Poltava Mining and Processing Plant resumes production
9 March 16:00
After a month and a half of downtime, mining company Ferrexpo is resuming production at Poltava Mining and Processing Plant. This is stated in the company’s announcement, according to "Komersant Ukrainian".
“The group resumed production and export of iron ore products after temporarily halting it on January 20 due to power outages.”
After the temporary suspension of operations announced on January 20, 2026, improved availability and prices for domestic and imported electricity allowed production to resume at FPM.
One pellet line is currently in operation. The group uses its own fleet of railcars to export to customers in Eastern and Central Europe.
The company noted an improvement in the prices of domestic and imported electricity, which allowed the PGZK to resume operations. Commenting on the resumption of production, Lucio Genovese, acting chairman of the board, said:
“We are pleased that with the arrival of spring in Ukraine, we have been able to resume our activities, producing and exporting our high-quality iron ore products. After intense attacks on Ukraine’s electricity production and transmission infrastructure, we are grateful for the hard work across the country that has allowed repairs to be completed quickly.”
In January, it was reported that Ferrexpo, one of the largest mining groups, was suspending its operations due to power supply problems in Ukraine.
Earlier, in the fall of 2025, Ferrexpo temporarily suspended production at the Yeristovsky and Poltava mining and processing plants in the Poltava region after Russian attacks.
Earlier, it was reported that Maxi Capital Group was initiating bankruptcy proceedings against the Poltava Mining and Processing Plant (FPM), which is part of the Ferrexpo group.
Ferrexpo is a Swiss iron ore company headquartered in Ukraine, whose assets are traded in the shares category (commercial companies) on the London Stock Exchange (ticker FXPO) and are part of the FTSE All-Share index. The group produces iron ore products, and Ferrexpo has been supplying products to the global steel industry for over 50 years. Prior to the full-scale invasion of Ukraine in February 2022, the group was the world’s third-largest exporter of iron ore pellets. The Group has a global customer base consisting of premium steel mills around the world. Ferrexpo owns 100% of Yeristovsky GOK LLC, 99.9% of Bilanovsky GOK LLC, and 100% of Poltavsky GOK PJSC. The shareholder of the Ferrexpo group is businessman Konstantin Zhevago.
