CAPEX and new contract

RNS Number:5745P
Ferrexpo PLC
07 March 2008


FERREXPO PLC -FURTHER CAPITAL EXPENDITURE FOR THE YERISTOVSKOYE MINE DEVELOPMENT
AND NEW LONG TERM CONTRACT

Ferrexpo plc ("Ferrexpo") is pleased to announce that it has committed US$55
million for the purchase of an initial fleet of mining dump trucks and related
equipment required for the commencement of the overburden stripping operation at
the new Yeristovskoye mine development. The Board has approved the purchase of
sixteen 180-tonne capacity trucks and related equipment. Delivery is expected in
mid November 2008.

Ferrexpo is pleased to further announce that it has signed a long term supply
contract with a new export customer, located in close proximity to Ukraine,
which is expanding iron and steel production. The contract is for the supply of
approximately 1.3 million tonnes of iron ore pellets over the next three years.

Mike Oppenheimer, Ferrexpo CEO, said:

"The procurement of further mining equipment for the development of
Yeristovskoye represents another critical investment in our major growth
projects, enabling us to keep to our aggressive mine development schedule. Our
new long term contract is of strategic importance, as it broadens our marketing
network to include yet another market where Ferrexpo enjoys a significant
logistical and competitive advantage. This is the latest in a series of
initiatives to increase the number of customers in new markets that we supply in
terms of long term contracts, ahead of the planned acceleration of our major
growth projects."

For further information, please contact:

Ferrexpo:                 +44 207 389 8302

Finsbury:                 +44 207 251 3801

Robin Walker
Alex Simmons


Notes to Editors:

Ferrexpo is a Swiss headquartered resources company with assets in Ukraine,
principally involved in the production and export of iron ore pellets, used in
producing steel. Current output is over 9 million tonnes, approximately 85% of 
which is exported to steelmakers around the world. The Group is currently 
undertaking a significant growth programme and listed on the main market of the 
London Stock Exchange in June 2007 under the ticker FXPO. For further 
information please visit www.ferrexpo.com.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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