Ferrexpo has temporarily suspended production in Ukraine due to attacks on the country's energy infrastructure.
This was announced in a company statement published on the London Stock Exchange.
“Ferrexpo plc, an iron ore company with assets in Ukraine, has decided to temporarily stop production because further attacks on Ukrainian electricity infrastructure, including transmission lines and substations, have left power supply to its operations unstable and insufficient to sustain production,” the statement said.
Ferrexpo noted that the attacks had affected power transmission lines and substations. However, the company’s own assets were not damaged.
The company is currently supplying its European customers from existing inventories.
Ferrexpo intends to resume production as soon as conditions allow.
