Ferrexpo is among the ten largest Ukrainian investors in wartime

Despite the difficulties, Ferrexpo continues to invest significant funds in maintaining and modernizing its own facilities

Ferrexpo, an iron ore company with assets in Ukraine that is listed on the London Stock Exchange, is among the top 10 largest Ukrainian investors in wartime according to NV’s “Leaders. Who and how much invests in business development during the war”.

The company’s investments over the two and a half years of war are estimated at $317 million. Ferrexpo is ranked second among the mining and metals companies in the ranking and sixth overall.

In 2023, Ferrexpo invested $101 million to improve production, including projects launched before the full-scale invasion. In the first half of 2024, the volume of capital investments amounted to $55 million (support and modernization – $19 million; strategic development projects – $36 million). The main ongoing investment projects include the modernization of the press-filtration complex, equipment for the concentrator and pelletizing shop, and stripping operations for future production growth.

Ferrexpo continues to invest heavily in maintaining and modernizing its facilities, being one of the largest investors in the country’s economy. At the same time, the level of the group’s capital expenditures depends on operational and logistical constraints.

As GMK Center reported earlier, in 1H2024, Ferrexpo increased pellet production by 76% compared to 1H2023, to 3.297 million tons. In 2023, this volume decreased by 36% compared to 2022 – to 3.845 million tons.

Ferrexpo is an iron ore company with assets in Ukraine that is listed on the London Stock Exchange. It produces and exports high-quality iron ore pellets for steel production. Its production assets include Poltava and Yeristovo Minings (100% of shares and corporate rights). The company is also developing Bielanovo Mining.