Ferrexpo suspends iron ore production in Ukraine after Russian strikes disrupt power supply
Swiss-based iron ore producer Ferrexpo has temporarily suspended production at its operations in Ukraine after Russian attacks on the country's electricity infrastructure disrupted power supplies, the company announced on Nov. 10.
In a statement released through the London Stock Exchange's regulatory news service, Ferrexpo said further attacks had damaged Ukraine's electricity infrastructure, including transmission lines and substations.
As a result, electricity supplies to the company's operations have become unstable and insufficient to sustain production.
Ferrexpo said its own assets had not been damaged in the attacks.
The company plans to resume production once operating conditions allow it to do so on a commercially viable basis. It did not provide a timeline for restarting operations.
In the meantime, Ferrexpo said it remains able to supply its European customers using existing stocks of finished products.
Ferrexpo is a Swiss-based iron ore company with major production assets in Ukraine, including the Poltava, Yeristove and Bilanivske mining and processing operations.
The suspension illustrates how Russian attacks on Ukraine's energy infrastructure can disrupt industrial production even when factories and mining facilities are not directly hit.
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