Business news from Ukraine


British-based Ferrexpo plc, which controls in Ukraine, in particular, Poltava and Yeristovo mining and processing plants (GOK), in January-October this year, according to recent data, increased production of pellets by 0.1% compared to the same period last year – up to 9.19 million tonnes.A representative of the company informed Interfax-Ukraine in October production of pellets amounted to 1.035 million tonnes.At the same time, the company produced 12.18 million tonnes of iron ore concentrate, which is 5.9% higher than in the same period last year, in October it produced 1.24 million tonnes.According to the company’s presentation, in November the daily production of pellets will increase in comparison with October and September to almost 35,000 tonnes per day, which will allow to increase the overall production of pellets in the fourth quarter.In 2022, the company predicts an increase in pellet production above the level of 2021, in particular pellet production through direct reduction with a 67% iron content will be in the range of 0.5-1 million tonnes.Ferrexpo is an iron ore company with assets in Ukraine.Ferrexpo owns 100% of the shares of Poltava GOK, 100% of Yeristovo GOK and 99.9% of Belanovo GOK.



Ferrexpo entered the top 4 family-friendly companies in Ukraine and topped the rating in Mining and Metallurgical Industry. On November 23, 2021, the official presentation of the research results and the announcement of the winners took place. The survey was conducted by the Center for the Development of Corporate Social Responsibility at the request of the United Nations Population Fund in Ukraine. 50 companies from 16 economy sectors took part in the survey.

Ferrexpo Group Business Units (Poltava Mining, Yeristovo Mining, Belanovo Mining) implement a policy aimed at supporting male and female workers with their families. The company uses best practices to create favorable conditions for meeting the needs of people in the company.

For a balance between work and personal life, at the level of corporate culture, mutual respect for a person’s personal time is maintained, so it is not customary to bother a colleague after the end of the working day, on weekends or during holidays, with the exception of emergency production situations. For the third year in a row, the Employee Well-Being Program has been in operation, training webinars on physical and mental health, financial literacy have been held. There is a hotline of psychological support on an ongoing basis, to which every male or female employee can apply.

To preserve and improve the physical health of the staff, Ferrexpo operates an expanded medical life and health insurance program, conducts medical examinations at its own medical and sanitary base with the latest equipment, provides free access to the swimming pool, preferential vouchers for health improvement and classes in a sports complex.

Ferrexpo is a leader in Ukraine in the implementation of the gender equality and inclusion principles. The women of the company are provided with comprehensive support for maximum self-realization both at home and at work. More than 160 women are trained at the Fe_Munity Women’s Leadership School, where they receive support and motivation. For women on maternity leave, remote or flexible working hours are possible. The Paternity leave program has been implemented is if a married couple works at the Business Unit, and the man’s salary are higher, with participation in the program, the wife will receive compensation in salary while the man is on paternity leave, so that the family budget does not suffer.

Ferrexpo has a number of benefits in accordance with the terms of the collective agreement, in addition to what is assigned by law. For example, a material payment in connection with marriage, to the parents of a first-grader, New Year’s gifts and preferential health-improving vouchers for children, financial assistance to employees who find themselves in difficult life circumstances.

Anna Adom, HR Director of Ferrexpo Poltava Mining

“A family-friendly attitude on the part of the employer has a positive effect on labor productivity. We understand that comfortable working conditions for employees with family responsibilities contribute to increased loyalty to the employer. And the well-being of our employees, generally, has a positive effect on the efficiency of our company.”

About Ferrexpo: 

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been.mining, processing and selling high quality iron ore pellets to the global steel industry for over 40 years. In 2020, the Group produced 11.2 million tonnes of iron ore pellets, a 7% increase on the prior year. The Company is ranked as the world’s 3rd largest exporter of pellets to the global steel industry with a market share of approximately 9%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit


The Cannes Corporate Media & TV Awards 2021 summed up last year’s results and chose the winners among 900 corporate and documentary films submitted to the festival.

One of the winners was the film “Anna”, directed by Maxim Chuzha. The short film tells the story of the sports career of a multiple-time champion of Ukraine, Europe, and the 2018 World Boxing Championship vice-champion, Anna Okhota, supported by Ferrexpo as part of its corporate social responsibility program in support of sports and local communities.

The five-minute video won the sports films category, winning the festival’s commemorative silver dolphin award. About 50 films from the post-soviet countries apply for this award every year, but over the past 12 years, only four films of Ukrainian production have been selected at this festival in Cannes. It is noteworthy that this year the jury did not determine a clear winner in this category and have not awarded a single golden dolphin. Instead, the victory was shared between the Ukrainian film “Anna” and the French “Roland Garros – Building the legend”.

Anna is an athlete from the small town of Horishni Plavni, Poltava region, who shares her story of victories and failures, training secrets, diet, talks about how she feels in and out of the ring, as well as her dream. This city became famous for its athletes after the Tokyo 2020 Olympic Games when everyone found out about Liudmyla Luzan, who won silver and bronze medals for the Ukrainian rowing team. “Our city can boast of champions of Ukraine, Europe, and the world, as well as Olympic champions thanks to the support of Ferrexpo,” Anna Okhota’s coach, Oleksandr Serednitskiy, said.

According to the athlete, her strongest rival is herself. “By defeating myself, I can defeat everyone else,” Anna added.

“Supporting the development of sports is an important part of Ferrexpo’s corporate social responsibility programs. We fund hundreds of athletes in the region where the company operates, allowing them to train in the best possible conditions. And we are happy when, thanks to our support, many of them become prize-winners and champions of the most prestigious Ukrainian, European and world competitions,” Yuriy Khimich, head of CSR Department at Ferrexpo, said.


Since 2010, the Cannes Corporate Media & TV Awards Festival has set world standards for corporate films. The festival jury, consisting of Oscar and Emmy winners and corporate communications specialists, is a guarantee of the winners’ quality. Winners from all five continents and Grand Prix winners from Australia, Brazil, France, the Netherlands, and Switzerland make the festival genuinely international.

Anna Okhota is a multiple-time champion of Ukraine, Europe, and the 2018 World Boxing Championship vice-champion.

Ferrexpo is a Swiss iron ore company with assets in Ukraine. The company’s main activity is producing and exporting high-quality iron ore pellets used in steel production. Ferrexpo is the largest manufacturer and exporter of pellets among the countries of the former USSR. Current production assets are Poltava and Yeristovo Mining. Ferrexpo PLC owns 100% of the shares of Ferrexpo AG, which, in turn, owns 100% of the shares of Poltava Mining and 100% of the shares of Yeristovo Mining. In 2020, the company produced 11.2 million tons of iron ore pellets. The primary consumers of products are steel companies from Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam, and the United States. Ferrexpo shares are listed on the main market of the London Stock Exchange under the ticker FXPO. For more information, visit



Ferrexpo plans to invest more than $2 million in educational equipment, Yuriy Arsenyev, the Director of Information Technology and Automation at Ferrexpo, said during the presentation of Ukraine’s first Privat Network using LTE technology at 5.7 GHz.“We are negotiating the purchase of simulation cabins and software with companies from South Africa and Australia,” he said.The mining simulator cab recreates the cab of a dump truck or excavator.“The technology allows you to simulate even choreography, the interaction of different pieces of equipment. That is, we can simulate the simultaneous operation of an excavator, a bulldozer and a dump truck,” he added.The technology studied by Ferrexpo allows you to scan real careers, load this data into the program and create a simulation that matches 100% real conditions.“Such tools make it possible to train personnel more efficiently. First of all, upon receipt of new equipment, we will be able to improve our qualifications in just a month, teach them how to work with it. The second point is that such simulators will allow us to work out emergency situations, for example, ice in a quarry,” Arsenyev said.One such complex for one type of equipment is about $1 million.“We are negotiating the purchase of three sets, for bulldozers, dump trucks and excavators. But we want to buy one base, a container with hydraulics, which costs about $500,000. Replacement control kits each cost the same. We want to take one base and several replacement kits,” the expert said.According to him, the conversion from one type of equipment to another takes about a day. “You can train personnel for one type of dump truck, re-equip in a day – and prepare for another,” he noted.

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Ferrexpo Plc (the U.K.), managing Poltava Mining and Yeristovo Mining in Ukraine, has started cooperation with specialists Ricardo Plc (the U.K.), as part of decarbonization plans by 2050. “The Group undertakes a commitment to achieve net zero carbon emissions from its operations by the year 2050,” the company said in a press release on Monday. In addition, the group undertakes an initial commitment to achieve a minimum of a 30% reduction in combined Scope 1 and 2 emissions by 2030.
According to the press release, Ricardo to also help enhance the group’s existing climate change scenario reporting and review the role of Ferrexpo’s iron ore pellets within the circular economy. Results of Ricardo’s analysis expected to enhance the group’s carbon reduction targets and to further develop climate change reporting in 2022.
Jim North, Interim Group Chief Executive Officer, said that whilst iron ore pellets offer our customers the opportunity to significantly reduce carbon emissions already, it is important to signal a clear intention to decarbonise our own operations.
“It is on this basis that we have adopted the targets announced today, to demonstrate both our focus on climate change and our understanding of the importance of decarbonisation,” North said.
He said that Ferrexpo jointly with Ricardo intends to be a workstream that develops science-based reduction targets and a timeline for the stages of decarbonisation in each aspect of the Ferrexpo business.
“In the 18 months to June 2021, the group has already recorded a carbon reduction in excess of 20%2, which is a demonstration of our commitment to the environment,” North said.
Tim Curtis, Energy & Environment Managing Director at Ricardo Plc, said that Ricardo’s experts have been helping organisations around the world to develop robust and science-based pathways to achieving net zero carbon emissions and they will support Ferrexpo with the development of its decarbonisation targets and providing objective expertise to help realise this ambition.
Ricardo Plc is a world-class environmental, engineering and strategic consulting company.
Ferrexpo is an iron ore company with assets in Ukraine.

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British-based Ferrexpo plc, which controls in Ukraine, in particular, Poltava and Yeristovo mining and processing plants, in January-September 2021 increased total production of pellets by 0.3% compared to the same period in 2020, to 8.158 million tonnes.
According to a press release from the company on Wednesday, total production, including pellets and salable concentrate, rose 3% to 8.393 million tonnes over the period.
At the same time, total production of pellets with 65% iron content amounted to 7.829 million tonnes (a decrease of 0.3%). Pellets with 62% iron content were not produced. Production of direct reduction (DR) pellets with 67% iron content amounted to 330,000 tonnes (up by 76%).
Over the nine months of 2021, the company also produced 234,000 tonnes of salable concentrate with 67% iron content, while in 2020 it did not produce salable concentrate.
In the third quarter of 2021, total pellet production fell 9% quarter on quarter (qoq), but increased 2% versus Q3 2020, to 2.596 million tonnes. In particular, 2.401 million tonnes of pellets with 65% iron content were produced (a decrease by 13% versus the second quarter of 2021 and by 5% versus the third quarter of last year), no pellets with 62% grade were produced, production of DR pellets with 67% iron content amounted to 195,000 tonnes (an increase of 130% compared to the previous quarter).
The company also produced 85,000 tonnes of salable concentrate with 67% iron content in the third quarter of 2021 (an increase of 0.2% compared to the second quarter).
Total production, including production of pellets and commercial concentrate, in the third quarter of this year decreased by 9% compared to the second quarter of 2021, but increased by 6% compared to the third quarter of 2020, to 2.680 million tonnes.
The press release explains that the 2% increase in iron ore pellet output in Q3 2021 versus Q3 2020 reflects strong production performance following pelletiser upgrade work completed in previous quarters. Production volumes are 9% lower on a quarter on quarter basis as a result of pelletiser upgrade work completed during the quarter, and planned pelletiser maintenance in September 2021.
In addition, upgrade work on the group’s fourth pelletiser line completed during September 2021.
Production of iron ore concentrate with a high iron content (65% and above) in the third quarter was in line with the previous quarter.
In addition, it clarifies that the proportion of direct reduction pellets with higher iron content (67% Fe) increased to 8% of total pellet production during the third quarter from 3% in the previous quarter, reflecting the group’s continuing expansion into this market.
In turn, continued production of commercial high grade concentrate (67% Fe) at 85,000 tonnes in the third quarter reflects the group’s recent investment in in its concentrate stockyard project.
Interim Group Chief Executive Officer Jim North pointed to the group’s continued progress towards improving product quality and output following the completion of the pelletizer upgrade.
“Through continued investment in the group’s concentrator and pelletiser facilities, we are creating a platform for future growth in product volumes, whilst simultaneously increasing the overall grade of our production,” North is cited in the press release.