Humanitarian Fund Update and Partner Support

RNS Number : 3077G

Ferrexpo PLC

29 March 2022

 

29 March 2022     

Ferrexpo plc

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

Update on Ferrexpo Humanitarian Fund Activities and Support from International Partners

Ferrexpo plc (LSE: FXPO), the world's third largest exporter of high grade iron ore pellets to the global steel industry, with operations in central Ukraine, announces the following update on the activities of the Group's Humanitarian Fund (the "Fund") in Ukraine.

Russia's continued invasion of Ukraine is creating a growing humanitarian crisis within the country. The Group continues to deploy assistance through the Fund, with individual projects approved on a daily basis, ranging in scale and complexity. Projects are assessed for their ability to serve the immediate need of communities within Ukraine, with support being offered to both the population located close to the Group's operations in central Ukraine, as well as locations further afield. To date, the Group has helped to provide accommodation and assistance to over 1,400 refugees displaced as a result of Russia's invasion of Ukraine. Recent projects have included the following:

· The provision of materials for the temporary housing of internally displaced people, such as folding beds, blankets, lighting and battery packs for charging phones, as well as computer equipment to assist the local authorities with coordinating the refugee relief effort.

· Equipment for firefighting teams, such as radios, satellite phones and protective equipment, to aid in search and rescue activities in towns and cities directly affected by the invasion.

· Batteries for light vehicles and battery packs for remote charging of mobile phones, for community organisations responsible for aiding fellow community members.

· Medical supplies for local hospitals from international vendors.

Each individual project is reviewed and approved by the Group's Health, Safety, Environment and Communities Committee, which is a subcommittee of the Board of Directors, and is the committee responsible for the Group's community support activities.

Furthermore, the Group is proud to report on the response from its international business partners, including suppliers, customers and contractors that have answered the call to help Ukraine. A number of the Group's partners have provided direct assistance to help Ukraine, with one particular valued customer allocating funds to directly assist projects in the local community of Horishni Plavni, located adjacent to the Group's operations, as well as other business partners providing financial aid, accommodation, shipments of food, medicines for nursing, food for infants and for other support projects throughout Ukraine.

Jim North, CEO of Ferrexpo, commented:

"The situation in Ukraine is grave and continues to deteriorate. Russia is continuing its invasion of Ukraine, which is creating a mass migration of people west, away from the conflict zones. Support from international organisations is fundamental to the relief effort, and we are doing everything we can do to be able to either offer direct assistance, or help coordinate assistance, wherever possible.

"We are proud and extremely grateful for the response from our international network of business partners, which have extended their assistance to aid the humanitarian effort in Ukraine, through initiatives such as the provision of funding to humanitarian organisations, the offer of direct aid to projects in the region where we operate, or the transfer of goods and services to the people of Ukraine. We would like to thank our partners for answering Ukraine's call for help, with this assistance greatly needed and greatly appreciated by those affected by Russia's invasion.

"Ferrexpo continues to prioritise the safety of our workforce in Ukraine. I would like to thank our colleagues for their continued support during this time, as well as their efforts in helping the humanitarian needs of the country."

For further information, please contact:

Ferrexpo:
Rob Simmons	[e-mail]	[phone]
Tavistock:
Jos Simson Gareth Tredway	[e-mail]	[phone] [phone]

 

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 .

 

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