Ferrexpo board of directors has appointed Nikolay Klavdiyev the group chief financial officer. Since 2007, Klavdiyev has been the Poltava Mining and Processing Works CFO. The current acting CFO Roman Palivoda has decided to leave the group after 13 years to have other opportunities of career growth. Klavdiyev will start working from August 4, while…
In August, Poltava Mining and Processing Works produced the 500-millionth ton of iron ore concentrate. “The first ton was produced in 1970, and in 50 years of successful operation, PGOK has manufactured 500 million tons”, the company chairman Victor Lotous said. Since the late 1990s, PGOK as implemented over 10 important projects valued at $50…
Poltava Mining and Processing Works has commissioned a new technological complex “Section No. 9” of the processing factory. Investments in the project exceeded 3 billion UAH ($100 million). This allowed paying some 400 million UAH to the budget and will bring 300 million UAH each year. The project will enable the company to additionally produce…
Pechersk District Court of Kyiv has again set limitations on 50.3% of Poltava Mining and Processing Works shares. “The shares belong to Ferrexpo AG Switzerland, the sole shareholder of Ferrexpo Poltava Mining. Ferrexpo AG will soon appeal this move”, Ferrexpo plc has announced. The new court decision is similar to the one dated January 31,…
Poltava Mining and Processing Works will invest $34 million in the construction of a covered warehouse for iron ore concentrate. The company has already finished earth and foundation works and has almost completed the assembly of metal structures and equipment. The construction presupposes the use of 7.5 thousand tons of metal structures. The warehouse will…
A Ukrainian court has limited 50.3% of Ferrexpo Poltava Mining (FPM) shares, belonging to Ferrexpo AG Switzerland, the only shareholder. Ferrexpo AG says the arrest does not affect the ownership of the shares, but prohibits their transfer. The group believes this is connected with issues of the company beneficiary Konstantin Zhevago and a company he…
Ukrzaliznytsia (Ukrainian Railways) continues preferring Russian transit cargo to local transportation, the letter of the Poltava Mining and Processing Works commercial director Dmitry Spatar to the minister of infrastructure Vladislav Krikliy says. “Despite the promise to decrease the volume of transit cargo from 240 thousand tons to 40 thousand tons, an increase of transit cargo…
In October Poltava Mining and Processing Works produced 975 thousand tons of pellets, down by 3% from the target. The reason of the output decrease is the unscheduled repairs. Instead of 60 hours of idle time, the pellets shop has been idle for 172 hours. The company management believes that this year down time will…