Metinvest Mining and Metallurgical Company has promptly adapted its production processes to the war conditions, making railways and ports in Romania and Poland the main transportation channels, Metinvest Group CEO Yuriy Ryzhenkov said as quoted by a corporate publication.
He added that after the opening of the sea corridor from Odesa ports, the company began to use this opportunity as well.
Ryzhenkov emphasized that despite the challenges of the war, Metinvest has the status of the largest exporter. Thus, in 2024, the total volume of exports and sales of iron ore raw materials amounted to more than 12 million tons.
“We have fully returned to our operational efficiency improvement program. For example, we have reconfigured business processes to use our own raw materials. And by most indicators – namely technical, technological and production – we have returned to the best results of 2020-2021. We have significantly reduced production costs, and despite the fall in prices in 2024, our results for the first half of the year exceeded those of the first half of 2023,” Ryzhenkov stated.
Today, the company’s assets in Kryvyi Rih, Zaporizhzhia and Kamianske continue to operate. In 2024, the group’s production increased in several categories: iron ore by 42%, pig iron by 3%, and steel by 4%.
At the same time, it is emphasized that Metinvest remains a socially responsible business. Over the three years of the war, the company has allocated more than UAH 8.4 billion to help Ukraine, of which UAH 4.4 billion went to support the defenders of Ukraine under the Steel Front project. The main areas of focus include providing the army with equipment, ammunition and machinery, developing tactical medicine and creating defense lines.
In addition to military needs, Metinvest is involved in supporting humanitarian missions, helping hundreds of thousands of Ukrainians affected by the war. About 516,000 civilians have already received support under the Saving Lives initiative. With more than 50,000 active employees, the company ensures decent working conditions and takes care of its employees and their families, providing financial, psychological and other assistance as needed. The company employs more than 1,000 veterans, and it also implements programs for their adaptation to civilian life.
It is noted that last year Metinvest paid almost UAH 20 billion in taxes, making it one of the largest taxpayers in the country.
A separate emphasis is placed on the prospect of post-war recovery. The CEO outlined the company’s main ambition as turning it into one of the world’s leaders in green steel production that meets modern environmental standards. The first step towards this goal is the construction of a green steel plant in Italy. The project will serve as an example for the future modernization of Zaporizhstal and Kametstal.
“We have an $8 billion strategy for the green modernization of Ukrainian enterprises for 7-10 years. We are ready to launch this strategy as soon as the war is over and Ukraine receives security guarantees,” Ryzhenkov said.
Despite the war, Metinvest continues to invest in Ukrainian facilities: in 2024, the total investment reached $670 million. In 2025, the company also plans to invest billions of dollars in the development of production facilities in Kryvyi Rih, Kamianske and Zaporizhzhia.
At the same time, the group is actively preparing for Ukraine’s large-scale recovery after the war. The Group plans to participate in large infrastructure and industrial projects that will not only help rebuild destroyed housing and social infrastructure but also ensure their modernization.
“Metinvest is a vertically integrated group of steel and mining companies. Its enterprises are located in Ukraine – in Donetsk, Luhansk, Zaporizhzhia and Dnipro regions, as well as in Europe and the United States.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it. Metinvest Holding LLC is the management company of Metinvest Group.
