Ferrexpo 'closely monitoring' Ukraine developments

Ferrexpo said on Thursday that it was "closely monitoring" developments in Ukraine after Russian forces invaded.

The FTSE 250 exporter of high grade iron ore pellets said it was "continuing to assess developments locally and will prioritise the safety of its workforce".

The company said its mining and processing facilities - located adjacent to the city of Horishni Plavni, in central Ukraine, where the situation remains stable - are currently in operation. However, the government of Ukraine has now suspended rail transportation.

"The group will make a further announcement as and when appropriate," Ferrexpo said.

At 1020 GMT, the shares were down 24% at 187.27p.