Ferrexpo Halts Ukraine Operations Amid Russian Power Grid Attacks
Ferrexpo has suspended all mining in Ukraine as Russian attacks disrupted power. The halt, effective January 20, 2026, will last until power is restored.
Insights:
Ferrexpo PLC , a leading global iron ore producer, has halted all mining operations in Ukraine as of January 20, 2026, in response to renewed Russian attacks on Ukraine's power infrastructure. These attacks have disrupted electricity supplies critical for the company's mining activities. As a result, Ferrexpo has also furloughed part of its workforce, maintaining that operations will resume only when a consistent power supply at required levels is restored.
The operational halt marks a significant escalation from the disruptions experienced in November 2026, when Ferrexpo faced production and export interruptions due to similar Russian drone and missile strikes on Ukraine's power network. During that period, the company managed to continue limited operations by utilizing restored electricity and existing stocks of intermediary and finished iron ore products. However, the current situation represents a complete shutdown, underscoring the increased geopolitical risks to the global iron ore supply chain.
