"Some people think that Ferrexpo is Zhevago. This is not true." Ferrexpo head on company's struggles

Ferrexpo Group owns Poltava and Yeristovo Mining and Processing Plants (GZKs) in Ukraine, which extract iron ore and process it into iron ore pellets. This raw material is used to make steel using coke-free technology, which has a lower environmental impact. As a result, pellets are in constant high demand.

The company's shares have been listed on the London Stock Exchange since 2007. Ferrexpo's largest shareholder is Kostyantyn Zhevago, a disgraced Ukrainian oligarch. Criminal proceedings involving him were registered before the start of the great war. Today, Zhevago is in France, which has refused to extradite him to Ukrainian law enforcement agencies.

In 2021, a record year for iron ore companies, Ferrexpo produced and exported 12 million tonnes of pellets. According to the company's financial report, revenue was $2.52 billion and net profit was $871 million.