Ferrexpo PLC (LSE:FXPO) said it has been notified of a “partial resumption” at its operations in central Ukraine after production was suspended following Russian missile strikes which damaged power lines.
Despite repairs on the state electrical infrastructure, the Swiss-headquartered iron ore producer said the supply of power to its plant is “variable and limited”, which makes it less cost-effective.
This has led the FTSE 250-listed group to use what power it has to focus on drawing down stockpiles of finished iron ore products to supply to customers.
These stockpiles have been used to ensure a “consistent supply” to customers since production was halted after the Russian missile attacks.
Ferrexpo said it has “sufficient stockpiles to meet customer demand”.