Ferrexpo Addresses Ukrainian Legal Accusations, Operations Unaffected

Ferrexpo ( (GB:FXPO) ) has issued an announcement.

Ferrexpo has addressed accusations from the Ukrainian Prosecutor General’s Office against four senior managers of its subsidiary, Ferrexpo Poltava Mining, regarding the alleged illegal mining and sale of waste products. The company maintains that these materials are waste from iron ore processing and not separate mineral resources, noting that sales have ceased since September 2021. With the National Police completing their pre-trial investigation, the case is set to go to court. Ferrexpo asserts that the accusations are without merit, and operations remain unaffected, promising further updates as necessary.

More about Ferrexpo

Ferrexpo is a Swiss-headquartered iron ore company with assets in Ukraine, listed on the London Stock Exchange. It produces high-grade iron ore pellets for the global steel industry, which enable reduced carbon emissions and increased productivity when converted into steel. Prior to Russia’s invasion of Ukraine, Ferrexpo was the world’s third-largest exporter of pellets, supplying premium steel mills worldwide.

YTD Price Performance: -6.99%

Average Trading Volume: 2,753,796

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £560.4M

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