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
23 April 2024
17 April 2024
23 February 2024
22 February 2024
21 February 2024
11 January 2024
10 January 2024
13 December 2023
05 October 2023
20 July 2023