REG - Ferrexpo plc - Operational Update

FerrexpoAnnouncement

25/02/2022 07:16

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RNS Number : 8363C  Ferrexpo PLC  25 February 2022

 

25 February 2022
 
 

 

 

Ferrexpo plc

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

Operational Update

 

 

Further to the Group's announcement yesterday morning, Ferrexpo plc (LSE:
FXPO), the world's 3(rd) largest exporter of high grade iron ore pellets to
the global steel industry, hereby provides an update on its operations in
Ukraine.

 

Export activities at the port of Pivdennyi, located in southwest Ukraine,
where the Group's berth is located for shipping pellets to customers, have
been temporarily suspended following notification from the port authorities.
As a result, the Group's marketing department has issued force majeure notices
to certain customers that were due to receive the Group's products via
oceangoing vessel in the near term.

 

The Group's mining and processing operations, which are located adjacent to
the city of Horishni Plavni in central Ukraine, continue to operate. The Group
has the ability to stockpile its iron ore pellets at site, whilst Ukraine's
logistic networks continue to experience disruption.

 

The Group's continued primary focus remains the safety of its workforce in
Ukraine. Further updates will be made as and when appropriate.

 

For further information, please contact:

 Ferrexpo:
 Rob Simmons      r.simmons@ferrexpo.ch     +44 207 389 8305
 Tavistock:
 Jos Simson       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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