Ferrexpo paid 2.7 times more taxes and fees in 9M

Poltava Mining paid ₴4.8 billion in taxes in the same period

In January–September 2021, enterprises of the Ferrexpo Group increased payment of taxes and fees to budgets of all levels by 2.7 times to ₴6.6 billion y-o-y, according to the Company’s press service.

In 9M, Poltava Mining paid taxes and fees in the amount of ₴4.86 billion. Income tax amounted to ₴3.75 billion, environmental tax over ₴105.2 million, and land tax over ₴55.4 million. Subsoil use fees amounted to ₴222.5 million.

In January–September 2021, Poltava Mining paid over ₴245 million to the local budget (a 5% increase y-o-y), over ₴546.6 million to the oblast budget (a 12% increase), and over ₴3.8 billion to the state budget (a 83% increase).

In 9M, Yeristovo Mining paid taxes and fees worth ₴1.79 billion, and Belanovo Mining paid ₴30.2 million in taxes and fees.

In 9M, Yeristovo Mining paid:

• ₴88.6 million to the local budget (a 5% increase);
• ₴237.5 million to the oblast budget (a 14% increase);
• ₴1.38 billion to the state budget (a 81% increase).

In January–September 2021, Belanovo Mining paid:

• ₴15.1 million to the local budget (a 58% increase);
• ₴3.1 million to the oblast budget (a 12% increase);
• ₴7.9 million to the state budget (a 30% increase).

In 2020, Ferrexpo paid ₴4.5 billion in taxes and fees to Ukraine’s budget, 25% up from the previous year.

Ferrexpo is a Swiss-based mining company with iron ore assets in Ukraine. It produces and exports high-quality iron ore pellets for steel production. The Ferrexpo Group is the largest producer and exporter of iron ore pellets among the countries of the former Soviet Union.

Its production assets include Poltava Mining and Yeristovo Mining (holding a 100% stake each).

In 2020, Ferrexpo increased production of iron ore pellets by 7% to 11.2 million tons y-o-y. The Company sold 12.1 million tons of iron ore pellets in 2020, 17% up from 2019.