Gold prices hold sharp gains as soft US jobs data fuels Fed rate cut bets
LONDON - Ferrexpo Plc (LSE:LON:FXPO), a leading iron ore pellet producer, has disclosed its payments to governments for the year ended December 31, 2024. The company, which supplies the global steel industry, reported total payments of $50,708,000 to Ukrainian authorities as part of its compliance with The Reports on Payments to Governments Regulations 2014.
The payments made by Ferrexpo and its subsidiaries included $23,827,000 in taxes and $26,881,000 in royalties to the Ukrainian state. The breakdown of payments to the state treasury shows that the state budget received $34,079,000, the regional budget was allotted $8,881,000, and the local budget received $7,748,000. No production entitlements, dividends, bonuses, licenses, concessions, or infrastructure improvements were reported as paid.
Ferrexpo regards the payments relating to its mining operations in Ukraine as interconnected projects, in line with the regulatory framework. Taxes reported exclude consumption-related taxes such as value-added taxes, personal income taxes, or sales taxes. Moreover, payments made in currencies other than U.S. dollars were converted using the average foreign exchange rate for the respective month.
This announcement, based on a press release statement, highlights Ferrexpo’s commitment to transparency in its financial dealings with government entities. The full report is available for download on the company’s website.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.