PJSC “Ingulets Mining and Processing Plant” (Ingulets Mining and Processing Plant, Kryvyi Rih, Dnipropetrovsk Oblast), a member of the Metinvest Group, reported a 2.3-fold increase in its net loss to 3 billion 360.691 million UAH based on its performance from January through September of this year.
According to the company’s interim report, which is available to the Interfax-Ukraine news agency, the loss in the third quarter of 2026 amounted to 874.917 million UAH.
Revenue from ordinary operations for this period amounted to 302,000 UAH, which was generated in the first quarter of 2026; for the first nine months of 2025, it was 25.453 million UAH.
Retained earnings as of the end of September totaled 3 billion 667.112 million UAH.
The report states that the main factors affecting the company’s operations include limited demand—including due to the loss of metallurgical plants in eastern Ukraine—logistical challenges, a decline in sales prices, and the suspension of the concentrate production cycle in the second half of 2024 due to the lack of organizational and technical conditions for the company’s operations under wartime conditions.
“However, Metinvest’s specialists worked actively over the past year to improve the situation, maintain the plant’s economic viability, and secure jobs for the staff. In 2025, the production process was partially restored as part of ore mining for shipment to PJSC “TsGZK,” the report states.
At the same time, it is specified that during the first nine months of 2026, no commercial concentrate was produced, and no ore was mined. As part of the capital investment program for January–September 2026, a project to establish an in-house blasting unit is underway.
“Since the beginning of the year, blasting operations have been carried out in-house at the open-pit mines of the PIVNGZK Group and the TsGZK Joint-Stock Company. Since September, due to the shutdown of the PIVNGZK Group, blasting operations have also been carried out at the PIVNGZK Production Complex,” the report states.
As previously reported, based on its performance in January–March of this year, IngZK saw its net loss increase 5.4-fold—to 1 billion 397.987 million UAH from 259.450 million UAH in the same period last year. Revenue from ordinary operations for this period amounted to 302,000 UAH, whereas in 2024 there was none.
In the first half of this year, IngZK increased its net loss by 2.9 times—to 2,485,774 million UAH from 858,314 million UAH in the same period last year. Income from ordinary activities for this period amounted to 302 thousand UAH, which was generated in the first quarter of 2026.
In 2025, Ingulets GOK increased its net loss by 7.1 times, to 9,297,362,000 UAH, while income from ordinary activities for the past year amounted to 40,300 UAH, compared to 7,793,635,000 UAH in 2024.
The company specializes in the mining and processing of ferruginous quartzites from the Ingulets deposit, located in the southern part of the Kryvyi Rih iron ore basin. It produces iron ore concentrate. The company’s production capacity is 14 million metric tons of iron ore concentrate per year.
Metinvest B.V. (Netherlands) owns 100% of the shares in PJSC “Ingulets Iron Ore Mining and Processing Plant.”
The authorized capital of PJSC “Ingulets Iron Ore Mining and Processing Plant” is 689.906 million UAH, and the par value of each share is 0.25 UAH.
IngZK is part of the Metinvest Group, whose main shareholders are PJSC “System Capital Management” (SCM, Donetsk, 71.24%) and the “Smart-Holding” group of companies (23.76%). The management company of the Metinvest Group is Metinvest Holding LLC.
