Ferrexpo stops production after attacks on Ukrainian electricity infrastructure

(Sharecast News) - Ukraine-focused iron ore producer Ferrexpo said on Tuesday that it has temporarily stopped production following further attacks on Ukrainian electricity infrastructure, including transmission lines and substations. As a result of the attacks, the supply of electricity to Ferrexpo's operations is currently unstable and insufficient to sustain production, it said.

"The group will continue to monitor the situation and intends to resume production once operational conditions allow this to occur on a commercial basis."

The company said there has been no damage to Ferrexpo's assets and it is currently able to supply its European customers from existing inventory stockpiles. "An update will be provided as and when appropriate," it added.

At 0930 GMT, the shares were down 5.8% at 29.92p.

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