2016 Full Year Results

2016 FULL YEAR RESULTS

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Who we are

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It is the 6th largest seaborne pellet producer and has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 35 years. Ferrexpo’s resource base is one of the largest iron ore deposits in the world.

For further company information please click here.

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Responsibility

Community

In 1960 the town of Komsomolsk (now Horishni Plavni) was established adjacent to the Poltava mine to support the mining and processing operations. We remain the largest employer in the town, which has a population of approximately 55,000 people, of which approximately a quarter of the working population are employed by the Group. We have been a significant investor in local community initiatives from the outset, investing funds in the social infrastructure of Horishni Plavni and the surrounding area. 

These funds have been spent on medical facilities, social services, education, religion, culture and sporting activities, as well as on the maintenance of certain of the city’s social and cultural structures. Since 2010, we have spent approximately US$44 million on CSR activities.  

Due to our presence as a major local employer and our contributions to community initiatives, unemployment in Horishni Plavni is significantly below the national average, and the average salary is significantly above the national average.

For more information go to our Community section.

Safety

The management of Ferrexpo fosters and continually develops a culture of safety in the organisation, linking safety performance to remuneration. We have regular safety audits by DuPont and are determined to continue to follow international best practice as well as to set the standard for mining companies operating in the CIS.

For more information go to our Safety section.

Environment

Continuous efforts are made to manage and reduce dust, gas and effluent emissions by introducing new equipment and procedures. We are keenly aware of our duty to manage our resources carefully with the proper regard for the environment.

For more information on our Environmental policy section.

Ethical Standards

The Board remains dedicated to maintaining the highest standards of corporate governance in the conduct of its business throughout the Group, as well as instilling a culture of commitment and accountability in all employees. We have fully complied, since its 2007 listing, with the Combined Code on Corporate Governance, and since 2011 with the UK Corporate Governance Code of 2010. 

For more information go to our Ethical standards section.