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Yeristovo deposit of ferruginous quartzite is located in Kremenchug district, Poltava Region, 12 kilometers to the south-west from the railway station “Galeshchina” and 30 kilometers to the north-east from the city of Kremenchug. The deposit was thoroughly studied in 1977-1979 by Kremenchug State Geology Company «Ukrpivdengeologia» up to 700m depth. In the south Yeristovo deposit borders on Lavrikovskoe (Ferrexpo Poltava Mining) and in the north – on Belanovo deposit of ferruginous quartzite (Ferrexpo Belanovo Mining).

The mineral resources have been developed as an open mine based on the special royalty licence № 2768 dd August the 27th, 2002, and within the mining land allotment № 588 dd December the 12th, 2002, with the total area of 604,2 hectares.

There are three industrial sub-formations of ferruginous quartzite distinguished within the deposit. They are К25, К22 and К233. The biggest sub-formation is К25. The grades К25, К22 and К233 are processed blended proportionally to their capacity and with further production of iron ore concentrate.

As for the external characteristics, petrographic data, chemical and mineralogical composition the ferruginous quartzite is divided into two main types: magnetite and cummingtonite magnetite. Meanwhile, magnetite is divided into red and grey mineral subtypes.

At first, Yeristovo mineral resources were estimated by State Committee of Natural Resources during the Soviet times, state resolution № 8500 dated from April the 18th, 1980, with the depth of 500m, categories В + С1 – 822 163 th t and category С2 – 49 961 th t, and the average iron content Fetotal – 33,37% and Femag – 26,43%. The approved resources were calculated based on final mining parameters endorsed by the Soviet Union State Committee of Natural Resources, state resolution № 1444-К dd March the 28th, 1980.

In 2015 the resources were re-assessed by State Committee of Natural Resources in Ukraine, state resolution № 3334 dd March the 13th, 2015, and the following capacity was approved:

Sub-formations Resource category Deposit Capacity (th t)
Balanced Undefined commercial/industrial value Fe total (%) Fe mag (%)
Resource code
111 122 332
Within the final mine boundary (up to 500m depth) В 274 653 34,52 28,15
С1 533 816 33,27 26,20
В+С1 808 469 33,70 26,88
С2 49 979 27,07 17,81
Beyond the final mine boundary С2 524 694 32,59 25,89

Ferrexpo Yeristovo Mining, JORC Reserve/Resource Statement as at 01.01.2019:

Type Category Capacity,MT Fe Content, %
Fetotal Femag
Reserves Proved 195,0 34,00 27,00
Probable 416,0 32,00 25,00
Total Reserves 611,0 32,66 25,66
Resources Measured 200,0 34,00 27,00
Indicated 556,0 33,00 26,00
Inferred 364,0 30,00 23,00
Total Resources 1 120,0 32,22 25,22