Ferrexpo PLC Report on Payments to Govts (7258D)

TIDMFXPO

RNS Number : 7258D

Ferrexpo PLC

27 June 2019

28 June 2019

FERREXPO plc

("Ferrexpo" or the "Group")

Report on Payments to Governments for the year ended 31 December 2018

Ferrexpo today provides information in accordance with DTR 4.3A in respect of payments made by the Company and its subsidiaries to governments for the year ended 31 December 2018 and in compliance with The Reports on Payments to Governments Regulations 2014, as amended (the Regulations).

 
 2018                 Production                Taxes               Royalties              Dividends                 Bonuses                  Licenses              Infrastructure                    Total 
                      entitlements               paid                  paid                   paid                     paid                and concessions           improvements 
                                                                                                                                                paid                     paid 
-------------  ------------------------  -------------------  --------------------  -----------------------  -----------------------  -----------------------  ----------------------- 
 
                                                                                                                                                                                                  (US$'000) 
-------------  ------------------------  -------------------  --------------------  -----------------------  -----------------------  -----------------------  -----------------------  ------------------- 
 Ukraine 
               ------------------------  -------------------  --------------------  -----------------------  -----------------------  -----------------------  ----------------------- 
   State 
    treasury: 
    State 
    budget                            -               38,302                14,701                        -                        -                        -                        -               53,003 
               ------------------------  -------------------  --------------------  -----------------------  -----------------------  -----------------------  -----------------------  ------------------- 
   State 
    treasury: 
    Regional 
    budget                            -                1,515                 4,900                        -                        -                        -                        -                6,415 
               ------------------------  -------------------  --------------------  -----------------------  -----------------------  -----------------------  -----------------------  ------------------- 
   State 
    treasury: 
    Local 
    budget                            -                3,924                   263                        -                        -                        -                        -                4,187 
               ------------------------  -------------------  --------------------  -----------------------  -----------------------  -----------------------  -----------------------  ------------------- 
   Total 
    Ukraine                           -               43,741                19,864                        -                        -                        -                        -               63,605 
               ------------------------  -------------------  --------------------  -----------------------  -----------------------  -----------------------  -----------------------  ------------------- 
 
 Grand Total                          -               43,741                19,864                        -                        -                        -                        -               63,605 
 

Basis of preparation:

   1.            The Company regards payments relating to the Group's mining operations in Ukraine as interconnected projects for the purposes of the Regulations. 

2. Taxes paid include taxes levied on the income, production or profits of companies but excludes any taxes levied on consumption such as value added taxes, personal income taxes or sales taxes.

3. Payments made in currencies other than US Dollars are translated at the average foreign exchange rate for the relevant month.

This report is available for download at www.ferrexpo.com.

For further information contact:

 
 Ferrexpo: 
  Ingrid McMahon      [phone] 
 
 Maitland: 
  James Isola         [phone] 
 

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for 40 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. In 2018, the Group produced 10.6 million tonnes of pellets, a 2% increase compared to 2017, ranking it as the 3rd largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market f the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com

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END

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June 27, 2019 12:13 ET (16:13 GMT)