The Northern Mining and Processing Plant (Pivnichnyi GZK, Kryvyi Rih, Dnipropetrovsk region), part of the Metinvest Group, is actively working on the construction of a modern hydraulic engineering facility for the thickening of enrichment waste at its technical water and sludge management workshop.
According to the company, the complex will enable the plant to reduce costs and lower its environmental impact by cutting energy and water consumption.
It is specified that Metinvest received a loan of EUR 23.6 million to purchase Finnish professional equipment from Metso Finland for the complex. The loan is provided by the Finnish export credit agency Finnvera. Deutsche Bank is the sole organizer and lender, with legal support from the international law firm Norton Rose Fulbright.
The press release explains that the concept of expanding the existing tailings storage facility at the Northern GOK from +165 m to +189 m using tailings thickening technology was approved back in 2015. After developing the project documentation in March 2021, Metinvest announced the launch of one of its largest high-tech projects, which will be managed by Metinvest Sichstal specialists.
Three years later, the facility was scheduled to be commissioned, but the outbreak of full-scale war forced construction to be put on hold.
Metinvest Sichstal Project Manager Vladimir Sidorov noted that a certain amount of work had been completed before the forced shutdown.
“The design was completed, basic and detailed engineering was developed, and calculations were made. We decided on the construction site, set up headquarters there, purchased some of the equipment, and began preparatory work. Directly at the site of the future complex, we had to remove the top layer of soil, which was unsuitable for construction, and replace it with another layer that was suitable in terms of characteristics. It was during this preparatory period that active hostilities began,” Sidorov explained in the statement.
However, a year ago, in July 2024, the company decided to resume construction work, continuing with the earthworks to lay and level the imported soil, and then moving on to the construction phase of the concentration complex facilities. Currently, despite the risks of wartime, builders are working on the pile foundation and grillage, which will ensure the stability and reliability of the hydraulic engineering structure.
“The biggest challenge we are currently facing is the lack of qualified specialists, both engineers and technical workers. This problem is relevant both for Metinvest and for the contractors we work with. After all, a significant number of professionals are currently working not on peaceful construction projects, but on the front lines,” said the project manager.
In addition, the company faces the risk of shelling on a daily basis. To ensure people’s safety, one shelter was installed on the site during the preparatory work, and two more were added when construction began. The company decided to protect itself from power supply problems caused by possible attacks on energy facilities by using generators.
By the end of this year, specialists plan to complete the pile driving and concreting of the foundations for the main facilities of the complex. In the near future, they will also begin installing metal structures for the reverse water supply pumping station, thickener No. 4, and the combined slurry pumping station. The commissioning of the slurry thickening complex will take place in three stages. The completion of work on the facility is currently scheduled for the end of 2027.
“Advanced technology for thickening enrichment waste using safe reagents to separate water from solid particles will allow the enterprise to reduce transportation costs and not increase the area for tailings disposal. This will give us a real opportunity to reduce the cost of concentrate and pellets, increase profitability, and strengthen our position in the raw materials market,” said Dmitry Nepomnyashchy, Director of Capital Construction and Investments at GOK, commenting on the resumption of construction of the pulp thickening complex as opening up new prospects for the Northern GOK.
As reported, Metinvest presented a $189 million waste thickening project at the Ukraine Recovery Conference (URC) 2025 in Rome. The new complex will reduce the volume of sludge transferred to the tailings pond during iron ore enrichment by 30%. The energy savings will amount to 125 MWh per year.
The project will be launched in three years.
Pivdenny GOK is part of the Metinvest Group, whose main shareholders are System Capital Management (SCM, Donetsk) (71.24%) and the Smart Holding group of companies (23.76%). The managing company of the Metinvest Group is Metinvest Holding LLC.
Ukrainian metallurgical enterprises reduced total rolled steel production by 2.8% in January-July 2025 compared to the same period last year, to 3.622 million tons, according to operational data from the Ukrmetallurgprom association.
Steel production during this period decreased by 7% to 4.263 million tons.
In July 2025, Ukraine produced 552,000 tons of rolled steel and 580,500 tons of steel, compared to 563,000 tons and 621,400 tons in June.
For comparison, in 2024, rolled steel production increased by 15.8% to 6.222 million tons, and steel production by 21.6% to 7.575 million tons. In 2023, rolled steel production grew by only 0.4%, while steel production decreased by 0.6%.
Kyivstar, Ukraine’s largest mobile operator, increased its EBITDA in April-June 2025 by 23.5% compared to the same period last year, to 6.90 billion UAH, while its revenue grew by 25.8% to UAH 1.86 billion due to significant growth in the telecommunications and digital technology segments.
“EBITDA margin was 58.2% (-1.1 p.p. compared to the same period last year), reflecting a higher share of direct digital revenues after the consolidation of Uklon. In the second quarter, there was pressure on expenses, including an increase in utility, consulting, and IT support costs,” according to the report published by the parent company VEON on Thursday.
According to the report, EBITDA for the first half of the year increased by 39.5% to UAH 12.85 billion, while revenue increased by 36.1% to UAH 22.58 billion.
It is noted that Kyivstar increased its capital investments in the second quarter of 2025 by 72.8% to UAH 3.93 billion, and for the first half of the year by 89.8% to UAH 6.35 billion.
“Capital investments of 33.2% (of revenue) in the second quarter of 2025 and 28.2% in the first half of 2025 underscore Kyivstar’s accelerated reinvestment in its existing business to maintain its technological leadership amid the ongoing war,” VEON emphasized.
The company specified that in dollar terms, EBITDA grew by 18.6% in the second quarter to $166 million, while revenue increased by 20.8% to $286 million, while for the first half of the year as a whole, they increased by 31.5% to $309 million and 27.9% to $542 million, respectively.
According to the report, the total number of mobile subscribers decreased by 4.5% compared to the same period last year and amounted to 22.4 million, reflecting the continued migration of customers amid the conflict.
The decline in the 4G user base was smaller, at 1.2% to 14.4 million, while the number of customers using service packages increased by 23.7% compared to the same period last year and currently stands at 6.5 million, or 31.7% of total subscribers, as demand for bundled services remains high.
It is noted that ARPU (average monthly revenue per user) increased by 20.6% to UAH 146.
In addition, Kyivstar recorded a 20.3% increase in data usage in the second quarter, to 12.6 GB per user, while the number of digital users grew by 51.2% over the year, to 13.4 million.
As for subsidiary businesses, the report notes that the number of users of the Helsi medical information system reached 2.5 million in June 2025, which is 15.8% more than in the second quarter of 2024. In addition, new subscription models and the development of the B2B segment are also showing growth.
The number of users of Kyivstar TV at the end of Q2 2025 increased by 21.7% compared to the same period last year, to 2 million. The company added that the positive dynamics was ensured by the launch of an app for Xbox with Ukrainian-language content and exclusive sports broadcasts.
Uklon, which was consolidated into Kyivstar’s financial statements in April 2025, generated $21.7 million in revenue and $9.3 million in EBITDA in the second quarter of 2025, with 41.2 million trips and 1.1 million deliveries. It is noted that this integration was a strategic step in expanding the company’s presence in the digital services market.
Among other notable events in the second quarter, the report mentions the signing of a memorandum with the Ministry of Digital Transformation on the creation of the first large Ukrainian-language language model. The project is planned to be implemented by the end of the year to provide secure digital services based on localized data.
In addition, the company has received permission to conduct test trials of Direct to Cell satellite technology. Kyivstar plans to use this technology to provide connectivity in regions without traditional terrestrial mobile coverage, particularly in remote mountainous and rural areas.
US stock futures rose after the Kremlin confirmed that Presidents Vladimir Putin and Donald Trump will meet for a summit in the coming days, raising hopes for a truce in Russia’s war with Ukraine.
Contracts for the S&P 500 and Nasdaq 100 added 0.7%. Apple Inc. shares rose in premarket trading after announcing a $100 billion investment that could spare the company from President Donald Trump’s threatened tariffs on chip imports. Apple suppliers, including Corning Inc.
The dollar index fell for the fifth day in a row, its longest streak in nearly four months, while the euro rose to a session high. Yields on 10-year Treasury bonds remained stable. Oil pared gains.
The Stoxx Europe 600 index rose more than 0.8%, offsetting losses caused by last week’s disappointing US labor market data. The travel and leisure sector performed best. A basket of stocks of companies with interests in Ukraine rose, while defense stocks fell. Optimistic financial results from some of the region’s largest companies helped improve sentiment, even as industrial production in Germany suffered its biggest drop in nearly a year, dealing another blow to Europe’s largest economy.
“A peaceful resolution to the conflict between Russia and Ukraine should have a positive impact on European consumers and risk sentiment, and a negative impact on oil prices,” said Mohit Kumar, chief economist and strategist at Jefferies International Ltd. “Among the sectors that will benefit from this are European consumers, growth-sensitive sectors, and construction-related sectors.”
Market sentiment improved earlier after Trump announced that companies manufacturing goods in the US, such as Apple, would be eligible for exemptions from his proposed 100% tariff on chip imports. Growing speculation about a Federal Reserve interest rate cut is also supporting optimism in stock markets, as new tariffs aimed at reshaping global trade officially took effect on Thursday.
Eli Lilly & Co. shares fell after the pharmaceutical company released disappointing results from trials of its weight-loss drug
DoorDash Inc. jumped in premarket trading after releasing a third-quarter order forecast that beat Wall Street expectations
Paycom Software Inc. rose after raising its full-year revenue forecast
Fortinet Inc. fell after the software company released updated information about its firewall update cycle
Airbnb Inc. declined on weak growth forecasts
German defense company Rheinmetall AG fell after missing analysts’ forecasts for operating profit as orders from Germany and other European countries that have increased defense spending have not yet materialized.
Deutsche Telekom AG fell after reporting second-quarter results that showed weak performance in Germany, its largest market.
Siemens AG rose after reporting higher revenue and orders in the third fiscal quarter.
Allianz SE, a German insurance company that owns bond management company Pacific Investment Management Co., rose after second-quarter profit growth on the back of better results in the property and casualty insurance segment and an inflow of funds at Pimco.
Shares of A. P. Moller-Maersk A/S, a global trade leader, rose after the company raised its financial forecast for 2025, saying demand outside North America is “resilient” even amid concerns about a trade war.
Sandoz Group AG
rose after the Swiss pharmaceutical company reported better-than-expected results.
On Wednesday evening in the US, Trump said that the US would impose “a tariff of approximately 100% on microchips and semiconductors.”
He added: “But if you build in the United States of America, there will be no tariffs.” These comments came after Apple CEO Tim Cook, alongside Trump in the Oval Office, announced a $100 billion investment plan.
Later on Thursday, the Bank of England is expected to cut rates. The pound rose slightly against the dollar, while the UK’s benchmark stock index fell.
Meanwhile, three Fed officials expressed concern about the US labor market on Wednesday, noting that interest rates could be cut in September.
San Francisco Fed President Mary Daly said policymakers would likely have to adjust interest rates in the “coming months” to prevent further deterioration in the employment situation.
Data released last week pointed to a sharp cooling of the labor market over the past few months. Policymakers left rates unchanged at the end of July, and the next meeting will take place in September. After that, they will hold two more meetings in 2025.
Traders are awaiting weekly jobless claims data, due out on Thursday, for more insight into the state of the US labor market.
Separately, Trump said he would likely appoint a temporary Fed governor to fill the vacant seat on the central bank’s board in the coming days, rather than using the seat to demonstrate his choice to replace Jerome Powell as chairman.
At the same time, China’s export growth unexpectedly accelerated last month, reaching its highest level since April. Foreign supplies remained stable despite high tariffs imposed by the US. Chinese stocks remained unchanged.
In other tariff news, the US also imposed an additional 25% tariff on Indian goods, effectively doubling the rate announced a few days ago. Indian stocks fell.
Some key market developments:
Source: https://www.bloomberg.com/news/articles/2025-08-06/stock-market-today-dow-s-p-live-updates
The Kametstal plant of the Metinvest mining and metallurgical group (Kamensk, Dnipropetrovsk region) has begun the first stage of a large-scale overhaul of one of its important substations, which supplies electricity to technological processes.
According to the company, the overhaul will also include the modernization of key equipment, which will improve the reliability of power supply and occupational safety.
The main tasks of the overhaul include replacing obsolete equipment that is no longer used in external power grids with modern switching equipment. In particular, disconnectors will be replaced with new 150 kV gas-insulated circuit breakers. Electromagnetic relays will also be replaced with microprocessor-based protection and automation relay units, which provide more sensitive protection with automatic rapid response of equipment to emergency situations.
It is specified that the new equipment will enable the protection of 150 kV electrical circuits directly at the Kametstali substation, whereas previously this was carried out at the remote DTEK substation. This will enable power engineers to localize the emergency area and optimize the process of eliminating the emergency situation.
The report notes that this is one of the most important overhauls of key equipment in the workshop this year, replacing outdated electrical equipment with modern automated equipment. In particular, this is a new level and a modern approach to the process of operational switching, which will now be performed remotely – automatically, using a control key, without the physical presence of employees at the switching device.
“This is a significant step towards improving the safety of our personnel. As a result, we expect to have a modern, reliable power supply system for an important part of the enterprise, as well as improved conditions and increased safety for the personnel of the Central Power Plant,” explained Mikhail Revin, assistant head of the network and substation engineering department, whose words are quoted in the report.
Currently, the old equipment has been completely dismantled at the repair site, and excavation work is underway to pour the foundations for the new equipment. After that, repair specialists will begin its installation.
Kametstal is part of the Metinvest Group.
Metinvest, Ukraine’s largest mining and metallurgical holding, reduced steel production by 13% year-on-year to 908,000 tons in January-June 2025, according to its operating results for the period.
According to a press release from the parent company Metinvest B.V. on the results of its operating activities for Q2 2025, total iron ore production for this period also decreased by 13% compared to January-June 2024, to 7.725 million tons.
At the same time, the production of marketable iron ore concentrate (MIOC) decreased by 8% compared to the first half of 2024, to 7.528 million tons. Together with the total production of MIOC in the first half of 2025, it decreased by 13%, to 7.725 million tons.
It is noted that coke production in January-June 2025 decreased by 5% compared to the first half of 2024, to 5%, to 535 thousand tons.
At the same time, it is specified that in the second quarter of 2025, pig iron and steel production at the Kame-Stal Metallurgical Plant decreased by 19% and 14%, respectively, compared to the previous quarter and the first quarter of 2025, to 353 thousand tons and 420 thousand tons, due to the shutdown of blast furnace No. 9 for major repairs in April-June 2025. In the first half of 2025, pig iron production amounted to 789 thousand tons, which is 11% less than in the same period last year, due to the aforementioned overhaul of furnace No. 9 at Kametstal and a temporary technological shutdown at the pulverized coal fuel (PCF) site in March 2025. This led to a decrease in steel production to 908 thousand tons, or 13% less than in the corresponding period of the previous year.
Against the backdrop of a decline in pig iron production and an increase in domestic consumption of billets at subsequent stages of production, the output of semi-finished products decreased in the second quarter of 2025 by 26% compared to the previous quarter, to 128 thousand tons; in the first half of 2025, by 20% compared to the same period last year, to 301 thousand tons.
In the second quarter of 2025, finished product output increased by 5% compared to the previous quarter and amounted to 628 thousand tons. In particular: flat steel production increased by 11% to 289,000 tons, mainly due to growth in orders for hot-rolled coils at Ferriera Valsider (Italy).
Long product production remained almost at the previous quarter’s level and amounted to 339,000 tons, with output at Kametstal increasing by 4%.
In the first half of 2025, finished product production increased by 3% compared to the same period in 2024. In particular, long product production increased by 5% thanks to higher volumes at Kametstal, while flat product production remained almost unchanged from the previous period.
In the second quarter of 2025, coke production increased by 6% compared to the previous quarter, to 275,000 tons, mainly due to the emergency shutdown of Zaporizhkox in February due to military operations. In the first half of 2025, coke production decreased by 5% to 535,000 tons compared to the same period last year due to the decommissioning of coke oven battery No. 1 at Kametstal.
In the second quarter of 2025, the production of total iron ore concentrate and marketable iron ore products remained almost at the level of the previous quarter and amounted to 3.910 million tons and 3.767 million tons, respectively. At the same time, due to the shutdown of the roasting machine at the Central GOK for major repairs in May 2025, iron ore concentrate production increased by 5% to 2.175 million tons, while the output of pellets decreased by 6% to 1.592 million tons.
In the first half of 2025, total iron ore concentrate production decreased by 13% compared to the same period last year due to the shutdown of the Ingulets GOK in July 2024. This was partially offset by an increase in volumes at the Northern GOK – by 47% due to increased production at the Hannivskyi open pit, as well as at the Central GOK – by 22% due to increased iron ore supplies from third parties. At the same time, the production of marketable iron ore products decreased by 8%, including concentrate by 16%, while the output of marketable pellets increased by 3%.
In December 2024, due to the intensification of hostilities and the approach of the front line, the production site of the Pokrovsk Coal Group was suspended. Subsequently, against the backdrop of power outages and a further deterioration in the security situation, production at the mine and enrichment plant was suspended.
As a result, starting in 2025, coal concentrate production has been concentrated exclusively at United Coal Company (USA). In the second quarter of 2025, coal concentrate production fell to 518,000 tons, down 10% from the previous quarter, due to the deterioration in the quality of coking coal.
In the first half of 2025, coal concentrate production decreased by 53% to 984,000 tons due to the shutdown of the Pokrovsk Coal Group.
As reported, Metinvest increased steel production by 4% in January-March this year compared to the same period last year, but decreased by 1% compared to the previous quarter, to 488,000 tons. Total iron ore production for this period decreased by 15% compared to January-March 2024, but increased by 11% compared to the previous quarter, to 3.761 million tons.
At the same time, the production of commercial iron ore concentrate (CIO) decreased by 27% compared to Q1-2024 and increased by 7% compared to the previous quarter, reaching 2.064 million tons. Total production of IRC in Q1 2025 decreased by 21% compared to Q1 2024 and increased by 17% compared to the previous quarter, reaching 3.815 million tons.
At the same time, Metinvest increased its production of pellets by 7% compared to Q1 2024 and by 9% compared to Q4 2024, to 1.697 million tons. but reduced its total output of coking coal concentrate by 52% in Q1 2024 and by 51% compared to the previous quarter, to 518 thousand tons. Coke output in January-March 2025 decreased by 8% compared to Q1 2024 and by 6% compared to Q4 2024, to 260 thousand tons.
As reported, Metinvest increased steel production by 4% in 2024 compared to 2024, to 2.099 million tons, while total iron ore production increased by 42%, to 15.733 million tons. At the same time, commercial iron ore concentrate production increased by 58% to 14.826 million tons. Coke output in 2024 decreased by 10% to 1.122 million tons. At the same time, Metinvest increased its total production of pellets by 14% to 6.022 million tons, but reduced its total output of coking coal concentrate by 22% to 4.277 million tons.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine, in the Donetsk, Luhansk, Zaporizhia, and Dnipropetrovsk regions, as well as in the European Union, the United Kingdom, and the United States.
The main shareholders of the holding company are the SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
