Ferrexpo investors have approved an emergency $100 million fundraising to keep the iron‑ore miner afloat after months of cash depletion caused by Ukraine’s dispute with billionaire shareholder Kostyantyn Zhevago. The plan, backed by more than 99 % of shareholders, sees Zhevago’s trust contribute $40 million while reducing its stake from about 49 % to 45 %. Another Ukrainian tycoon, Andriy Verevskyi, will inject $50 million, giving the group enough liquidity for roughly 18 months of operations.

Ferrexpo, whose shares have dropped over 60 % this year, resumed trading on the London Stock Exchange after a temporary shutdown and published delayed audited results. Interim Executive Chair Lucio Genovese warned that the company is caught in a political‑economic tug‑of‑war with Kyiv, which has withheld VAT refunds since March 2025. The funding aims to avoid a cash cliff at the end of October and preserve the company’s market capitalization of about £165 million.