KIEV, Nov. 23 - Ferrexpo Plc, which owns 86% of Ukraine's top iron ore pellet producer Poltava Mining, has launched a $158 million project to expand production at the Horishne-Plavninske and Lavrikovske (GPL) deposits to about 32 million tons of ore per year by 2011 from the current 28 million tons.

The project will also entail extending the life of the mine at these production levels to at least 2035. This expansion and mine life extension are in addition to that detailed in the business plan associated with Ferrexpo's listing in London in June, the company said in a press release.