Ferrexpo suspended production in Ukraine due to shelling of the energy sector

The mining company Ferrexpo plc, the main production assets of which are located in the Poltava region, temporarily stopped the extraction and beneficiation of iron ore products in Ukraine. The reason is unstable electricity supply due to repeated attacks on critical infrastructure facilities.

The press service of the company informed about the stop. According to her, enemy strikes damaged power lines and substations, due to which the power supply of the group's production facilities became unstable and insufficient to support the technological process. Because of this, the management decided to temporarily stop the work of the enterprises.

Stocks will cover deliveries to Europe

The company emphasized that the production assets themselves were not affected by the shelling. "Ferrexpo's assets were not damaged; the group is currently able to deliver to European customers from existing stocks of finished products," Ferrexpo said. The Group will continue to monitor the power supply situation and will resume production as soon as operational conditions permit to do so on a commercial basis.

Ferrexpo plc is one of the world's largest producers of iron ore pellets, the company's securities are traded on the London Stock Exchange.

This is not the first forced shutdown of the enterprise this year: in early August, Ferrexpo already suspended production for a month - then the reason was problems with sea logistics of product supply.