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Ferrexpo ( (GB:FXPO) ) just unveiled an update.
Ferrexpo has announced an update regarding its Ukrainian subsidiary, Ferrexpo Poltava Mining (FPM), which faces legal proceedings related to accusations of illegal mining and environmental damage. A civil claim has been filed against FPM and its General Director for joint liability amounting to UAH 157 billion (approximately US$3.76 billion). Ferrexpo disputes these allegations, asserting that their operations comply with environmental standards, and intends to defend its position in court. The company’s operations remain unaffected by these proceedings.
More about Ferrexpo
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and is listed on the London Stock Exchange. The company produces high-grade iron ore pellets, which are essential for the global steel industry due to their ability to reduce carbon emissions and increase productivity when converted into steel. Ferrexpo has been serving the global steel industry for over 50 years, and before Russia’s invasion of Ukraine, it was the world’s third-largest exporter of pellets.
YTD Price Performance: 4.73%
Average Trading Volume: 2,512,867
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £651.6M
Find detailed analytics on FXPO stock on TipRanks’ Stock Analysis page.
