Ferrexpo Invests USD 158 mln in Iron Ore Extraction
23 November 2008
According to a company press-release, Ferrexpo (FXPO LN) will invest USD 158 mln to boost iron ore extraction volume from its two main ore deposits up to 32 mln mt a year by 2011. This will help load Poltava Iron Ore’s (PGOK: U/R) unused capacity and boost output of pellets by 1.3 mln mt each year. On this news, Ferrexpo surged 9% in yesterday’s LSE trading.
