Ferrexpo to give $2.5 million in fight against the coronavirus

According to Interfax-Ukraine, the Ferrexpo Corporation will give $2.5 million to healthcare institutions to fight against the coronavirus epidemic in Poltava oblast and throughout Ukraine.

The allocated funds will be spent to purchase ventilators, coronavirus tests and other necessary equipment. The company will provide further financial assistance depending on the needs of healthcare institutions.

“Ferrexpo has donated money to provide hospitals and medical workers of Gorishni Plavni, Kremenchuk and Poltava with necessary equipment and means for the treatment of the coronavirus patients and prevention of the spread of the epidemic,” reads the Company’s message.

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 2019, the Ferrexpo Group decreased iron ore pellet production by 0.8% to 10.5 million tons. Its pellet sales volume in 2019 amounted to around 10.3 million tons, up from 2018 (10.2 million tons).