Ferrexpo

Ferrexpo plc
Company typePublic
LSE: FXPO
IndustryIron Ore Mining and Processing
Founded1960
HeadquartersBaar (ZG), Switzerland
Horishni Plavni, Ukraine
Key people
Lucio Genovese, Chairman
Jim North, CEO
ProductsIron Ore Pellets
RevenueDecrease $651.8 million (2023)[1]
Decrease $71.1 million (2023)[1]
Decrease $(84.8) million (2023)[1]
SubsidiariesPJSC Ferrexpo Poltava Mining,

LLC Ferrexpo Yeristovo Mining,

LLC Ferrexpo Belanovo Mining
Websitewww.ferrexpo.com
Ferrexpo unveiled Europe's first large scale autonomous haul trucks (CAT 793D) at its Yeristovo mine in late 2020.

Ferrexpo plc is a Swiss-based commodity trading and mining company which is the third largest exporter of iron ore pellets in the world. Ferrexpo's operating base is in central Ukraine, where it operates three iron-ore mines and an iron ore pellet production facility. The company's trading office is located in London where it is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is also a constituent of the FTSE4Good Index.

History

The business was founded by the Soviet government in 1960 as the "Poltava Mining and Extraction Combinat" to exploit iron ore reserves in Horishni Plavni (formerly Komsomolsk), Ukraine.[2] In 1977 it started selling its product in the form of iron ore pellets.[2]

In June 2007, Ferrexpo plc was listed on the London Stock Exchange, producing 8.6 million tonnes of iron ore pellets in the year prior to listing.[3]

In 2008 and 2009 the company established additional new complexes around Horishni Plavni and Kremenchuk. In 2011, the Company opened its second iron ore mine, the Yeristovo mine, which is located immediately north of the Company's main iron ore mine - the Poltava iron ore mine. Upon opening Yeristovo, Ferrexpo became the first company to open a new mine in Ukraine since the country's independence.[4]

Ferrexpo produces high grade iron ore pellets, which are a premium product for use in the steel industry.

In March 2019 the company delayed publication of its results pending an investigation into charitable donations in Ukraine.[5] In April 2019 its auditors Deloitte resigned, with Ferrexpo's former chief financial officer selling £400,000 of shares the day before the announcement.[6] In August 2019 Ferrexpo announced that the charitable donations may have been misappropriated; it had donated $24 million to the charity in 2017 and $9.5 million in 2018.[7] In October 2019, the CEO, Kostyantyn Zhevago, stood down from his post, following allegations of the embezzlement of $113 million from the Finance & Credit Bank.[8][9][10]

Following Zhevago's departure, Jim North became acting CEO; the company announced his appointment as permanent CEO in February 2022.[11]

Operations

Ferrexpo produces iron ore pellets, which are used in the global steel industry to produce high quality types of steel. Iron ore pellets are the highest quality form of iron ore that steel producers can utilise, offering steel producers the opportunity to improve blast furnace productivity, whilst simultaneously reducing carbon emissions by at least 30% for every tonne of pellets used instead of the more commonly used sinter fines, which are typically lower grade and require sintering prior to charging into the blast furnace.[12]

The Company, which sells most of its product to steel mills of Central Europe and Asia, is organised into the following units:[13]

The company's mining components are all based in central Ukraine and consist of:

Additionally, the company owns several nearby iron deposits which are not yet being actively exploited. From north to south, these are:

Ownership

The founder, Kostyantyn Zhevago, owns 50.3% of the company.[14] Kostyantyn Zhevago was arrested in December 2022 under an international arrest warrant, he is wanted in Ukraine in a major embezzlement case.[15]

References

  1. ^ a b c "Preliminary Results 2023" (PDF). Ferrexpo. Retrieved 24 March 2024.
  2. ^ a b "Ferrexpo IPO Prospectus" (PDF). 2007.
  3. ^ "UPDATE 1-Iron ore miner Ferrexpo valued at $1.67 bln in IPO". Reuters. 2007-06-15. Retrieved 2021-01-27.
  4. ^ "North sets Ferrexpo on a course for 'carbon neutrality'". IM Mining. 17 December 2020. Retrieved 1 March 2021.
  5. ^ "Ferrexpo delays full-year results amid Ukraine charity probe". FT. 19 March 2019. Retrieved 20 March 2019.
  6. ^ Jolly, Jasper (29 April 2019). "Ferrexpo finance chief sold £400,000 stake on eve of share slump". The Guardian. Retrieved 30 August 2019.
  7. ^ Jolly, Jasper (30 August 2019). "Ferrexpo says funds to Ukrainian charity may have been misappropriated". The Guardian. Retrieved 30 August 2019.
  8. ^ "Ukrainian court bans the sale of Ferrexpo shares while CEO under investigation". Intellinews. 31 January 2020. Retrieved 15 February 2022.
  9. ^ "Ukraine puts Ferrexpo controlling shareholder on international wanted list". Reuters. 15 July 2015. Retrieved 29 March 2022.
  10. ^ "Authorities are hunting for Kostyantyn Zhevago, CEO of Ferrexpo". Ukraine Business News. 11 October 2019. Retrieved 29 March 2022.
  11. ^ "Ferrexpo gives acting chief executive officer Jim North permanent role". Shares Magazine. 15 February 2022. Retrieved 15 February 2022.
  12. ^ "Ferrexpo sets decarbonisation course to 2030 and 205". IM Mining. 11 October 2021. Retrieved 15 February 2022.
  13. ^ "Ferrexpo has attractions despite founder's big slice". The Times. 21 March 2008. Retrieved 3 December 2016.
  14. ^ "Ferrexpo must show its mettle to woo investors". The Times. 10 June 2007. Archived from the original on December 20, 2016. Retrieved 3 December 2016.
  15. ^ "Former Ukrainian MP Zhevago detained in Courchevel - SBI". Retrieved 28 December 2022.

Read other articles:

Deny Muis

Deny Muis Wakil Komandan Komando Pasukan Gerak CepatPetahanaMulai menjabat 16 Januari 2023 PendahuluBudi SumarsonoPenggantiPetahana Informasi pribadiAlma materAkademi Angkatan Udara (1993)Karier militerPihak IndonesiaDinas/cabang TNI Angkatan UdaraMasa dinas1993—sekarangPangkat Marsekal Pertama TNINRP517466SatuanKopasgat (Satbravo 90)Sunting kotak info • L • B Marsekal Pertama TNI Deny Muis adalah seorang perwira tinggi TNI-AU yang sejak 16 Januari 2023 mengemban...

 

Joseph Rosati

Italian-born Catholic missionary Servant of GodJoseph RosatiC.M.First Bishop of Saint LouisNative nameGiuseppe RosatiSeeSaint LouisAppointed20 March 1827Term ended25 September 1843Other post(s) Titular Bishop of Tanagra, Greece (13 February 1822 – 19 March 1827) Vicar Apostolic of Mississippi and Alabama (13 August 1822 – 13 July 1823) Coadjutor bishop of the Diocese of Louisiana and the Two Floridas (14 July 1823 – 17 July 1826) Apostolic Administrator of the Diocese of New Orleans (18...

 

Frederic Augustus Lucas

American curator Frederic A. Lucas in 1911 Frederic Augustus Lucas (March 25, 1852 – February 9, 1929) was a zoologist and taxidermist who served as a curator of the Brooklyn Museum and director of the American Museum of Natural History. He was an expert on the osteology and anatomy of birds. Biography The son of Augustus Henry, a merchant seaman who was captain of a sailing vessel, he accompanied his father on two long voyages, the first (1861-1862) at the age of 9 and the second (1869-187...

Rymosia placida

Rymosia placida Klasifikasi ilmiah Kerajaan: Animalia Filum: Arthropoda Kelas: Insecta Ordo: Diptera Famili: Mycetophilidae Genus: Rymosia Spesies: Rymosia placida Rymosia placida adalah spesies lalat yang berasal dari genus Rymosia dan famili Mycetophilidae. Lalat ini juga merupakan bagian dari ordo Diptera, kelas Insecta, filum Arthropoda, dan kingdom Animalia. Lalat ini biasanya dapat ditemui di tempat lembab. Referensi Bisby F.A., Roskov Y.R., Orrell T.M., Nicolson D., Paglinawan L.E., B...

 

Camptown Races

1850 minstrel song by Stephen FosterCamptown RacesOriginal sheet music coverSong by Stephen FosterWritten1850PublishedFebruary 1850GenreMinstrel show 'De Camptown Races' or 'Gwine to Run All Night' (nowadays popularly known as 'Camptown Races') is a minstrel song by American Romantic composer Stephen Foster. It was published in February 1850 by F. D. Benteen and was introduced to the American mainstream by Christy's Minstrels, eventually becoming one of the most popular folk/Americana tunes o...

 

Orang Maluku

Orang Maluku Thomas Matulessy Martha Christina Tiahahu Johannes Leimena Johannes Latuharhary Peter M. Christian Jacob Elfinus Sahetapy Stepanus Mahury George Toisutta Suaidi Marasabessy Alexander Litaay Bahlil Lahadalia Djauhari Oratmangun Daerah dengan populasi signifikan Indonesia: 2.203.415 (sensus 2010)[1] Maluku1.848.923Maluku Utara687.003Papua82.597Papua Barat78.855Jawa Barat47.886Daerah Khusus Ibukota Jakarta45.146Sulawesi Utara24.942Jawa Timur17.756Sulawesi Selatan15.884N...

Zaman Kamakura

Bagian dari seri artikel mengenaiSejarah Jepang PeriodePaleolitiksebelum 14.000 SMJōmon14.000–300 SMYayoi300 SM – 250 MKofun250–538Asuka538–710Nara710–794Heian794–1185Kamakura1185–1333Restorasi Kemmu1333–1336Muromachi (Ashikaga) Nanboku-chōSengoku 1336–1573Azuchi–Momoyama Perdagangan dengan Nanban 1568–1603Edo (Tokugawa) SakokuPersetujuan KanagawaBakumatsu 1603–1868Meiji Perang BoshinRestorasiPerang Sino-Jepang PertamaPemberontakan BoxerPerang Rusia-Jepang 1868–191...

 

Distretto di Potsdam

Questa voce o sezione sugli argomenti stati scomparsi e Germania non cita le fonti necessarie o quelle presenti sono insufficienti. Puoi migliorare questa voce aggiungendo citazioni da fonti attendibili secondo le linee guida sull'uso delle fonti. Segui i suggerimenti dei progetti di riferimento 1, 2. Distretto di PotsdamInformazioni generaliNome ufficiale(DE) Bezirk Potsdam CapoluogoPotsdam Popolazione1.123.800 (1989[1]) Dipendente da Germania Est Suddiviso invedi Evoluzio...

 

Офион

Офион Пол мужской Супруга Евринома[1] Дети Уран Офион, также Офионей, иногда Опион (др.-греч. Ὀφίων «змей», Ὀφιονεύς) — в древнегреческой мифологии[2] великий змей, царь гигантов; по некоторым мифам — первый владыка Олимпа, сын и муж океаниды Евриномы (Эврином�...

When the Sun Goes Down (lagu Arctic Monkeys)

When the Sun Goes DownLagu oleh Arctic Monkeysdari album Whatever People Say I Am, That's What I'm NotSisi-BStickin' to the FloorSettle for a Draw7Dirilis16 Januari 2006Format 7 12 CD digital download DirekamJuni – September 2005 di Chapel Studios(Lincolnshire, England)Genre Indie rock[1] post-punk revival garage rock hard rock Durasi3:20LabelDominoPenciptaAlex TurnerProduserJim AbbissMusic videoWhen the Sun Goes Down di YouTube When the Sun Goes Down (Saat Matahari Terbenam) adalah...

 

Inaccessible Island rail

Bird species endemic to the south Atlantic Inaccessible Island rail Conservation status Vulnerable  (IUCN 3.1)[1] Scientific classification Domain: Eukaryota Kingdom: Animalia Phylum: Chordata Class: Aves Order: Gruiformes Family: Rallidae Genus: Laterallus Species: L. rogersi Binomial name Laterallus rogersi(Lowe, 1923) Inaccessible Island in the Tristan Archipelago Synonyms[3] Atlantisia rogersi Lowe, 1923[2] The Inaccessible Island rail (Laterallus rogersi...

 

Giulio Volpi

Giulio Volpi Deputato del Regno d'ItaliaDurata mandato1º dicembre 1919 –25 gennaio 1924 LegislaturaXXV, XXVI, XXVII GruppoparlamentareSocialista CollegioLazio-Umbria Incarichi parlamentari XXV legislaturaGiunta generale del bilancio e dei conti consuntivi (3 dicembre 1919-7 aprile 1921) Sito istituzionale Dati generaliPartito politicoPartito Socialista Italiano Titolo di studioLaurea in giurisprudenza ProfessioneAvvocato Giulio Volpi (Bracciano, 1�...

赫瓦贾·纳齐姆丁

His Excellency赫瓦贾·纳齐姆丁爵士খাজা নাজিমুদ্দীন خواجہ ناظِمُ الدّین‬‎CIE, KCIE摄于1948年第2任巴基斯坦總理任期1951年10月17日—1953年4月17日君主佐治六世伊莉沙白二世总督古拉姆·穆罕默德前任利雅卡特·阿里·汗继任Mohammad Ali Bogra（英语：Mohammad Ali Bogra）第2任巴基斯坦總督（英语：Governor-General of Pakistan）任期1948年9月14日—1951年10月17日君�...

 

Філософія

Частина серії проФілософіяLeft to right: Plato, Kant, Nietzsche, Buddha, Confucius, AverroesПлатонКантНіцшеБуддаКонфуційАверроес Філософи Епістемологи Естетики Етики Логіки Метафізики Соціально-політичні філософи Традиції Аналітична Арістотелівська Африканська Близькосхідна іранська Буддій�...

 

Ēdole Castle

Castle in Latvia Ēdole CastleĒdole parish, Kuldīga municipality, Latvia von Behr family coat of arms on castleĒdole CastleCoordinates57°01′03″N 21°41′49″E / 57.01750°N 21.69694°E / 57.01750; 21.69694TypeCastleSite informationConditionPreservedSite historyBuilt13th centuryBuilt byBishop of Piltene Ēdole Castle (Latvian: Ēdoles pils; German: Schloß Edwahlen) is a Gothic Revival castle situated on the banks of Ēdole Lake, Ēdole parish, in the his...

Herbert Marcuse

Este artículo o sección tiene referencias, pero necesita más para complementar su verificabilidad. Busca fuentes: «Herbert Marcuse» – noticias · libros · académico · imágenesEste aviso fue puesto el 1 de agosto de 2016. Herbert Marcuse Marcuse en Newton, Massachusetts, 1955.Información personalNacimiento 19 de julio de 1898Berlín, Imperio alemánFallecimiento 29 de julio de 1979 (81 años)Starnberg, República Federal de AlemaniaCausa de muerte Hemorragi...

 

ويكيبيديا:يوم ويكيبيديا العربية الثامن عشر

  اختصاراتوب:يوم 18 نُرحب بمشاركتك معنا في يوم ويكيبيديا العربيَّة الثَّامن عشر لإثراء المُحتوى المعرفيّ باللَّغة العربيَّة والنُّهوض به على الإنترنت في ويكيبيديا في يوم السَّبت 23 يوليو 2022م، المُوافق 24 ذو الحجة 1443 هـ. قناة الدردشة هي مكان للالتقاء والتَّنسيق بالنِّسبة لك...

 

1966 European Indoor Games – Men's high jump

1966 European Indoor GamesTrack events60 mmenwomen400 mmenwomen800 mmenwomen1500 mmen3000 mmen60 m hurdlesmenwomen4 × 160 m relaywomen4 × 320 m relaymenMedley relaymenField eventsHigh jumpmenwomenPole vaultmenLong jumpmenwomenTriple jumpmenShot putmenwomenvte The men's high jump event at the 1966 European Indoor Games was held on 27 March in Dortmund.[1] Results Rank Name Nationality Result Notes Valeriy Skvortsov  Soviet Union 2.17 Wolfgang Schillkowski  West Germany 2.1...

Trabuco Hills High School

Comprehensive high school in Mission Viejo, California, United StatesTrabuco Hills High SchoolAddress27501 Mustang RunMission Viejo, California 92691United StatesCoordinates33°39′18″N 117°39′07″W / 33.655°N 117.652°W / 33.655; -117.652InformationSchool typePublic, Comprehensive High SchoolFounded1985School districtSaddleback Valley Unified School DistrictSuperintendentClint HarwickPrincipalAlicia FoulkGrades9-12Enrollment2,579 (2022-23)[1]CampusSub...

 

Gamma ray

Energetic electromagnetic radiation arising from radioactive decay of atomic nuclei This article is about the term's use in physics. For other uses, see Gamma ray (disambiguation). This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Gamma ray – news · newspapers · books · scholar · JSTOR (January 2024) (Learn ho...