British Ferrexpo plc, which controls in Ukraine, in particular, Poltava and Yeristovo mining and processing plants, increased capital investments by 75.2% in 2021 compared to 2020, to $361 million from $206 million.
According to an annual report released by the company on Tuesday, in 2021, the capital investment per tonne of produced products was $160/tonne, while in 2020 this figure was $109/tonne.
At the same time, it is specified that last year, following the projects to increase the capacity of the processing plant (in 2020), the company began to modernize and increase the capacity of its granulator (pelletizer).
Of the $361 million, maintenance and capital expenditures for modernization totaled $113 million in 2021 (2020 – $103 million), including investments in all of Ferrexpo’s core business units. At the same time, investments were directed to the group’s concentrator and granulator, including an increase in capacity – the costs amounted to $111 million (in 2020 – $34.3 million). In addition, Poltava Mining has invested $34 million in a press filtration plant, which is scheduled for completion in 2022.
Additional capex areas are stripping for $69 million in 2021 (2020 – $14 million) and $6 million invested in infrastructure, development and exploration of the Belanovo field (Belanovo Mining), Haleschynske and Pivnichne fields (2020 – $6 million).
In addition, 2022 marks the 15th anniversary of the listing on the London Stock Exchange. During this time, the company has invested more than $3 billion in production, becoming the world’s third largest exporter of iron ore pellets, and is also starting to supply products with a higher iron content (67% Fe) to global markets.
The Group continues to invest and develop its assets, the report states.
After the completion of the initial upgrade of the pelletizing lines, it is planned to enter the next phase of growth, which will increase production of pellets by 3 million tonnes over the next three years. In October 2021, a decision was approved to focus on ore processing and high iron product operations while maximizing production and customer satisfaction.
At the same time, the company intends in the future to increase the total volume of ore production from 125 million tonnes in 2020 to about 265 million tonnes, spending $180 million on this. It is planned to invest $240 million to increase the capacity of crushing equipment and beneficiation to more than 45 million tonnes – contracts have already been signed with Metso and Weir Minerals.
In addition, to increase the capacity of one granulator line (out of four) by 3 million tonnes, investments will amount to $181 million.
It is planned to spend $28 million to solve logistics issues for transporting additional 3 million tonnes of pellets, which will require increasing the capacity of its port and purchasing additional wagons.
At the same time, the report states that investments to increase production by about 25% of existing capacities have been temporarily suspended by the group due to the war in Ukraine, but projects will be resumed after the situation in the country is clarified.
The World Health Organization (WHO) handed over 20 all-terrain ambulances to Ukraine’s Ministry of Health, capable of operating even in the most damaged and hard-to-reach areas, the WHO press service in Ukraine said Monday.
In addition, WHO has already delivered 393 tonnes of medical supplies and equipment to Ukraine. Of this amount, 167 tonnes have already reached their destination, mostly in the east, south and north of the country.
President of Ukraine Volodymyr Zelensky has said that the government should speed up the transportation of fuel from European ports to Ukrainian consumers.
“The key task for government members is to speed up the transportation of fuel from European ports to our consumers. The volume of such transportation should increase daily,” Zelensky said in a traditional video message on Saturday.
He said that at present, everything is being done to ensure that the state fulfills all social obligations, despite the budget deficit due to the destruction of the Ukrainian economy by the Russian army.
At a meeting with members of the government on Saturday, Zelensky recalled that the issue of fuel shortage was raised last week. “At the beginning of last week, we agreed that we would resolve the issue this week. The week is ending,” Zelensky said.
In turn, First Deputy Prime Minister, Minister of Economy Yulia Svyrydenko called the main problem – the logistics of receiving fuel for Ukraine in Eastern European ports.
“If you look at imports, over the past five days we have been importing exactly the same amount, even a little more, than we consume. Europe was simply not ready: not even in terms of resources, but in terms of logistics. We have a bottleneck – these are ports, European ports,” she said.
“We have Gdansk, Gdynia, Swinoujscie, Constanta, Burgas – there is a traffic jam. We asked [Foreign Minister] Dmytro Kuleba to get involved already at the international level – to ask for a green corridor for Ukraine in these ports,” Svyrydenko added.
Ukrainian athletes won thirteen medals on the seventh day of the Deaflympic Games in Caxias do Sul (Brazil), the Ministry of Youth and Sports reported.
According to the press service of the ministry, at the XXIV Summer Deaflympics, the national deaflympics team of Ukraine won 13 awards on the seventh day – 8 gold, 1 silver and 4 bronze.
In particular, the gold medals for Ukraine were won by: Elisaveta Topchanyuk (cycling, criterium), Nazar Levitsky, Anna Fedoseyeva (orienteering, mixed relay), Oleksiy Lazebnik, Inna Afonchenko (ball shooting, 10 m air pistol, mixed), Natalka Ursulenko ( shot put), Maxim Ovcharenko, Roksolana Budnik (table tennis, mixed team), Irina Tereshchenko (swimming, 100 m breaststroke), Dmitry Rudenko, Sergey Drach, Solomiya Kuprich, Kristina Kinyaikina (athletics, mixed relay 4×40) and swimmers Artem Karnysh , Ivan Zinenko, Maxim Dudnik, Vladislav Adamovich in the 4x200m free style relay.
Athlete Yekaterina Potapenko won silver in the heptathlon.
Bronze was won by Nikolay Nosenko (athletics, 100m), Vladislav Kremlyakov (swimming, 50m backstroke), Maria Levanovich (taekwondo, up to 67 kg) and Gennady Zakladnoy and Yulia Khodko in table tennis among mixed teams.
In general, the national Deaflympic team of Ukraine won 77 medals: 39 gold, 16 silver and 22 bronze, and continues to occupy a leading position at the Summer Deaflympiad.
Ukraine and Canada will return to work on expanding the Free Trade Agreement (FTA) and complete work on it in the coming weeks, the Ministry of Economy announced following an online meeting between First Deputy Prime Minister of Economy Yulia Svyrydenko and Minister of International Trade, Export Promotion and Small Business Canada Mary Ng.
“During the negotiations, government representatives decided to return to work on expanding the FTA Agreement between Ukraine and Canada and complete developments over the coming weeks,” the ministry said on its website on Sunday.
According to Svyrydenko, Ukraine is counting on Canada’s support in overcoming the food crisis provoked by the blocking of Ukrainian exports through seaports.
She said that an important step towards Ukraine could be the abolition of trade duties on Ukrainian goods by Canada following the EU and the UK.
“This will help exporters increase the volume of exports of products and thereby strengthen the Ukrainian economy and the defense of our state,” Svyrydenko was quoted as saying in the press release of the ministry.
US President Joseph Biden announced another security assistance package that will provide Ukraine with additional artillery ammunition, radars and other equipment.
“Today, the United States continues to provide strong support to the courageous people of Ukraine defending their country. I am announcing another security assistance package that will provide Ukraine with additional artillery ammunition, radar and other equipment,” he tweeted on Friday evening.
The White House website also indicates that there are almost no funds left to send aid to Ukraine and prompt approval of funding by Congress is required.
“With today’s announcement, my administration has nearly exhausted the funding that can be used to send security assistance to Ukraine through a reduction authority. For Ukraine to succeed in this next phase of the war, its international partners, including the US, must continue to demonstrate our unity and our determination to ensure a continuous flow of weapons and ammunition to Ukraine. Congress must quickly provide the requested funding to strengthen Ukraine on the battlefield and at the negotiating table.
