The first stage of the project has already been completed and the results of the research of the Australian consulting company have been received

Ferrexpo, an iron ore company with assets in Ukraine that is listed on the London Stock Exchange, plans to electrify mining transport at three of the Group’s enterprises.

This was stated by Yuriy Khymych, CEO of Belanovo Mining and leader of Ferrexpo’s corporate social responsibility projects in Ukraine, in an interview with GMK Center.

«The war has slightly adjusted our decarbonization plans, but our strategy remains unchanged. By the way, last year I headed a team implementing a project to electrify quarry transport at three of the Group’s enterprises,» he comments.

The first phase of the project has now been completed and the results of research by an Australian consulting company have been received, which recommends consistent electrification measures for all three quarries.

The electrification of quarry transport is a Ferrexpo project that is linked to the company’s strategy to reduce emissions by 50% by 2030 and achieve emissions neutrality by 2050. In particular, the company is considering the possibility of being the first in Ukraine to launch 300-ton mining dump trucks and install pantographs on dump trucks. Ferrexpo believes that this will enable them to significantly reduce carbon emissions.

«We are currently analyzing the Australian report and have already identified a pilot area for the implementation of the mining transport electrification project. Ferrexpo specialists are modeling various scenarios. We are also working with ABB to develop a conceptual design and equipment specifications for the project,» Khymych added.

In total, the company plans to electrify 14 kilometers of tracks in the open pits of Poltava Mining, Yeristovo Mining and Belanovo Mining.

«If we fully follow the recommendations of Australian consultants, over the next 10 years, we can expect to save more than $400 million in operating costs and reduce carbon emissions by 526 thousand tons. We have already made a significant step forward and continue to move in this direction,» summarizes the CEO of Belanovo Mining.

Ferrexpo has recently commissioned a filtration and concentrate storage area at the crushing and processing plant (CPP) of Poltava Mining and Processing Plant. The project was implemented as part of Ferrexpo’s strategic development program, which aims to double the production of iron ore pellets to 24 million tons per year.