Swiss mining company Ferrexpo, whose main interests are related to Ukrainian iron ore assets, announced production results for the first quarter of 2026.
In the first quarter of this year, the company's iron ore production decreased by 72.1 percent year-on-year and by 44.8 percent compared to the previous quarter to 592,751 tons. Specifically, the company's pellet output totaled 524,926 tons, up 27.1 percent quarter-on-quarter and down 61.0 percent year-on-year.
Production activities were largely suspended in the first quarter due to nationwide attacks on Ukraine's power generation and transmission infrastructure. Production resumed with limited resumption of operations at reduced capacity levels in late February 2026 following improvements in electricity availability and prices. The company continues to operate one of its four pellet lines and sell its products to European customers.
Commenting on the company's performance, Lucio Genovese, interim executive chairman, said: “The lower production figures in the first quarter, almost half of what we achieved in the last three months of 2025, reflect Russia's targeted attacks on Ukraine's energy infrastructure late last year and the resulting impact on our ability to operate sustainable. By January, given that the supply of electricity could not be provided on a sustainable basis in the required volumes, we were forced
