RCS - Ferrexpo plc - Humanitarian Fund Expanded to US$7.5 Million

FerrexpoAnnouncement

14/03/2022 07:00

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RNS Number : 6361E  Ferrexpo PLC  14 March 2022

 

 

14 March 2022
 
 

Ferrexpo plc

("Ferrexpo" or the "Company" or the "Group")

 

Ferrexpo Expands Funding for Humanitarian Fund to US$7.5 Million

 

Ferrexpo plc (LSE: FXPO), the world's third largest exporter of high grade
iron ore pellets to the global steel industry, with operations in central
Ukraine, announces that it has increased the level of approved funding for its
Humanitarian Fund ("the Fund"), to US$7.5 million to provide further support
to local communities close to the Group's operations, as well as broader
support for communities throughout Ukraine.

 

Following the announcement of the establishment of the Fund on 7 March 2022,
the Group has been made aware of further projects and initiatives to support
the humanitarian relief effort within Ukraine and the Group's Board of
Directors has moved to quickly increase the Fund's approved budget
accordingly. Examples of projects that sit within the Fund's activities
include the Group's efforts to coordinate the supply and distribution of food
packages, the sourcing of basic medical supplies for local hospitals and
medical facilities and the provision of meals for local residents of
communities surrounding to the Group's operations. The situation in Ukraine is
rapidly evolving and the Fund is intended help enable the Group to react
quickly to meet the increased needs of Ukraine and our workforce and their
families at this difficult time. Further details of the initiatives covered by
the Fund to date can be found on the Group's website here
(https://www.ferrexpo.com/responsibility/supporting-communities/humanitarian-projects/)
.

 

Ferrexpo's priority remains the safety of its workforce and local communities,
and the Group is working to tackle the humanitarian crisis that is emerging
across Ukraine.

 

For further information, please contact:

 

 Ferrexpo:
 Rob Simmons      r.simmons@ferrexpo.ch (mailto:r.simmons@ferrexpo.ch)        +44 207 389 8305
 Tavistock:
 Jos Simson       ferrexpo@tavistock.co.uk (mailto:ferrexpo@tavistock.co.uk)  +44 207 920 3150

 Gareth Tredway                                                               +44 7785 974 264

 

 
About Ferrexpo:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group's iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo's operations have been supplying the global steel industry for over 40 years and in 2021 the Group produced 11.2 million tonnes of iron ore pellets, placing Ferrexpo as the world's 3(rd) largest exporter of pellets to the global steel industry with a market share of approximately 9%. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit
www.ferrexpo.com (http://www.ferrexpo.com)
.

 

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