Swiss-headquartered miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced that a civil lawsuit has been filed against its subsidiary Ferrexpo Poltava Mining (FPM) in Ukraine.
Initially, FPM had been accused of illegally selling waste products from pellet production. Yet, the accusations stacked against the company have extended to illegal mining and selling of subsoil or minerals other than iron ore, causing damage to the environment. Based on these allegations, a civil lawsuit has been filed in a court of first instance in Ukraine for damages amounting to UAH 157 billion ($3.77 billion).
Ferrexpo has rejected the allegations, stating that it mines and extracts iron ore in accordance with its mining license and that the iron ore is used in the production of pellets. Therefore, any waste from these processes is stockpiled in line with the best mining practices and environmental standards.
Also, the company underlined that its operations have not been affected by the lawsuit and that it will provide further updates on the situation.
