonnes  |
Definition Production of higher quality pellets |
|
| 3To remain in the lowest quartile of the global pellet cost curve |
C1 cash cost per tonne of pellets US$/tonne  |
Definition The cash costs of production of iron pellets from own ore divided by production volume of own ore |
|
Consumption norms US$/tonne 
|
|
Definition The rate of utilisation of raw materials and labour in the production of pellets |
|
| 4To expand the Group's logistics capabilities |
Sales volume managed through Ferrexpo's supply chain %  |
Definition The % of sales transported to customers through Ferrexpo's port and barging facilities |
|
| 5To open and develop new markets and customers |
Sales volumes to the Group's two largest customers %  |
Definition The % of sales volume sold to Ferrexpo's two largest customers per annum |
|
| 6To maintain adequate liquidity and low balance sheet gearing |
Net debt to EBITDA  |
Definition Net debt divided by EBITDA |
|
| 7To be a responsible corporate citizen |
Fatalities  |
Definition Work related fatal accidents |
|
LTIFR 
|
|
Definition Lost time injury frequency rate1 |
1Lost-Time Injury Frequency Rate ('LTIFR'): The rate of lost-time injuries per million man hours worked. Following the increased focus on safety and the review by DuPont, incidents that previously went unreported are now being reported.