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Ferrexpo PLC on Monday said its Ferrexpo Poltava Mining operation has not suffered any disruption in the face of legal proceedings. The iron ore pellet producer said production volumes for February were the highest since the beginning of Russia’s invasion of Ukraine in 2022. Furthermore, the company provided an update on ongoing legal cases. A preparatory court hearing at the at a commercial court in Ukraine relating to UAH4.5 million, around $115,000, debt claimed by LLC PCC, or Kysen, has been rescheduled to April 9. That figure was increased from UAH2.2 million. It also noted that two court hearings that had been scheduled for Wednesday did not take place. Regarding the appeal against a claim of UAH4.73 billion over contested sureties, FPM awaits a new court date after the presiding judge recused himself. This follows two court rulings back in February and August which ruled in favour of the claimant against the company. Separately, a Ukrainian court of appeal bail hearing for the FPM General Director Viktor Lotous and his failure to declare assets in the ongoing royalties case which had been scheduled for March 20 was postponed. A reconvened hearing is scheduled April 2. The company has said that it is working closely with legal advisors and that operations ‘remain unaffected.’ Ferrexpo shares were up 3.9% to 44.90 pence in London on Monday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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