Ferrexpo appoints new auditor after Deloitte resignation

Ferrexpo has appointed MHA MacIntyre Hudson, the UK member of Baker Tilly International, as auditor for the current financial year with immediate effect.

Meanwhile, the company's appointment for subsequent financial years will be subject to approval by shareholders at each annual general meeting.

The new appointment follows Deloitte's departure as auditor in April, when the accounting giant alleged that Ferrexpo had deliberately delayed an investigation into the use of funds by a charity partner in Ukraine, though the iron ore miner has rejected these allegations.

"The board of Ferrexpo looks forward to working with MHA MacIntyre Hudson and Baker Tilly International, one of the top ten audit networks in the world, which has significant audit capability in Ukraine having operated there since 1999," the company said.

Ferrexpo's shares were up 0.64% at 282.90p at 0914 BST.