The UK-based company Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced the conclusion of a long-term iron ore supply agreement with a new export customer.
According to the terms of contract, Ferrexpo will supply approximately 1.3 million metric tons of iron ore pellets over the next three years to its new customer.
Although Ferrexpo has not disclosed its new consumer's name, the company said that the contract involve a steel producer which is located in close proximity to Ukraine and which is currently expanding its iron and steel production.