TIDMFXPO

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                                   +44 207 920 3150 
    Gareth Tredway   ferrexpo@tavistock.co.uk    +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 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDTAMFTMTATMIT

(END) Dow Jones Newswires

February 25, 2022 02:01 ET (07:01 GMT)

Ferrexpo (LSE:FXPO)
Historical Stock Chart
Von Jun 2024 bis Jul 2024 Click Here for more Ferrexpo Charts.
Ferrexpo (LSE:FXPO)
Historical Stock Chart
Von Jul 2023 bis Jul 2024 Click Here for more Ferrexpo Charts.