Ferrexpo PLC (LSE:FXPO) said iron ore pellet production at its central Ukraine operations has been suspended as it has limited power levels after Russian missile strikes damaged state-owned electrical infrastructure.
The FTSE 250-listed company, which confirmed that no members of its workforce have been injured as a result of the attacks, said limited power supply is available at its operations as it is being prioritised for essential services and local communities.
Although production has been suspended, the group said it currently has a sufficient volume of its products in transit or in stockpiles to meet expected sales volumes, if it can get access to logistics.
Engineers are assessing the damage to the electrical infrastructure in order to estimate the period of production downtime, it said, noting the situation is developing and that updates will be made to the market when appropriate.
"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," said chief executive Jim North.
"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."