Investments totaling 100 million dollars enabled the restart of production
Mining company Ferrexpo has resumed iron ore production in Ukraine following a month-long shutdown. The facility launched one pelletizing production line after securing 100 million dollars in funding. This was reported by Economichna Pravda citing London Stock Exchange, according to the portal PromPolitInform.
The successful acquisition of 100 million dollars in financing allowed for the mobilization of production capacities over the weekend. Manufacturing processes at the facility commenced on one of the technological lines following a short-term system restart.
Focusing on the European market
Due to constant Russian shelling of ports and vessels in the Black Sea, export logistics are facing significant challenges. In this regard, the management of the mining company decided to focus on supplying products directly to European consumers.
“We are pleased to resume production in Ukraine, and I would like to thank our employees, who once again demonstrated their dedication and determination by managing to restart the enterprise’s operations over the weekend,” said Lucio Genovese.
Previous investments and plant shutdown
Previously, it was reported that businessman Andriy Verevskyi, who owns the Kernel company, provided financial support. He invested 50 million dollars in the acquisition of shares in the mining company Ferrexpo.
The shutdown of production processes at the Ukrainian facilities occurred at the beginning of August. At that time, the operations of the mining and processing complexes were completely suspended due to issues with maritime logistics.
Photo: Economichna Pravda
