A world class orebody
Ferrexpo's largest mine, the Poltava Mine has been in operation for over 50 years and has over 1 billion tonnes of JORC-compliant Ore Reserves - sufficient for a further 50 years of operations at today's mining rates. Ferrexpo Poltava Mining ("FPM") is the subsidiary for mining operations at the Poltava mine, in addition to the Group's processing plant.
1.1 billion tonnes of JORC-compliant Ore Reserves at FPM.
17 million tonnes of high grade ore from FPM processed in 2021.
Over 50 years mine life remaining at FPM at today's mining rates.
FPM is the Group's subsidiary that operates the Poltava mine and mines on the GPL deposits that cover the most southerly section of the Kremenchuk Magnetic Anomaly, which stretches north for over 50 kilometres. The mine is an open-pit operation, whereby the Group's excavators and haul trucks operate around the clock to supply high-quality magnetite iron ore to the Group's processing plant. In 2021, the total volume mined at Poltava was approximately 80 million tonnes, including 17 million tonnes of high grade iron ore for processing.
The Group also has its processing plant located adjacent to FPM, which is currently served by high grade ore from both FPM and FYM. The Group's processing plant has a nameplate capacity of 35-40 million tonnes of ore (depending on ore types processed and pellet types produced). The processing plant consists of crushing and beneficiation facilities, which upgrade raw iron ore with a magnetic iron content of approximately 25-30% ("Fe mag."), to create concentrate grading more than 65% Fe.
This concentrate is then passed into the Group's pelletiser, which heats pellets to 1,300oC and creates high grade iron ore pellets, typically grading either 65% Fe (blast furnace pellets) or 67% Fe (direct reduction pellets).
In 2021, the Group announced details of its 'Wave 1' expansion plan to significantly invest in its concentrator and pelletiser capacity, with the intention of adding three million tonnes of additional pellet capacity to the Group's processing complex. For more information on Ferrexpo's growth plans, please click here.