
Ferrexpo Yeristovo Mining
In 2012, Ferrexpo Yeristovo Mining (FYM) commenced industrial development of Yeristovo deposit (ferruginous quartzite reserves — 844 million tons; proved and estimated reserves according to JORC — 623 million tons). It is a part of Ferrexpo.
FYM uses open-pit method of iron ore mining. To date, part of mined iron ore is sold to Ferrexpo Poltava Mining, and the rest is pelletized by Poltava Mining on a give-and-take basis. Produced pellets are exported.
According to the project, FYM is expected to build its own crushing and beneficiation plant to process iron ore and produce 67.3% Fe concentrate.
Production capacity
* estimates
* Estimates
Staff and wages
* per worker before taxes
Charts and tables
Production results, thousand tons
Indicative sales structure by products in 2020*
Indicative sales structure by markets in 2020*
* – in terms of money
Financial performance, $ million
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
---|---|---|---|---|---|---|---|---|
Sales | 59 | 70 | 69 | 54 | 244 | 336 | 188 | 203 |
EBITDA | 0 | 23 | 13 | 8 | 92 | 136 | 57 | 84 |
EBITDA margin | 0.8% | 32.4% | 18.8% | 14.3% | 37.9% | 40.6% | 30.4% | 41.4% |
Net income | -28 | -170 | -105 | -50 | 84 | 92 | 27 | 40 |
Net income margin | -46.8% | -243.5% | -152.2% | -91.0% | 34.5% | 27.4% | 14.4% | 19.8% |
CAPEX | 101 | 87 | 23 | 13 | 32 | 38 | 51 | 49 |
Key facts
2008-2012
Yeristovo Mining’s open pit was built between 2008 and 2012. According to the media, investment in its development amounted to $400 million.
December 2018–February 2019
FYM ordered 200 railcars from Kryukov Railway Car Building Works. The railcars were delivered in December 2018–February 2019.
Sources: websites of the companies, media outlets