Ferrexpo, a mining company with its main assets in Ukraine, has secured a $15 million credit line from Fevamotinico SaRL, a company owned by Minco Trust, whose ultimate beneficiary is businessman Konstantin Zhevago.
According to a stock exchange announcement, Ferrexpo plc has entered into a loan agreement with its largest shareholder, Fevamotinico, which will provide an unsecured credit line in the principal amount of $15 million.
The purpose of the loan is to provide the company with immediate access to liquidity until the completion of the capital raising process totaling approximately $100 million, as announced on September 4, 2026, as well as to support working capital needs and production operations, which resumed on September 7. The loan effectively serves as an advance payment of a portion (approximately $40 million) of the funds that Fevamotinico has committed to contribute as part of the capital raising.
It is specified that interest on the loan is accrued at a rate of 9.75% per annum; the maturity date is 12 months after the date the funds are disbursed. Repayment of the loan, together with accrued interest, will be made by offsetting the amounts that Fevamotinico is required to pay to Ferrexpo under the share subscription agreement following the company’s listing. This loan is subordinated; therefore, claims under it will be satisfied after the claims of the company’s existing unsecured creditors.
If the general meeting to be held on September 21, 2026, does not approve the capital raise or if the placement agreement is terminated, the company may decide to repay the loan by issuing new common shares at the placement price (or, if the fair market value is lower than the placement price, at such lower price as agreed upon by the company and Fevamotinico), subject to compliance with all legal or regulatory requirements regarding such issuance of shares, including obtaining prior approval from independent shareholders.
In addition, as long as the loan remains outstanding, the loan agreement restricts the group members’ ability to raise debt or provide collateral for obligations, except for those falling within specified permitted categories (in particular, a potential credit line to finance trade transactions, as well as certain agreements entered into in the ordinary course of business or between group companies) .
The terms of the loan provide for certain standard events of default that entitle Fevamotinico to demand early repayment of the loan. However, Fevamotinico has agreed not to take any action to collect the loan debt in cash prior to its maturity date. The loan agreement also contains a standstill provision, under which Fevamotinico undertakes not to make any claims against Ferrexpo or to initiate proceedings for its liquidation, external administration, or any other insolvency-related proceedings, nor to facilitate such actions by other parties.
If the fundraising does not take place and the placement agreement is terminated, the principal amount of the loan, together with accrued but unpaid interest, will be due for repayment in cash on the maturity date, unless the alternative repayment mechanism described above—involving the transfer of shares—is successfully implemented. If Ferrexpo is unable to repay the loan in cash by the specified deadline, and the alternative repayment mechanism involving shares is not implemented, the company will have to raise additional financing or negotiate other terms for settling the debt with Fevamotinico.
Fevamotinico is a related party of Ferrexpo under the UK Listing Rules, as it is a significant shareholder of the company and has the right to vote (or control the exercise of voting rights) with respect to 49.27% of the votes at the general meeting of shareholders. Accordingly, the granting of the loan is considered a related-party transaction.
The company’s directors consider the terms of the loan to be fair and reasonable in the interests of the shareholders. The Board of Directors received appropriate advice from BDO LLP, which acts as the company’s sponsor. In providing this advice to the directors, BDO LLP took into account the commercial assessment of the loan conducted by the directors themselves.
Ferrexpo owns a 100% stake in Yeristovsky GOK LLC, a 99.9% stake in Bilanivsky GOK LLC, and 100% of the shares in Poltava GOK PJSC.
This information has been officially confirmed. On September 7, the Kyiv Defense Council decided to change the city’s operating schedule effective at 12:00 a.m. on September 10, 2026. The curfew in the capital will be in effect from 1:00 a.m. to 5:00 a.m. instead of the current 12:00 a.m. to 5:00 a.m., Kyiv Mayor Vitali Klitschko announced. The decision was made following relevant changes and recommendations from the government.
Due to the shortened curfew, the operating hours of the city’s public transportation system will be extended by one hour. However, the operating hours of restaurants, entertainment venues, and shopping and entertainment centers will remain unchanged.
A separate measure applies to train passengers arriving in Kyiv late. During curfew hours, the city will organize four bus routes from the Central Railway Station so that arriving passengers can reach different parts of the capital. City authorities will announce the specific routes and schedules at a later date.
Metro operations will also change significantly during air raid alerts. Since September 6, Kyiv has been operating a differentiated alert system that includes a yellow level—specifically, in the event of a drone threat—and a red level in the event of a massive drone, missile, or combined threat. (
At the yellow level, the Syretsko-Pecherska Metro Line (the green line) will operate without restrictions, including train service across the South Bridge between the left and right banks.
At the red alert level, service on the open section of the Green Line across the Dnieper will be suspended. Trains will run separately on the “Syrets”–“Vydubychi” and “Slavutych”–“Krasnyi Khutor” sections.
The Svyatoshynsko-Brovarska Line (the red line) will continue to operate on a limited basis. Passengers will be transported along the underground section from “Akademgorodok” to “Arsenalnaya.” The open section across the Dnieper will not be used under these conditions.
To compensate for the restrictions, temporary bus No. 1-M “Dvorets Sporta – Lesnaya” has been in operation since September 3; it passes through “Arsenalna” and covers a significant portion of the Red Line’s surface section. Twelve buses are scheduled to operate on the route during peak hours.
Ground public transportation will continue to operate without general restrictions during air raid alerts. The government explains the new model as an effort to prevent the city’s infrastructure from grinding to a halt during prolonged air raid alerts, while maintaining stricter restrictions when the threat is high.
Starting September 10, traffic regulations on certain bridges will also change. The South Bridge will remain open to traffic during an air raid alert, but there will be a 30-minute closure for operational reasons following the announcement of the alert and another 30-minute closure after the all-clear is given. Access to the bridge from Saperno-Slobodska Street and Mykhailo Boichuk Street will be closed during an alert. The Darnitsky Bridge, the Paton Bridge, the Metro Bridge, and the Northern Bridge will continue to operate under current regulations. Similar half-hour operational restrictions are in place on the Podilsky Bridge, where two-way traffic will also be implemented.
In addition, due to the deteriorating security situation, Kyiv is temporarily banning entertainment and sports events in open areas and in indoor facilities without shelters. At the yellow alert level, Administrative Service Centers (TSNAPs) and social service agencies will be able to continue providing services, while schools and medical facilities will operate in accordance with current safety protocols.
Thus, the information circulating largely corresponds to the official decision. The main clarification: the changes take effect at 12:00 a.m. on September 10, and the shortening of the curfew does not mean an automatic extension of operating hours for restaurants and shopping centers—the city has decided to leave their schedules unchanged.
On September 3, PJSC “National Energy Company (NEC) ”Ukrenergo” announced its intention to enter into a contract with Transmagistral Insurance Company for voluntary health insurance services for its employees. According to the Prozorro electronic government procurement system, Transmagistral Insurance Company submitted the lowest bid—77.989 million hryvnias—compared to the expected cost of 111.975 million hryvnias for the services.
Also participating in the tender were the insurance companies “VUSO” with a bid 1 UAH higher, the “TAS” Insurance Group—1 UAH higher than “VUSO’s”—and “Kraina” with a bid of 84.3 million UAH.
As previously reported, the “TAS” Insurance Group was the winner of a similar tender a year earlier.
“Ukrenergo” operates trunk and interstate power transmission lines and also provides centralized dispatch control of the country’s unified power system. The National Electricity Transmission Company is a state-owned enterprise under the jurisdiction of the Ministry of Energy and Coal Industry of Ukraine.
PJSC “Zaporizhkox,” one of Ukraine’s largest producers of coke and coke-chemical products and a member of the Metinvest Group, reduced its blast furnace coke production by 9.6% in January–August of this year compared to the same period last year, down to 535,900 metric tons.
According to the company, 38.1 thousand metric tons of coke were produced in August, compared to 63.4 thousand metric tons the previous month and 79.6 thousand metric tons in August 2025.
“The decline in production volumes in August 2026 compared to the same period in 2025 is due to a reduction in coal concentrate supplies to the plant. This is linked to the disruption of operations at Ukrainian Black Sea ports due to the aggressor country’s constant attacks on international merchant vessels, particularly those transporting raw materials for the Ukrainian metallurgical industry,” the press release explains.
As previously reported, in 2025, “Zaporizhkox” increased its output by 2.7% compared to 2024—to 898,300 metric tons, while in 2024, output rose by 2.1% to 874,700 metric tons from 856,800 metric tons in 2023.
“Zaporizhkox” operates a full technological cycle for the processing of coke-chemical products.
Metinvest is a vertically integrated mining group of companies. Its major shareholders are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the management company of the Metinvest Group.
Construction work at the Greenville Prostir residential complex (Lviv Oblast, Lysynychi village, 2 Osvitna St.) has resumed following the resolution of a legal dispute regarding the terms of use of the land plot.
According to the developer’s press office, the dispute centered on the amount of rent for the land plot in Lysynychi. As part of the settlement, the Greenville Group and the Lviv City Council agreed on a new rent amount and a mechanism for compensating the community budget for the difference arising from the previous period of land use.
“As the project’s developer, we took responsibility for finding a solution. It was important for us not to prolong the legal dispute but to find a model that takes into account the interests of the city, the community, and our investors. Today, this issue has been resolved, and we are resuming work on Greenville Prostir,” said project manager Oleg Kozub.
On August 11, the Lviv Regional Commercial Court approved the agreement reached by the parties and closed the case. With the court restrictions lifted, the company was able to resume construction work on the site.
The company’s next step is to restore construction work to full speed and present investors with an updated project timeline.
According to the LUN new-construction portal, the Greenville group of companies, founded in 2007, is carrying out projects in Lviv and Kyiv; since 2010, 45 buildings have been commissioned, and six buildings are currently under construction.
Global wheat production in 2026 could decline by 3.8% compared to 2025—to 810.7 million metric tons, according to a forecast by the FAO (Food and Agriculture Organization of the United Nations).
Based on August data, the FAO raised its forecast for the global wheat harvest by 0.5%, but despite this revision, production may still be 3.8% lower than last year’s figure (798.5 million metric tons), according to the report.
The increase in the August forecast is primarily due to upward revisions in estimates for Canada, Morocco, Russia, and Ukraine. These increases more than offset the downward revisions for the EU and the United Kingdom, where a lack of rainfall and high temperatures led to lower yields.
The FAO’s August forecast for the world’s total grain harvest has been lowered by 3.4 million metric tons—to 2.98 billion metric tons—compared to the July level. “Taking into account the latest adjustments, production in 2026 could be 2% lower than last year’s level, which would mark the most significant annual decline since 2018,” the report states.
The revision of the overall forecast is largely due to a 0.6% downward revision of the corn harvest estimate to 1.309 billion metric tons. This is primarily due to worsening harvest forecasts in the EU, where hot and dry weather conditions in key production regions—particularly in France and Poland—have led to a deterioration in crop conditions and reduced expected yields to below the five-year average, according to FAO experts.
In addition, based on the latest official estimates, production forecasts for India and Paraguay have been revised downward. This decline more than offset the upward revisions for Argentina and Brazil, where the 2026 harvest could turn out to be significantly higher than average levels.
