Ferrexpo PLC (LSE:FXPO) said it will increase funding for its Ferrexpo Humanitarian Fund by US$5mln to US$12.5mln in response to the humanitarian crisis unfolding in Ukraine, with assistance being given to communities across the country.
The FTSE 250-listed company, which is the world's third-largest exporter of iron ore pellets to the steel industry, said the fund, which was set up in early March, has so far provided power generators, fuel, water tanks, food supplies, ambulances and medical equipment.
"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, and our wide and diverse business network to source goods and services for those in need," said chief executive Jim North.
Other projects that the fund has worked on have included renovation work and provision of facilities for refugee accommodation; assisting with the delivery of humanitarian goods from Europe to Ukraine; the relocation of animals from zoos in eastern Ukraine; purchasing electronic equipment to enable locals to document the damage inflicted from Russia's invasion.