Ferrexpo plc, a mining company with major assets in Ukraine, produced 3.814 million tonnes of pellets in January-March this year, up twice year-on-year (0.901 million tonnes) and 2.9 times more than in the previous quarter (0.627 million tonnes).
“Our operations delivered exceptional results in the first quarter, with total production up 203% quarter-on-quarter to over two million tonnes of iron ore pellets and concentrate. This is our best quarterly result since the full-scale invasion of Ukraine,” Executive Chairman Lucio Genovese said in a release on Tuesday.
It is specified that the total production of commercial products (pellets and iron ore concentrate) in the first quarter of this year amounted to 2.054 million tons, which is 2.1 times higher than in the first quarter of 2023 and 3 times higher than in the previous quarter. In particular, the production of saleable concentrate in January-March 2024 amounted to 241 thousand tons, compared to 53 thousand tons in January-March 2023 and 50 thousand tons in October-December 2023.
Genovese noted that Ferrexpo was able to export products from Ukrainian ports again during the quarter, which allowed it to supply larger volumes to Europe and resume sales to customers in the Middle East and North Africa and Asia.
According to him, the company is currently seeing an increase in the conscription of its employees: 669 Ferrexpo employees are serving in the army, which is the highest figure since the start of the full-scale invasion, while 67 employees have returned and a veterans’ reintegration program is underway.
“While we consider the level of risk acceptable given the ongoing war in Ukraine, we will continue to utilize all available export capacity to ensure that the interests of all stakeholders are supported,” Genovese concluded.
The Group also successfully operated two and sometimes three pelletizing lines (out of four) during the quarter, changing product quality depending on customer demand and expanding logistics capabilities.
Total sales for the quarter amounted to 1.992 million tons, producing only pellets with an iron content of 65%.
As reported, Ferrexpo produced 3.845 million tons of pellets in 2023, down 36.5% from 2022.
Ferrexpo owns a 100% stake in Yeristovo Mining, 99.9% in Bilanivsky GOK and 100% in Poltava Mining.
The company ended 2023 with a net loss of $84.8 million compared to a net profit of $220.0 million in 2022. Revenue for 2023 fell by 47.8% to $651.8 million, and EBITDA by 83% to $130.2 million.
On April 22, Ukraine State Aviation Enterprise (Boryspil, Kyiv region) announced a tender for insurance of the liability of the operator of a commercial civil aircraft for damage caused to third parties and the liability of the air carrier for damage caused to passengers and baggage; aircraft insurance.
According to a posting in the Prozorro electronic public procurement system, the tender was announced for insurance of aircraft crew members, other aviation personnel and persons who have the right to be on board the aircraft legally without purchasing tickets.
The expected value of the insurance procurement is UAH 26.674 million.
The amount of the contract performance security is 5% of the value of the procurement contract, in monetary terms, in UAH.
The deadline for submitting bids is April 30.
Ukraine State Aviation Enterprise was established to organize, provide and perform special air transportation of high-ranking official delegations of Ukraine and other states within the country and abroad in compliance with the requirements and rules set forth in the relevant regulatory documents.
Aviation Enterprise, BUDGET, risk insurance, TENDER, UKRAINE
Olena Pokolodna has increased her stake in Dolphin Insurance Company (Kharkiv) from 0.7% to 99.3%.
This is reported in the company’s information posted in the information disclosure system of the National Securities and Stock Market Commission.
It is noted that the acquisition took place by way of inheritance on the basis of a certificate of inheritance in connection with the death of a shareholder who owned 98.6% of the company’s shares.
PrJSC IC Dolphin was registered on March 21, 2011.
The State Customs Service of Ukraine has granted the status of an authorized economic operator of the type “on confirmation of safety and reliability” (AEO-B) to SCF Ukraine PJSC (Lutsk).
“SCF Ukraine became the second enterprise in Ukraine to receive AEO-B authorization. Each enterprise that prepares and successfully passes the assessment of compliance with the AEO authorization of the type “on confirmation of safety and reliability” is a step towards the possibility of Ukraine’s conclusion of mutual recognition agreements, in particular with the European Union,” the service said in a publication in its Telegram channel on Monday.
The State Customs Service stressed that the authorization of AEO type “on confirmation of safety and reliability” gives enterprises the right to enjoy exclusive advantages. Among them – prior notification of customs inspection at the checkpoint, priority fulfillment of customs formalities, special traffic lane at the checkpoint, reduction of risk by the automated customs clearance system, use of the national AEO logo.
In contrast to enterprises that have received the more common AEO authorization of the type “on granting the right to apply simplifications” (AEO-C), enterprises with AEO-B authorization will be able to receive benefits on the basis of international agreements on mutual determination in other countries.
The agency recalled that the AEO-C authorization gives enterprises the right to receive simplifications, including transit simplifications, in particular, regarding the procedure of release by location, independent application of special type of seals, general guarantee and “authorized shipper”.
According to the published information, as of today 36 enterprises in Ukraine have received 38 AEO authorizations: 36 AEO-C and 2 AEO-B. One company can get both statuses at will.
The SKF Ukraine plant in Lutsk, controlled by Sweden’s SKF, produces roller and needle bearings and wheel units for heavy-duty/commercial vehicles.
President Volodymyr Zelenskyy has accepted credentials from the new Ambassador of the Republic of Poland Jaroslaw Guza, Ambassador of Australia Paul Lehmann, Ambassador of the Kingdom of Thailand Urasa Mongkolnawin, Ambassador of the Republic of Ghana Francis Ashiti-Odunton, and Ambassador of the Republic of Uganda, who have started their work in Ukraine.
As reported on the website of the head of the Ukrainian state on Monday, the ceremony took place on the territory of the National Reserve “St. Sophia of Kyiv”.
Congratulating the Ambassador of Poland on the start of his diplomatic mission, Zelenskyy thanked the Polish people for supporting Ukraine from the first days of the full-scale war.
“We are grateful for the shelter for a large number of Ukrainians, for humanitarian and military assistance,” he said.
The Head of State also noted the personal contribution of the Polish leadership to the consolidation of international efforts in support of Ukraine.
The parties also discussed cooperation in the defense sector with a focus on air defense and other key needs of the Ukrainian defense forces.
The parties also touched upon Ukraine’s European and Euro-Atlantic integration and the importance of Poland’s support for the country’s progress towards the EU and NATO.
In addition, Zelenskyy drew attention to the importance of preparing a bilateral security agreement and called for the unblocking of the Ukrainian-Polish border.
During his conversation with Australian Ambassador Paul Lehmann, Zelenskyy praised the level of relations between the two countries and thanked Australia for its assistance since the beginning of the full-scale Russian aggression.
“We are very grateful for your military support. It was very important,” Zelenskyy said.
The parties discussed the prospects for deepening bilateral political and security dialogue, especially in the context of Ukraine’s urgent military needs.
In his congratulations to Ambassador Urasa Mongkolnawin on the start of her diplomatic mission, Zelenskyy expressed hope that relations between the two countries would become even stronger and more successful.
“We are very grateful to your country for the humanitarian assistance provided during this war, especially to overcome the challenges in the energy sector the winter before last,” he said.
Zelenskiy invited Thailand to take part in the inaugural Global Peace Summit in June in Switzerland.
“It is very important for us to involve as many countries as possible. We want peace. You will see this when you are in Ukraine – how our people approach life. We have not started any war, but we have to protect our people and children,” he assured.
In the course of the conversation with Ambassador of Ghana Francisca Ashiti-Odunton, the President thanked for the support of Ukraine at various international platforms, particularly in the course of adoption of important resolutions of the UN General Assembly.
The Head of State reminded of the recent opening of the Embassy of Ukraine in Ghana.
“It is very important for us to open Africa. For a long time, your region has been distant for Ukraine, and now we want to make it closer and our relations stronger,” he emphasized.
The parties also discussed Ukraine’s important role in global food security, particularly on the African continent. Zelenskyy emphasized that Ukraine would continue to be a reliable guarantor of global food security.
During a conversation with Ambassador of the Republic of Uganda Stephen Mubiru, the parties discussed prospects for deepening bilateral relations in various fields. Zelenskyy emphasized Ukraine’s readiness to develop mutually beneficial cooperation with Uganda, particularly in the areas of digitalization, information technology, and education.
British Prime Minister Rishi Sunak will travel to Poland on Tuesday, April 23, to announce a massive increase in military support for Ukraine, specifically £500 million of additional military funding, according to the British government’s website.
According to the release, Sunak will meet with Polish Prime Minister Donald Tusk to discuss deepening British-Polish relations. The two sides will also hold talks with NATO Secretary General Jens Stoltenberg in Warsaw on European security and support for Ukraine. The British prime minister will then travel to Germany to meet Chancellor Olaf Scholz in Berlin.
“Ukraine faces an existential threat as Russia continues its barbaric invasion, risking the security and stability of the whole of Europe,” the statement said.
The additional funding of £500 million is being used to quickly deliver urgently needed ammunition, air defense, drones and engineering support. The drones will be procured from the UK.
The UK Ministry of Defense will send Ukraine a package of equipment designed to repel a Russian invasion on land, sea and air. The aid package contains 60 boats, including raid and dive boats and naval guns, more than 1,600 strike and anti-air missiles, as well as additional long-range Storm Shadow missiles, more than 400 pieces of equipment, including 160 Husky protected vehicles, 162 armored vehicles and 78 all-terrain vehicles, and nearly 4 million rounds of small arms ammunition.
“Protecting Ukraine from Russia’s brutal ambitions is vital to our security and to all of Europe. If Putin is allowed to succeed in this war of conquest, he will not stop at the Polish border… Ukraine’s armed forces continue to fight bravely but need our support – and need it Now today’s package will help ensure that Ukraine has everything it needs to fight Russia,” Sunak emphasized.
At the same time, UK Defense Secretary Grant Shapps said that “this record-breaking military aid package will give President Zelensky and his brave nation more of the tools they need to kick Putin out and restore peace and stability in Europe.”
“The UK was the first to provide NLAW missiles, the first to give modern tanks and the first to send long-range missiles. Now we are going even further. We will never let the world forget the existential battle Ukraine is fighting and with our continued support they will win,” said Shapps.
