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Ferrexpo PLC on Monday said it has suspended operations at two subsidiaries, following a weekend attack on Ukrainian transmission infrastructure. The iron ore pellet producer said missiles hit energy transmission targets in Horishni Plavni in the early hours of Saturday. Horishni Plavni is a mining city where Ferrexpo is located. ‘Following the attacks the supply of power was cut to the city of Horishni Plavni and operations at the group’s subsidiaries, Ferrexpo Poltava Mining and Ferrexpo Yeristovo Mining were suspended,’ the firm said. ‘In preparation for such events, the group has established stocks of intermediary non-finished and finished iron ore products on site and at other locations to minimise disruption to its production cycle and exports. Over the weekend, a limited amount of power has been restored to FPM and FYM and parts of the processing plant are once again operational. Efforts continue to restore power and production capacity.’ Shares in Ferrexpo were down 3.7% at 50.67 pence each in London on Monday morning. Shares are down around 38% over the past 12 months and have slumped more than 80% since Russia mounted its full scale invasion of Ukraine back in February 2022. According to a ‘responsible business report’ published by Ferrexpo earlier this month, 706 members of its workforce were serving in the Ukrainian armed forces as of the end of 2024. ‘Tragically, ten colleagues were killed serving in the armed forces of Ukraine during 2024, and five more in 2025 as of the date of the publication of this report, bringing the total to 51,’ the report, published on Tuesday, said. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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