Swiss miner Ferrexpo, whose main interests lie in Ukrainian iron ore assets, has announced the resumption of pellet production at its Ukrainian operations following improvements in electricity availability and pricing.
The restart comes after the company temporarily suspended operations in January due to disruptions caused by attacks on power generation and transmission infrastructure in Ukraine, as previously reported SteelOrbis .
Currently, the operation of one pellet production line at Ferrexpo Poltava Mining has been resumed. The company exports iron ore pellets to customers in Central and Eastern Europe using its own fleet of rail cars.
Lucio Genovese, interim executive chairman of Ferrexpo, said the restart reflected the company's ability to adapt to challenging conditions and highlighted efforts across Ukraine to rebuild damaged energy infrastructure.
A banking issue linked to the Swiss subsidiary
Ferrexpo also provided an update on its Swiss subsidiary Ferrexpo AG. The subsidiary maintained a banking relationship with MBaer Merchant Bank AG, which recently had its license revoked and was liquidated by the Swiss Financial Market Supervisory Authority.
Ferrexpo AG holds approximately $3 million in the bank, representing part of the group's net cash resources of approximately $30 million as at 27 February 2026 year.
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