In 2024, Nikopol Ferroalloy Plant (NFP, Dnipro region) reduced its output by 2.38 times compared to 2023, to 81.35 thousand tons from 193.77 thousand tons.
The Ukrainian Ferroalloy Producers Association (UkrFA) toldInterfax-Ukraine that in 2024, the plant reduced silicomanganese production by 2.29 times to 81.07 thousand tons from 185.51 thousand tons, and did not produce ferromanganese (5.32 thousand tons in 2023). Other ferroalloys were produced in the amount of 0.28 thousand tons (2.94 thousand tons, respectively).
As reported, Pokrovsky Mining and Processing Plant (PGOK, formerly Ordzhonikidze Mining and Processing Plant) and Marganetsky Mining and Processing Plant (MGOK, both in Dnipropetrovska oblast), both part of Privat Group, stopped mining and processing crude manganese ore in late October and early November 2023, while NGOK and Zaporizhzhya Ferroalloy Plant (ZZP) suspended production. Later, the ferroalloy companies resumed operations at a minimum level of production.
In particular, ZZF has been operating two furnaces at 7% capacity since May 1, 2024, and NFP has also been operating since the end of June last year.
The average monthly output of ferroalloys in stable operation is about 55-60 thousand tons.
NFP is Ukraine’s largest silico- and ferromanganese producer. It uses imported and domestic raw materials to produce ferroalloys.
NFP is controlled by the EastOne Group, created in the fall of 2007 as a result of the restructuring of the Interpipe Group, and the Privat Group (both based in Dnipro).
Metinvest Group’s Central, Ingulets and Northern Mining and Processing Plants (MPPs), which were transformed into United Mining and Processing Plant (UMPP), paid UAH 5.7 billion in taxes in 2024.
According to the company’s press release on Wednesday, in 2023, YuGOK, Central GOK and InGOK transferred UAH 2.2 billion to the state and municipal budgets.
“Thus, mining and processing enterprises remain a reliable pillar of Ukraine even during the war,” the press service states.
It is specified that in 2024, the main source of budget revenues was the tax on the use of subsoil, which amounted to UAH 2.7 billion. A significant share of deductions is accounted for by a single social contribution (UAH 673 million) and personal income tax (UAH 595 million). The environmental tax and land fees also contribute to the state and local budgets.
“It is the mining and metals companies that are the largest taxpayers and support the Ukrainian economy despite the war and challenges. These funds are needed for the social sector – healthcare, education, and most importantly, they support Ukraine’s defense capability. Metinvest’s Kryvyi Rih GOKs also remain one of the main employers in the region, providing jobs for thousands of specialists, including veterans returning from the war,” said Igor Tonev, CEO of Metinvest’s United GOKs.
As a reminder, Metinvest Group, including its associates and joint ventures, increased its payment of taxes and fees to budgets of all levels by 36% in 2024 to UAH 19.8 billion compared to 2023.
As reported earlier, Metinvest has implemented a new model for the operation of its Kryvyi Rih mining and processing enterprises, bringing together mining and processing plants in Kryvyi Rih under a single management.
In 2023, the Group’s Kryvyi Rih enterprises paid a total of UAH 4.6 billion in taxes and fees to the budgets of all levels.
“Metinvest comprises mining and metallurgical enterprises located in Ukraine, Europe and the United States. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.
Ukrnafta PJSC, which with the help of the European Bank for Reconstruction and Development (EBRD) has planned projects to generate power from its own gas with a total capacity of up to 370 MW, is additionally working to attract investment to build renewable energy capacity such as solar and wind, said supervisory board chairman Duncan Nightingale.
“We want to introduce about 200 MW of renewable energy over the next two years,” he said in a blitzing interview with Interfax-Ukraine.
Nightingale recalled that, according to agreements with the EBRD, in addition to loan funds, the bank is providing the company with grant support worth several tens of millions of euros.
“All these funds will be used for the construction of gas generation. At the first stage we plan to build about 375 MW of new gas to power capacities,” the chairman of the Supervisory Board specified.
According to him, initially Ukrnafta’s plan until 2028 provides for the introduction of about 1 GW of new electricity and heat generation, as well as storages (for energy storage – IF-U), which will require significant investments.
“We plan to attract funds from current donors, national and international banks, and investors. The main task is to direct the company’s funds to the main activities to increase hydrocarbon production, and energy projects should be self-sufficient, including the attraction of financing,” Nightingale emphasized.
He thanked investors who are now supporting Ukrnafta on the way to building gas generation.
“Ukrnafta realizes the importance of traditional energy sources, especially under the conditions of martial law. At the same time, we use gas as a transition fuel for power generation. This allows us to work on environmentally sustainable solutions for the future,” summarized the Chairman of the Supervisory Board.
“Ukrnafta is Ukraine’s largest oil producer and is the operator of the national network of gas stations. In March 2024, the company entered into Glusco asset management and operates a total of 544 filling stations – 461 owned and 83 under management.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share stake. In November 2022, the Supreme Commander-in-Chief of the AFU decided to transfer to the state a share of corporate rights of the company, which belonged to private owners and is now managed by the Ministry of Defense.
Read the full blitzinterview with PJSC Ukrnafta Supervisory Board Chairman Duncan Nightingale on the sidelines of the Ukrainian House in Davos soon on the agency’s website www.interfax.com.ua.
Net profit of Credit Agricole Bank (Kyiv) amounted to UAH 4.09 billion last year, which is 46.5% or UAH 1.44 billion more than in 2023, the press service of the financial institution reports.
“Crédit Agricole Bank’s net profit for the year amounted to UAH 4.1 billion after taxes at the increased rate of 50% (…) The bank’s financial results demonstrate sustainable development dynamics, disciplined risk management, and customer confidence,” the press release says.
It is noted that Credit Agricole’s net banking income for 2024 reached UAH 9.25 billion, which is 4.9% more than last year.
According to the press release, this is due to the growth of net interest income by 3.9% compared to 2023 to UAH 8.17 billion and increase of the deposit base by 10.9% to UAH 100.1 billion.
It is specified that corporate deposits increased by 9.3% to UAH 79.14 billion, and retail deposits by 17.2% to UAH 20.95 billion.
At the same time, the bank’s fee and commission income decreased by 5.6% to UAH 706 million.
The volume of loans and advances to customers remained almost unchanged in 2024, remaining at UAH 28.16 billion. Loans to businesses in Credit Agricole decreased by 2.8% to UAH 23.60 billion, while loans to individuals increased by 20.6% to UAH 4.55 billion.
“Credit Agricole has strengthened its position as a leader in car lending with a 28% market share in Ukraine. In 2024, the bank disbursed new car loans in the amount of UAH 3.3 billion, which is 50% more than in the previous year, outpacing the market growth rate of 40%,” the press service of the bank noted.
Last year, the bank’s assets increased by 12.9% to UAH 116.93 billion, while liabilities grew by 9.7% to UAH 103.75 billion. Agricole’s operating expenses increased by 11.7% to UAH 2.68 billion.
Zaporizhzhia Ferroalloy Plant (ZZF) increased its output by 35.2% in 2024 compared to 2023, up to 26.80 thousand tons from 19.82 thousand tons.
According to the Ukrainian Association of Ferroalloy Producers (UkrFA), in 2024, ZZF increased its production of silicomanganese sixfold to 23.08 thousand tons from 3.87 thousand tons, but reduced ferrosilicon to 0.12 thousand tons from 10.49 thousand tons, and ferromanganese to 3.6 thousand tons from 5.43 thousand tons.
At the same time, the company did not produce metal manganese, while in 2023 it produced 0.03 thousand tons.
ZZF is one of the three main Ukrainian producers of this product.
As reported, Pokrovsky Mining and Processing Plant (PGOK, formerly Ordzhonikidze Mining and Processing Plant) and Marganetsky Mining and Processing Plant (MGOK, both in Dnipropetrovska oblast), both part of Privat Group, stopped mining and processing crude manganese ore in late October and early November 2023, while NGOK and Zaporizhzhya Ferroalloy Plant (ZZF) suspended smelting. Later, the ferroalloy companies resumed operations at a minimum level of production. In particular, ZZF has been operating two furnaces at 7% capacity since May 1, 2024, and NFP has also been operating since the end of June last year.
Before the nationalization, the business of ZZF, NFP, Stakhanovsky ZF (which is on tubing), Pokrovske (formerly Ordzhonikidze) and Marganetsky Ore Mining and Processing Plants was organized by PrivatBank.
