Ferrexpo paid $40.6 million in taxes and royalties in Ukraine in 2025

Ferrexpo, an iron ore producer with assets in Ukraine, paid $11.6 million in taxes to budgets at various levels in 2025. This is stated in the company’s press release.

The amount of royalties paid last year totalled $29 million.

In 2025, the company contributed $24 million to Ukraine’s state budget ($3.7 million in taxes and $20.3 million in royalties).

The regional budget received $8.2 million, comprising $909,000 in tax payments and $7.2 million in royalties. $8.4 million was paid into the local budget ($6.9 million in taxes and $1.4 million in royalties).

It is noted that in 2025, the company did not make any payments for extraction rights, licences and concessions, dividends or bonuses, or for infrastructure improvements.

Taxes paid include taxes on income, production or profits, but do not include VAT, personal income tax or sales tax.

It should be recalled that Ferrexpo is pursuing efforts to raise at least $100 million in share capital to avert bankruptcy, continuing to regard this step as the most viable solution for securing funding within the required timeframe.

As reported by GMK Center, in the first quarter of this year, the company reduced its iron ore output by 72% year-on-year – to 592.75 thousand tonnes. Compared with the previous quarter, the figure fell by 45%.

In January–March, the company’s production activities were largely suspended due to Russian attacks on Ukraine’s energy sector. A limited resumption of operations at reduced capacity levels only took place at the end of February.