According to the results of its operations in January-September of this year, Kryvyi Rih Iron Ore Plant (KZRK) increased its net loss by 3.2 times compared to the same period last year, to UAH 1 billion 487.217 million.
According to KZRK’s interim report, available to Interfax-Ukraine, net income for this period decreased by 41.6% to UAH 1 billion 601.822 million.
Undistributed profit at the end of September 2025 amounted to UAH 2 billion 8.823 million.
According to the annual report, KZRK ended 2024 with a net loss of UAH 2 billion 14.015 million, while in 2023 it amounted to UAH 63.411 million. Net income in 2024 amounted to UAH 3 billion 443.081 million, and in 2023 – UAH 5 billion 577.923 million.
In 2024, the plant produced 1.693 million tons of raw ore, with 1.370 million tons of commercial ore. The plan for 2025 is 4.385 million tons of raw ore and 3.6 million tons of commercial ore.
As reported, on May 23, 2025, Tviy Energosupplach (Kyiv) applied to the Commercial Court of Dnipropetrovsk Region to initiate bankruptcy proceedings against KZRK due to its debt for electricity consumption. The
Commercial Court of Dnipropetrovsk Region ruled to open bankruptcy proceedings against KZRK on June 9 of this year.
KZRK specializes in underground iron ore mining. It consists of four mines: Pokrovska (formerly Zhovtneva), Kryvorizka (Batkivshchyna), Kozatska (formerly Hvardiyiska), and Ternivska (formerly the Ordzhonikidze
Ore Management, then named after Lenin).
According to NDU data for the first quarter of 2025, the main shareholder of KZRK is Starmill Limited (Cyprus), which owns 99.8812% of its shares. Operational control of the plant prior to the introduction of bankruptcy proceedings was exercised by the Privat Group.
In May 2023, Ukraine imposed sanctions against dozens of foreign companies linked to Russian individuals who own large assets in Ukraine, including KZRK. Some of these assets had already been seized, but the sanctions paved the way for their confiscation. The relevant presidential decree No. 279 of May 12 was published on the website of the head of state. In particular, the list of legal entities included Starmill Limited, which owns 99.89% of KZRK under the operational control of the Privat Group.
The authorized capital of the enterprise is UAH 1 billion 991.233 million.
