Swiss-headquartered miner Ferrexpo, whose main interests are in Ukrainian iron ore assets, has announced that it has temporarily suspended production at its operations in Ukraine following further attacks on the country's electricity infrastructure, including transmission lines and substations.
According to the statement, the attacks have resulted in unstable electricity supplies, with available power insufficient to sustain production. Consequently, the company has decided to temporarily halt its production activities.
Ferrexpo stated that it will continue monitoring the electricity supply situation and intends to resume production once operating conditions allow it to do so on a commercial basis.
Meanwhile, confirming that its assets have not sustained any damage from the attacks, the company also stated that it remains able to supply its European customers using existing inventory stockpiles.
