Incorporation: 14 July 2008
Purpose: commercial development of the Yeristovo iron ore deposit
Ordinary business: exploration and operation of the mineral deposits; extraction and processing of iron ore and sale of the output produced (concentrate and pellets) as well as other minerals and associated by-products; drilling and blasting to facilitate mining operations; construction activities and lease of construction machinery, designing, research and execution of all works related to earthmoving, civil engineering and construction.
FYM is designed to mine 28 million tonnes of crude ore per annum and construct Crusher and Concentrator Plant to process ore and produce up to 10 million tonnes of iron ore concentrate (dry) with 67,3%.Fe content.
Given the financial constraints, Crusher and Concentrator construction is now on hold and FYM ore mined is processed by FPM – currently ca. 1.3 mio tn of ore per month is supplied via 3 railway reloading points to FPM.
As of end of 2015, 113 mio m3 of material removed project to date, with first ore reached in 3Q 2012 and processing at FPM started late 2012.
Current pit parameters:
Length 2 050 m
Width 1 000 m
Depth 130 m (operations held at -60 m level)