The UK-based company Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced the commencement of its new investment program for the expansion of iron ore capacities at the Gorishne-Plavninsk and Lavrikovsk deposits held by its subsidiary Poltava GOK. The investment program worth $158 million is intended to boost the total iron ore capacity of the deposits in question to 32 million metric tons by 2011.
Ferrexpo developed the projects for capacity expansion at these two deposits with the help of South African engineering company Turgis Consulting (Property) Limited.
In addition, with the capacity expansions at the Gorishne-Plavninsk and Lavrikovsk deposits, Ferrexpo will be able to increase its annual pellets (65% Fe) production capacity by 1.3 million metric tons.