Ferrexpo has temporarily suspended production at its iron ore operations in Ukraine after further attacks on the country's electricity infrastructure cut the power supply to its plants. The London-listed miner announced the halt in a stock market statement on Tuesday 10 November 2026.

The company said attacks on transmission lines and substations had left electricity supplies to its operations unstable and insufficient to sustain production, and it had therefore decided to stop production for now. Ferrexpo said it would keep monitoring the situation and intended to resume production once operating conditions allowed it to do so on a commercial basis. No date for a restart was given.

No damage to assets, customers supplied from stockpiles

Ferrexpo said there had been no damage to its assets in the latest attacks. The group added that it was currently able to supply its European customers from existing inventory stockpiles, so deliveries continue while production is paused.

The company did not disclose how much stock it holds or what financial effect the interruption might have. The announcement was issued as inside information, which means the company judged it significant enough that investors needed to know at once.

A year of power disruption for the miner

Ferrexpo is a Swiss-headquartered iron ore producer whose mines and processing plants are in Ukraine. It supplies iron ore pellets to steel manufacturers, mainly in Europe, and its operations have been repeatedly disrupted by attacks on Ukraine's power network since the full-scale invasion in February 2022.

The disruption has already cut output sharply this year. Ferrexpo reported total commercial production of 1.6 million tonnes for the first six months of 2026, down 54% on the same period in 2025, including 1.4 million tonnes of premium iron ore pellets. Attacks early in the year forced a temporary suspension of operations before the company was able to restart limited production on one of its four pellet lines. It also suspended production in August, when it cited the blockade of Ukrainian ports and working capital problems.

The war has also weighed on the company in other ways. At 30 June 2026 Ferrexpo reported a net VAT receivable balance in Ukraine of US$82.7 million, after the Ukrainian tax authorities continued to suspend VAT refunds, squeezing the group's liquidity. The company also said 804 of its colleagues were serving in the Armed Forces of Ukraine at the end of June, with a further 218 demobilised since the start of the full-scale invasion.

What happens next

Any restart now depends on the electricity supply to the company's sites around Horishni Plavni in central Ukraine becoming stable enough to run production commercially. Until then, Ferrexpo's ability to keep supplying steelmakers rests on the stockpiles it has already built up. The company said it would provide updates as appropriate.

Read the company's announcement via Investegate and the report from GMK Center.