Ferrexpo is principally involved in the production and export of iron ore pellets to the global steel industry. At the core of its business is the Ferrexpo Poltava Mining (FPM) operation, with approximately 20 billion tons of iron ore resource, based on the banks of the river Dnieper in central Ukraine. Sales and logistics are carried out by a specialist marketing division, headquartered in Switzerland, with further offices in Shanghai, London and Kiev. Principal customers are in Western, Central and Southern Europe, China and other parts of Asia. In 2007, the company produced 9.1 million tonnes of pellets.