25 June 2021, Friday, 13:58 553

Zelenskyy Enacts NSDC Decision On Sanctions Against Belanivskyi OMEP, Part Of Ferrexpo, Which Provides For Cancellation Of Special Permit For Haleschynske Iron Ore Deposit In Poltava Region

Редактор: Daria Zubkova

President Volodymyr Zelenskyy put into effect the decision of the National Security and Defense Council (NSDC) on sanctions against the Belanivskyi ore mining and enrichment plant (OMEP), which is part of the Ferrexpo group (Horishni Plavni, Poltava region), which provides for the cancellation of special permission for the use of subsurface resources No. 3571 for the Haleschynske (Kremenchuhske) iron ore deposit (Poltava region).

This is stated in the presidential decree No. 266 of June 24, Ukrainian News Agency reports.

Sanctions include indefinite cancellation or suspension of licenses and other permits, the receipt (availability) of which is a condition for the implementation of a certain type of activity, in particular, the cancellation or suspension of a special permit for the use of subsoil for a given field.

Belanivskyi OMEP owns two special permits for the use of subsoil: No. 3571 for the Haleschynske (Kremenchuhske) iron ore deposit (issued on December 20, 2004 until December 20, 2036) and No. 3572 for the Belanivske ferruginous quartzite deposit (issued on December 20, 2004, until December 20, 2024) (both - Poltava region).

As Ukrainian News Agency earlier reported, on June 24, President Volodymyr Zelenskyy put into effect the decision of the National Security and Defense Council on sanctions against 538 individuals and 540 legal entities.

Belanivskyi OMEP LLC was established in December 2009 with the aim of industrial development of Belanivske and Haleschynske deposits of ferruginous quartzites.

The Ferrexpo group includes Belanivskyi, Poltavskyi and Yerystovskyi ore mining and enrichment plants (Horishni Plavni, Poltava region).

In 2020, Ferrexpo increased pellet production by 6.6% or 699,000 tons year over year to 11.218 million tons.

In 2020, the company increased profits by 57.5% or USD 232 million year over year to USD 635.292 million, increasing revenue by 12.8% or USD 193 million to USD 1.7 billion.

In 2020, the company increased EBITDA (profit before taxes, interest and amortization) by 46.6% or USD 273 million year over year to USD 859 million.

The majority shareholder of the Ferrexpo group is businessman Konstantin Zhevago.