Ferrexpo temporarily suspends production amid power supply disruptions

Ukraine-focused iron ore producer Ferrexpo has temporarily suspended production after further attacks on Ukrainian electricity infrastructure disrupted power supplies to its operations.

The company said electricity supply has become unstable and insufficient to sustain production. Ferrexpo will monitor the situation and plans to resume operations once conditions allow production to restart on a commercially viable basis.

Ferrexpo said its assets have not been damaged, and it can continue supplying its European customers from existing inventory stockpiles.

The company did not provide a timeframe for the resumption of production and said it would provide further updates as appropriate.

Ferrexpo, headquartered in Switzerland with assets in Ukraine, produces high-grade iron ore products for the global steel industry. Before Russia's full-scale invasion in 2022, the company was the world's third-largest exporter of iron ore pellets.