Ferrexpo plans to pay an annual bonus to workers of Ukrainian assets

This payment will be made in the first quarter of 2024

Ferrexpo, a London-listed iron ore company with assets in Ukraine, is to pay an annual bonus to employees of the Group’s Ukrainian operations: Poltava Mining, Yeristovo Mining and Bilanovo Mining. This was reported to GMK Center by the company’s press service.

The bonus will be equal to the average monthly salary of the employees. The payment is scheduled to be made in the first quarter of 2024.

In 2023, the Group’s companies maintained a competitive and stable average salary for all Ukrainian employees, minimizing the transfer of employees to a downtime mode with remuneration in accordance with Ukrainian legislation.

During the full or partial shutdown of production caused by Russia’s full-scale military invasion of Ukraine, the company actively engaged employees in security, housekeeping and other support activities to maintain a stable income for employees.

These measures helped ensure a competitive level of remuneration for Ferrexpo employees throughout 2023.

«We are grateful for the dedication and hard work of our employees and strive to reward them for their contribution to Ferrexpo’s success. Even in the difficult conditions of the war, the company has maintained competitive salaries for its employees. In addition, in January 2023, each employee also received an annual incentive for their work in 2022 to maintain financial stability,» Yulia Klevova, HR director of Ferrexpo in Ukraine, comments.

As GMK Center reported earlier, in January-September 2023 Ferrexpo paid more than UAH 1.45 billion in taxes and fees to the budgets of all levels of Ukraine. Poltava Mining remitted more than UAH 845 million in taxes, Yeristiv Mining – 570 million UAH, Bilaniv Mining – 48 million UAH.