FERREXPO
UKRAINE OPERATIONS
Ferrexpo . “ There ’ s a lot of talk about green steel ”, says North . “ If we want a green steel industry , blast furnace technology either needs to substantially change or will eventually be phased out . Traditionally , our standard pellets feed the blast furnace market . For a green steel product , you need to move away from the traditional technologies that use coke and filament gas for fuel , and towards electric arc furnaces and the DR processes . As we work on our growth programme we ' re modifying our technology to allow us to produce a higher-grade , ultimately carbon-neutral pellet needed for the green steel process ”.
Ferrexpo ’ s resource base is situated along a 50km mineral deposit in the Ukraine , which allows for the efficient expansion of production through brownfield developments . As of 1 June 2020 , the company has estimated proven and probable ore reserves of 1.7 billion tonnes classified according to the JORC Code . These Ore Reserves are included in Ferrexpo ’ s mMineral Resources of resources approximately 6.1 billion tonnes . In addition , as of 1 June 2020 , the company had estimated resources of 13.1 billion tonnes under the FSU Classification .
Ferrexpo ’ s ore body has been classified into nine deposits of which the first three have been developed into two open pit mines :
• FPM exploits the GPL deposits . The FPM mine has consistent geology and a long-life production profile beyond 2040 , based on annual mining output of approximately 30 million tonnes .
• FYM exploits the Yerystivske deposit . The development of the FYM mine fully utilises known and existing technology and infrastructure . FYM has an approximate mine life beyond 2055 based on current annual output
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