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Ferrexpo suspends production due to power cuts
KYIV. Oct 11 (Interfax-Ukraine) – Ferrexpo mining company with assets in Ukraine has suspended production at its facilities in Poltava region due to damage to the state power infrastructure by Russian shelling on Monday, October 10.
"Engineers are currently evaluating damage to the electrical infrastructure and assessing the downtime due to repairs," the company said.
Ferrexpo notes that none of its employees were injured in yesterday’s attacks.
"Limited power supply is available at the group’s facilities, which are prioritized for critical equipment needed for essential services and local communities," the company said.
Ferrexpo emphasizes that it currently has enough of its products, either in transit or in stock, to meet expected sales volumes, as long as logistics corridors remain accessible.
"At Ferrexpo, since the start of Russia’s invasion of Ukraine in 2022, our first priority has always been our people, and we are working to ensure the safety of our team in Ukraine. The events of yesterday have resulted in significant damage to major cities across Ukraine, as well as a power outage at our operations and local communities. We are working to ensure that power is provided in critical areas, both within our facilities and in local communities, in order to support the safety of our workforce and community members," Jim North, Chief Executive Officer of Ferrexpo, commented.
Ferrexpo owns 100% of the shares of Poltava GOK, 100% of Yeristovo GOK and 99.9% of Belanovo GOK.
