Ferrexpo distances itself from former chief executive after arrest
“The board of directors of Ferrexpo is seeking to clarify the situation and will update the market as appropriate," the company said in a statement
Company
Ferrexpo PLC
LON:FXPO
Ferrexpo PLC is a resource company, headquartered in Switzerland, with assets in Ukraine. It is principally involved in the production and export of iron ore pellets, which are used in the manufacture of steel. Its asset base comprises one of the largest iron ore resources in the world. It produces around 10mln tonnes of iron ore pellets per year and with several growth projects in place is aiming to double future production. It is committed to becoming a leading global supplier of iron ore pellets, providing outstanding service to its customers and strong returns to its shareholders. It became the first Ukrainian company to be listed on the main market of the London Stock Exchange (ticker: FXPO) following a successful flotation on 15 June 2007, which made it the only pure-play iron ore company currently listed on the London Stock Exchange.
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Ferrexpo says Ukraine plant gets power back after Russian missile power line attacks
However, power is limited so the group has focused on drawing down its stockpile to supply to customers
Ferrexpo suspends production after Russian missile attacks damage Ukraine's power lines
Limited power supply is available for iron ore production as it is being prioritised for essential services and local communities
Ferrexpo production falls; eight staff dead serving in Ukraine armed forces
War-related constraints are affecting logistics providers in Ukraine, while the railway network was also constrained by the increase of shipments of grain during the annual harvest season
Ferrexpo says Ukraine court rules purchase of stake in FPM is 'invalid'
Ferrexpo Poltava Mining is the operator of the Poltava mine, Ferrexpo's largest open pit operation
Ferrexpo posts 44% drop in first-half profit as war in Ukraine takes its toll
Profits fell due to Russia’s invasion of Ukraine, higher costs and a deteroration in global iron ore markets
Ferrexpo completes external assurance process on key safety metrics, greenhouse gas emissions
Ferrexpo shares were up 9.4%, outperforming the FTSE-250 index
'Significant value' in Ferrexpo but for war in Ukraine, says broker
Output was 7% lower than the broker’s original forecasts for the second quarter
Ferrexpo to curb output on logistical problems in Ukraine and higher inventories
"We are lowering our short-term production schedule for the summer months, and we will look to increase production once we have greater clarity on logistics going forward,” said chief executive Jim North
Ferrexpo to pay final dividend of US$0.066 even as Ukraine crisis continues
Ferrexpo is a major producer of iron ore for the steel industry
Ferrexpo increases its humanitarian fund in response to Ukraine war
"Our efforts through our Humanitarian Fund are focused on providing direct and relevant financial support to a number of initiatives as we become aware of them, utilising our experience of operating in Ukraine," said Ferrexpo CEO Jim North
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Is there value in Ukraine-based Ferrexpo? Credit Suisse thinks maybe if you cant take the risk
The shares represent a 30% discount related to the Ukraine conflict, it adds.
Ferrexpo unsure when it will be able to complete work on 2021 results
"The extension to 30 June 2022 will allow us additional time to work towards completing the necessary workstreams for the publication of our full-year results"
Ferrexpo establishes a humanitarian fund to support Ukraine
US$1.5mln has been allocated so far, with more funds to be provided if necessary
Ferrexpo delays full year results, as Ukraine crisis bites
Ferrexpo is the world's third largest exporter of high grade iron ore pellets to the global steel industry.
Ferrexpo issues force majeure notices to certain customers
Shares in Ferrexpo, which plunged yesterday, were up 4.9% at 149.2p in the first hour of trading on Friday.
Ferrexpo appoints iron ore veteran as permanent chief executive
As CEO, North published a formal shareholder returns policy, inaugural carbon reduction targets, and announced the wave one expansion which will add a further three million tonnes of pellet capacity