In 2024, Ukrainian company Ferrexpo continued the eco-modernization of its production processes, which brought it closer to its decarbonization and responsible resource consumption goals.
GMK Center reported on the main markers of Ferrexpo's eco-strategy, citing data from the company's 2024 Responsible Business Report.
Movement towards minimizing emissions
Ferrexpo reported that, compared to 2023, it managed to reduce direct greenhouse gas emissions per unit of production by 9%. The company directly attributes this outcome to the following factors:
- increasing production efficiency;
- continuation of the transition to biofuel instead of natural gas.
Leadership in European eco-rating
Based on the results of reducing emissions intensity, Ferrexpo was included in the "Climate Leaders of Europe 2024" rating by the Financial Times and Statista. The company particularly values this achievement, which was made despite the circumstances of wartime.
A step towards Net Zero in mining
The company continues to implement its strategic Green Mine project. It aims to automate mining operations and electrify processes. This transition is in line with the company's long-term environmental strategy and will also reduce production costs.
The flagship project is being implemented in collaboration with MEC Mining. Together, they have identified the main sources of emissions and measures that can minimize them. In particular, this involves replacing equipment with battery-powered equipment, additionally equipping heavy equipment with trolley support systems, etc. The company has identified an area for experimenting with trolleys. Discussions on financing options are currently underway.
Water reuse
In line with its policy of responsible resource management, the company has minimized its impact on local water sources. The drainage of quarries, i.e., the removal of accumulated water, provided the assets with 98% of the required water intake. 98% of the process water was recycled by the company's processing plant.
Source: gmk.center
EcoPolitic reported that Ferrexpo was included in the "Climate Leaders of Europe" rating for the third time this year.
The iron ore pellet producer plans to invest $3.3 billion in decarbonization by 2050.
EcoPolitic also analyzed how Ukrainian metallurgical companies are implementing green technologies during the war.
