The UK-based company Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced its decision to expand and extend its existing operations at its Gorishne-Plavninskoye Lavrikovskoye (GPL) mine.
As a result of a review of its iron ore resources at the Gorishne-Plavninskoye and Lavrikovskoye deposits, the company has upped the GPL mine's estimated resources by 127.4 percent to 3.704 billion mt. An additional two billion mt of iron ore resources has been discovered due to an extension of the depth limit of the mine.
Mr. Dave Webster, Ferrexpo's Interim Chief Operating Officer, stated: "We at Ferrexpo remain focused on maximizing the value of our resource through continued exploration and efficient mine planning. This positive restatement of the resources contained within the Gorishne-Plavninskoye and Lavrikovskoye iron ore deposits associated with our GPL mine gives us added confidence in the Group's ability to expand production at the mine and to extend its life beyond 2035. This significant uplift in our resources is in addition to the substantial resources available to our major growth projects at Yeristovskoye and Belanovskoye."