Ferrexpo

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Ferrexpo plc
Public
Traded asLSEFXPO
Industryiron ore Mining
Founded1960
HeadquartersBaar, Switzerland
Horishni Plavni, Ukraine
Key people
Michael Abrahams, Chairman
Kostyantin Zhevago, CEO Christopher Mawe CFO
Productsiron ore pellets
Revenue$1,197.5 million (2017)[1]
$490.4 million (2017)[1]
$394.5 million (2017)[1]
SubsidiariesPoltava Mining and Enrichment Combinat, Yeristovo Mining and Enrichment Combinat
Websitewww.ferrexpo.com

Ferrexpo plc is a Swiss-based commodity trading and mining company which has its iron-ore mining capabilities in Ukraine. The company's trading office is located in London where it is listed on the London Stock Exchange and it is a constituent of the FTSE 250 Index.

History[edit]

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] The business was privatised in 2001 by the Ukrainian Government. In 1977 it started selling its product in the form of pellets. It was first listed on the London Stock Exchange in 2007.[2] In 2008 and 2009 the company established additional new complexes around Horishni Plavni and Kremenchuk. In 2011 the company announced that it was considering expansion in countries outside Ukraine.[3] Ferrexpo acquired an $80 million stake (14.4%) in a Brazilian mining company Ferrous Resources in September 2013 as part of its push to expand beyond Eastern Europe.[4]

Operations[edit]

The Company, which sells most of its product to steel mills of Eastern Europe, is organised into the following units:[5]

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

  • Poltava Mining and Enrichment Complex (1970s), Horishni Plavni
  • Yeristovo Mining and Enrichment Complex (2008-2012), Yerystivka village, Kremenchuk Raion
  • Belanovo Mining and Enrichment Complex (est. 2009, under construction), Bazaluky village, Horishni Plavni municipality and Nova Haleshchyna, Kozelshchyna Raion

Ownership[edit]

The founder, Kostyantyn Zhevago, owns 51% of the company.[6]

References[edit]

  1. ^ a b c "Preliminary Results 2017" (PDF). Ferrexpo. Retrieved 25 March 2018.
  2. ^ a b "Ferrexpo appoints new CFO". Director of Finance on line. 3 December 2007. Retrieved 3 December 2016.
  3. ^ "Ferrexpo considers expanding out of Ukraine". Financial Times. 4 August 2011. Retrieved 3 December 2016.
  4. ^ "Ferrexpo acquires $80 million stake in Brazilian miner". Financial Times. 18 September 2013. Retrieved 3 December 2016.
  5. ^ "Ferrexpo has attractions despite founder's big slice". The Times. 21 March 2008. Retrieved 3 December 2016.
  6. ^ "Ferrexpo must show its mettle to woo investors". The Times. 10 June 2007. Retrieved 3 December 2016.

External links[edit]