Ukraine's Poltava GOK, a subsidiary of Swiss-headquartered resource company Ferrexpo, has announced that in the first quarter of the current year its production of pellets from its own ore increased by 6.3 percent compared to the same period of last year to 2.258 million mt. In the first three months, the company produced 7.546 million mt of iron ore, up 7.5 percent year on year.
Ferrexpo continues to invest in Poltava GOK and plans to increase its pellet output to 12 million mt per year by the beginning of 2014. In 2011, Ferrexpo increased its capital expenditure in Poltava GOK by more than 2.5 times compared to 2010, to UAH 2.8 billion ($348 million).
Poltava GOK is principally involved in the production and export of iron ore pellets which are used in the manufacture of steel.