On February 24, the Poltava Regional Commercial Court opened bankruptcy proceedings against Poltava Mining and Processing Plant. This was announced in a statement by its parent company, Ferrexpo, on the London Stock Exchange. The bankruptcy was initiated by Maxi Capital Group, which won a 4.7-billion UAH judgment against Poltava Mining and Processing Plant in January…
A civilian claim for 157 billion UAH ($3.78 billion) has been filed against Ferrexpo Poltava Mining. The claim was filed due to alleged illegal extraction of mineral resources and sale of production wastes. Ferrexpo refutes all accusation claiming there has been “no illegal extraction”. According to the company, the claim did not affect its operation.…
In April-June, Ferrexpo produced 1.67 million tons of iron ore, up by 42.7% YoY, but down by 18.5% MoM. In particular, pellets output amounted to 1.48 million tons, down by 18.2% QoQ, but up by 39.9% YoY. The access to the Black Sea marine corridor allowed the company carrying out deliveries from Ukrainian ports. In…
In January-March, Ferrexpo manufactured 2.054 million tons of iron ore products, up by 203% QoQ. Two to three of four pelletizing lines were used in manufacture. Pellets production grew by 189% QoQ, to 1.81 million tons. The group also produced 240.5 thousand tons of concentrate with iron content of 67%, up by 380%. Sales amounted…
In 2023, Ferrexpo paid $465 thousand of dividends. As the company shares are in GBP, dividends have also been paid in the British currency. Moreover, in 2023, the company paid $39.517 million on 2021 interim dividends ($0.066 per share), $38.679 million of final dividends for 2021 ($0.066) and $76.899 million of interim dividends for 2022…
In 2023, Ferrexpo received a loss of $85 million, as opposed to a profit of $220 million in 2022. Revenue decreased by 47.8%, to $652 million. EBITDA dropped 5.9-fold, to $130 million, and capital investments – by 31%, to $101 million. Pellets manufacture fell by 36.5%, to $3.8 million. (Ukrainian metal)
A Ukrainian court has put limitations on corporate rights of all Ukrainian daughter companies of Ferrexpo plc. The limitations concern 49.5% of shares of the daughter companies, except for TIS-Ruda LLC and Nova-Logistics LLC, where the limitations amount to 24.7% and 25.2% respectively. The limitations prohibit the transfer of share. Previously, the shares were frozen…
In 2022, Ferrexpo decreased pellets manufacture from 12 million to 6.18 million tons. Last year, 4.15 million tons were produced. The drop is due to transportation problems. Around half of the group products were transported via the Black Sea ports to the Asian market. But in 2022, the way was blocked. (Ukrainian metal)