In addition, the company sent $12.5 million to its Humanitarian Fund

Swiss-Ukrainian iron ore company Ferrexpo, as part of supporting the Ukrainian economy during the war, paid in advance more than $35 million (UAH 1 billion) of corporate income tax, the company’s press release on the Facebook stated.

In addition, the company sent $12.5 million (UAH 352.5 million) to its Humanitarian Fund.

“We will continue to provide assistance to our country in these difficult times,” notes Ferrexpo.

Earlier GMK Center reported, that Ferrexpo started a Humanitarian Fund to support the communities where the group’s enterprises located, and help Ukraine too. It allocated $1.5 million for it. Later, the sum was increased.

In the first quarter of 2022, Ferrexpo produced 2.7 million tons of pellets, which is the same as in Q1 2021 and 11% lower than in Q4 2021. During the same period, the company’s sales amounted to 2.6 million tons.

Ferrexpo is a Swiss iron ore company with assets in Ukraine. It produces and exports high quality iron ore pellets for steel production. It is the largest producer and exporter of pellets in the post-Soviet region.

In 2021, the company had the production of commercial pellets at the level of 2020 – 11.2 million tons.