The Pecherskiy Court of Kyiv has ruled to place top managers of Poltava Mining and Processing Works and a straw company into a pre-trial detention center with the alternative of a bail. All the six are suspected of embezzlement. The organizer of the criminal scheme has to pay 60 million UAH, and the rest –…
Shevchenkovskiy district court of Kyiv has arrested bank accounts of Poltava Mining and Processing Works. All the payment operations of the company, except for the payment of taxes, have been suspended. “The court took the decision based on the claim of the Prosecutor General’s Office under a case of rent payment evasion,” the company press…
The chief accountant of Poltava Mining and Processing Works is suspected of the company not paying taxes for 2 billion UAH. According to the State Security Service, in 2018-2021 the suspect entered false data into official documents of the company, in particular on the payment for the use of the iron ore deposit. During this…
Novokramatorskiy Machine-Building Works has produced a modernized cone crusher for Poltava Mining and Processing Works. This is the second machine produced by NKMZ for PGOK. The first was commissioned in summer of 2021. The new crusher has the capacity of 5.5 thousand tons per hour, up 1.5-fold compared with the non-modernized one. Last year, NKMZ…
Ferrexpo board of directors has appointed Nikolay Klavdiyev the group chief financial officer. Since 2007, Klavdiyev has been the Poltava Mining and Processing Works CFO. The current acting CFO Roman Palivoda has decided to leave the group after 13 years to have other opportunities of career growth. Klavdiyev will start working from August 4, while…
In August, Poltava Mining and Processing Works produced the 500-millionth ton of iron ore concentrate. “The first ton was produced in 1970, and in 50 years of successful operation, PGOK has manufactured 500 million tons”, the company chairman Victor Lotous said. Since the late 1990s, PGOK as implemented over 10 important projects valued at $50…
Poltava Mining and Processing Works has commissioned a new technological complex “Section No. 9” of the processing factory. Investments in the project exceeded 3 billion UAH ($100 million). This allowed paying some 400 million UAH to the budget and will bring 300 million UAH each year. The project will enable the company to additionally produce…
A Ukrainian court has limited 50.3% of Ferrexpo Poltava Mining (FPM) shares, belonging to Ferrexpo AG Switzerland, the only shareholder. Ferrexpo AG says the arrest does not affect the ownership of the shares, but prohibits their transfer. The group believes this is connected with issues of the company beneficiary Konstantin Zhevago and a company he…