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.
Staff and wages
* per worker before taxes
Charts and tables
Production results, thousand tons
Indicative sales structure by products in 2019*
Indicative sales structure by markets in 2019*
* – in terms of money
Financial performance, $ million
|Net income margin||-46.8%||-243.5%||-152.2%||-91.0%||34.5%||27.4%||14.4%|
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