Miner Ferrexpo seeks at least $100 million to avoid insolvency as Ukraine war hits operations

Ferrexpo

22/04/2026 07:28

April 22 (Reuters) - Iron ore pellet producer Ferrexpo FXPO.L said on Wednesday it was pursuing a potential equity raise of at least $100 million to stave off insolvency, warning it had only enough accessible cash to survive until about August-end without new funding.

The Ukraine-focused miner said its net accessible cash had fallen to about $20 million as at April 17, down from $101 million at 2024-end, hammered by the Ukraine war-led disruption to operations and legal proceedings.

 (Reporting by DhanushVignesh Babu in Bengaluru; Editing by Subhranshu Sahu)

 ((DhanushVignesh.Babu@thomsonreuters.com))