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Ferrexpo halts iron ore output over threat to Ukrainian ports
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Interfax-Ukraine
Ferrexpo, a mining company with its main assets in Ukraine, has decided to temporarily suspend iron ore production to preserve working capital amid a constant threat of Russian attacks on and around Ukrainian ports.
The resumption of production depends, among other things, on an injection of additional working capital," Ferrexpo said in a stock exchange announcement on Wednesday.
Absent additional financing, the company expects its net available cash resources to last until mid-September 2026, according to the document.
Ferrexpo owns a 100% stake in Yerystivskyi Mining and Processing Plant LLC, 99.9% in Bilanivskyi Mining and Processing Plant LLC, and 100% of the shares of Poltava Mining and Processing Plant PJSC.
The London Stock Exchange has suspended trading in Ferrexpo shares since May because the company has been unable to publish its annual report on time.