Zhevago wants to compete with Rio Tinto

The Ukrainian iron ore magnate Konstantin Zhevago declares to the European press that he wants to master new foreign markets from South America to Australia.

The London Financial Times reports the record financial results of the Ukrainian iron ore company Ferrexpo, which is owned by the Ukrainian oligarch Konstantin Zhevago.

Over the past few days, there has been an increase in demand for Ferrexpo shares on the London Exchange. The newspaper also reports, with reference to the conversation with the Zheevago itself, that his company is interested in the acquisition of iron ore assets outside Ukraine.

According to Zheevago, the main goal of Ferrexpo is to become a champion in Eastern Europe, but there are not enough iron ore deposits. Therefore, the owner of Ferrexpo told the London publication that "we are looking for wherever Iron ore, in Canada, Australia, and Brazil."

Konstantin Zhevago also told reporters that those who want to buy Ferrexpo should be prepared to offer an “incredible amount of value”.

Recall that today the second largest production in the world, the Rio Tinto Iron -Others, announced the losses of more than 70 percent of net profit and intentions to continue the program for reducing expenses and turning investments. The general director of the Anglo-Australian company obviously does not know something, as he plans to sell as many idle assets around the world as possible.

As you know, Rio Tinto, working in conditions of normal competition, reduced iron ore sales by 3.2 percent to 24 billion 500 million dollars, profit - by 18 percent to $ 2,229 million and net profit - by 71 percent of $ 1 billion.