Iron ore producer Ferrexpo reports 40% decline in Q2 production, shares fall Investing.com -- Iron ore producer Ferrexpo (LON:FXPO) reported a 40% sequential decline in second-quarter production on Monday, as suspended tax refunds in Ukraine squeezed the company’s liquidity. The miner’s shares fell 2.5% following the announcement. Ferrexpo stated it had to reduce operations due to financial constraints after Ukrainian tax authorities suspended $31 million in value-added tax (VAT) refunds from January to April. To maintain financial viability, the company has placed approximately 37% of its workforce on reduced working hours or furlough. Ferrexpo also cut procurement of goods needed for production operations. The company’s Poltava Mining unit is currently facing potential bankruptcy proceedings, according to the announcement. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Ferrexpo shares surge amid Ukraine-Russia ceasefire talks FXPO FTSE hereremove ads Latest comments Install Our AppScan QR code to install app Google Play App Store Blog Mobile Portfolio Widgets About Us Advertise Help & Support Authors Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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Ferrexpo plc Notes Potential Legal Challenges in Ukraine Amid Ongoing Operations Ferrexpo plc acknowledges a recent announcement regarding potential legal actions in Ukraine, while maintaining its commitment to operations in the region. Despite challenges, the company remains dedicated to producing high-quality iron ore pellets.

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Ferrexpo plc Responds to Media Announcement Regarding Corruption Inquiry in Ukraine Ferrexpo plc addresses recent media reports about a potential claim related to a corruption inquiry in Ukraine. The company is currently gathering information on the situation.

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Recent Developments in Ferrexpo plc: Addressing Potential Claims in Ukraine Ferrexpo plc responds to a media announcement from Ukraine's State Bureau of Investigation regarding possible claims made against the company.

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Ferrexpo plc Responds to Potential Legal Claims in Ukraine's High Anti-Corruption Court Ferrexpo plc addresses a media announcement by Ukraine's State Bureau of Investigation regarding possible legal claims, maintaining corporate transparency.

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