Investing in growth and quality

Through significant investment since listing in 2007, Ferrexpo has transformed itself into the third largest iron ore pellet exporter globally.

Over US$3.0 billion invested

The Group has invested over US$3.0 billion in its operations since listing in 2007, developing the Group's world class assets to produce premium iron ore products for steelmakers worldwide. In the years since listing, the Group has evolved to become the third largest exporter of iron ore pellets globally, and has upgraded production to be exclusively focused on high grade forms of iron ore. Please see the chart below for amounts invested in each year, with details of each year's investment projects provided in the table below.

Chart: capital investment since listing (US$ million)

Major projects by year


  • Ferrexpo lists on the London Stock Exchange.


  • Investment in growth: preliminary feasibility study completed for FYM with development beginning shortly thereafter.


  • Investment to modernise: delivery of CAT 789 fleet of haul trucks for mining at FYM.


  • Investment in quality: exports increase to 99% of sales, reflecting increasing pellet quality.
  • Investment in logistics: acquisition of logistics subsidiary First-DDSG to provide additional logistics capacity for barging pellets to customers in Central Europe.


  • Investment in growth: first iron ore achieved at FYM, whilst the Group also successfully places first Eurobond in London market.


  • Approval for multi-year investment in quality and volume upgrade projects.
  • Investment in logistics: trans-shipment vessel Iron Destiny commissioned for loading Capesize vessels.


  • Investment in logistics: acquired additional 267 railcars, taking total fleet to 2,200, and ordering a further 300 railcars.
  • Investment in communities: construction and commissioning of 212 apartments under local housing programme.


  • Investments to modernise: workshops completed at FYM for mining fleet.


  • Investment in quality: growth programme delivers increase in high grade pellets to 89% of total production (2014: 49%).


  • Focus on sustaining capital investment, with spot iron ore (62% Fe) prices declining to US$58/t and pellet premiums reaching a low of US$11/t.


  • Investment in growth: pre-stripping activities commence at the Group's third mine - FBM, as well as major maintenance programme on the Group's second pelletiser line.


  • Investment in growth: commissioning of medium and fine crushing plant ("MFC-1") and major refurbishment of third pelletiser line.


  • Drilling work completed that delivers in 27% uplift in Ore Reserves.


  • Investment in growth: concentrator expansion project to lift concentrator capacity above 35MTPA.
  • Investment in logistics: Port of Pivdennyi expanded to enable loading of first Newcastlemax vessel for a single customer.


  • Investment in growth: pelletiser expansion project to provide additional pelletiser capacity.
  • Investment in growth: increase in mine stripping activity ahead of Wave 1 Expansion.
  • Investment in quality: press filtration complex to improve pellet quality.