Ferrexpo PLC Humanitarian Fund Expanded to US$7.5 Million
14 3월 2022 - 4:00PM
RNS Non-Regulatory
TIDMFXPO
Ferrexpo PLC
14 March 2022
14 March 2022
Ferrexpo plc
("Ferrexpo" or the "Company" or the "Group")
Ferrexpo Expands Funding for Humanitarian Fund to US$7.5
Million
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 that it has increased the
level of approved funding for its Humanitarian Fund ("the Fund"),
to US$7.5 million to provide further support to local communities
close to the Group's operations, as well as broader support for
communities throughout Ukraine.
Following the announcement of the establishment of the Fund on 7
March 2022, the Group has been made aware of further projects and
initiatives to support the humanitarian relief effort within
Ukraine and the Group's Board of Directors has moved to quickly
increase the Fund's approved budget accordingly. Examples of
projects that sit within the Fund's activities include the Group's
efforts to coordinate the supply and distribution of food packages,
the sourcing of basic medical supplies for local hospitals and
medical facilities and the provision of meals for local residents
of communities surrounding to the Group's operations. The situation
in Ukraine is rapidly evolving and the Fund is intended help enable
the Group to react quickly to meet the increased needs of Ukraine
and our workforce and their families at this difficult time.
Further details of the initiatives covered by the Fund to date can
be found on the Group's website here .
Ferrexpo's priority remains the safety of its workforce and
local communities, and the Group is working to tackle the
humanitarian crisis that is emerging across Ukraine.
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
.
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