The Group's strategy is to increase its production of iron ore pellets and to enhance overall value for its shareholders. The Group's principle strategy is to commercialise its significant unexploited iron ore reserves by expanding production, increasing sales into growing markets for iron ore and extracting value through the Group's advantageous logistical position and its enhanced operational capability. The Group intends to pursue this strategy by:     

• implementing best practice mine and facilities operations at Ferrexpo Poltava Mining (FPM), enhancing efficiency and reducing operating costs;
  
  
• increasing mine output by optimising the extraction of iron ore from the current Gorishne-Plavninskoye and Lavrikovskoye deposits and developing new mines on the nearby Yeristovskoye, Belanovskoye and Galeschinskoye deposits, and maximising production by upgrading the existing processing and pelletising assets;
  
  
• building on the Group's existing global customer base to grow market share and support the Group's increased production profile;
  
  
• continuing to develop the Group's logistical capabilities to match its growing production;
  
  
• reducing the Group's exposure to energy market volatility; and
  
  
• continuing to evaluate the most appropriate method of maximising the Group’s value by accelerating the commercialisation of the Company’s extensive undeveloped ore deposits, in particular the Belanovskoye and Galeschinskoye deposits (for which the Group has extraction licences) and four further deposits for which it has exploration licences.