In 2023 safety performance of Ferrexpo remained strong

In 2023 Ferrexpo, the London listed iron ore company with assets in Ukraine, recorded zero fatalities for third successive year, while lost time injury frequency rate (LTIFR) decreased by 37% y-o-y – to 0.32. So, Ferrexpo continues to operate significantly below its historic trailing average LTIFR (2018-2022), which is 0.69.

It is stated in the released Full Year Financial Results for 2023 of the company.

The war added specific risks to activity of Ferrexpo and its employees. Nevertheless, the Group helps workers and their families to adapt to new conditions. Some employees are in relevant positions with suitable roles got possibility to work remotely. For on-site workers company equipped air-raid shelters and adjusted shift patterns to align with night-time curfews.

In 2023 Ferrexpo increased number health and safety inspections by 16% y-o-y to ensure safe working conditions. The Group’s approach to mitigating safety risks is to understand the causal factors of safety incidents through creating special risk registers for each activity. At the Poltava GZK, Yeristivsk GZK and Bilanivsk GZK, which belong to Ferrexpo, also continue to be implemented modern technologies, including autonomous equipment, which help to remove operators from hazardous working environments.

As GMK Center reported earlier, the Group announced its ‘Vision Zero’ programme, designed to reduce operational injuries and instances of occupational disease for employees. As part of this process, Ferrexpo changed its approach to reporting. Then reports include near-accidents, which make it possible to prevent similar hazardous situations in the future.